Summarized Quarterly Financial Results

12 Months Ended

Dec. 31, 2011

Summarized Quarterly Financial Results [Abstract]

Summarized Quarterly Financial Results

16. Summarized Quarterly Financial Results

The following is a presentation of the quarterly results of operations for the years ended December 31, 2011 and 2010.

Hatteras Financial Corp.

Statements of Income

(In thousands, except per share amounts)	Three months Ended December 31, 2011 (Unaudited)		Three months Ended September 30, 2011 (Unaudited)		Three months Ended June 30, 2011 (Unaudited)		Three months Ended March 31, 2011 (Unaudited)
Interest income:
Interest income on mortgage-backed securities	$	114,465	$	110,125	$	113,188	$	86,935
Interest income on short-term cash investments		356		380		331		340
Interest income		114,821		110,505		113,519		87,275
Interest expense		42,299		40,259		35,910		26,194
Net interest income		72,522		70,246		77,609		61,081
Other income:
Gain on sale of mortgage-backed securities		2,841		13,330		4,405		—
Operating expenses:
Management fee		3,592		3,572		3,531		3,092
Share based compensation		415		334		194		207
General and administrative		731		688		746		559
Total operating expenses		4,738		4,594		4,471		3,858
Net income	$	70,625	$	78,982	$	77,543	$	57,223
Earnings per share - common stock, basic	$	0.92	$	1.04	$	1.04	$	0.96
Earnings per share - common stock, diluted	$	0.92	$	1.04	$	1.04	$	0.96
Dividends per share	$	0.90	$	1.00	$	1.00	$	1.00
Weighted average shares outstanding		76,606,611		75,743,002		74,807,174		59,442,488

Hatteras Financial Corp.

Statements of Income

(In thousands, except per share amounts)	Three months Ended December 31, 2010 (Unaudited)		Three months Ended September 30, 2010 (Unaudited)		Three months Ended June 30, 2010 (Unaudited)		Three months Ended March 31, 2010 (Unaudited)
Interest income:
Interest income on mortgage-backed securities	$	67,668	$	63,701	$	63,441	$	68,941
Interest income on short-term cash investments		284		323		298		277
Interest income		67,952		64,024		63,739		69,218
Interest expense		24,740		24,066		23,677		23,440
Net interest income		43,212		39,958		40,062		45,778
Other income:
Gain on sale of mortgage-backed securities		5,783		6,723		—		1,044
Operating expenses:
Management fee		2,505		2,321		2,196		2,183
Share based compensation		279		463		347		342
General and administrative		572		665		707		563
Total operating expenses		3,356		3,449		3,250		3,088
Net income	$	45,639	$	43,232	$	36,812	$	43,734
Earnings per share - common stock, basic	$	0.99	$	1.12	$	1.01	$	1.21
Earnings per share - common stock, diluted	$	0.99	$	1.11	$	1.01	$	1.21
Dividends per share	$	1.00	$	1.10	$	1.10	$	1.20
Weighted average shares outstanding		46,100,493		38,765,078		36,609,290		36,241,823