Capstead Mortgage Corporation Announces Fourth Quarter 2010 Results.

Extract

---

Capstead Mortgage Corporation Announces Fourth Quarter 2010 Results.

Fourth Quarter 2010 Highlights

* Earnings increased to $33 million or $0.40 per diluted common share

* Total financing spreads increased 31 basis points to average 1.71%, reflecting lower levels of portfolio runoff and continued low borrowing rates

* Book value increased $0.25 to $12.02 per common share

* Portfolio increased $573 million to $8.52 billion contributing in an increase in portfolio leverage to 6.91 times long-term investment capital

DALLAS -- Capstead Mortgage Corporation (NYSE: CMO) ("Capstead" or the "Company") today reported net income of $33,027,000 or $0.40 per diluted common share for the quarter ended December 31, 2010. This compares to net income of $23,673,000 or $0.27 per diluted common share for the quarter ended September 30, 2010. The Company paid a fourth quarter 2010 dividend of $0.39 per common share on January 20, 2011.

Fourth Quarter Earnings and Related Discussion

Capstead is a self-managed real estate investment trust for federal income tax purposes that invests in a leveraged portfolio of residential adjustable-rate mortgage, or ARM securities, issued and guaranteed by federal government-sponsored enterprises, either Fannie Mae or Freddie Mac (the "GSEs"), or by an agency of the federal government, Ginnie Mae. For the quarter ended December 31, 2010, ...

See the full content of this document

---