UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 10, 2016
Resource America, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 0-4408 | 72-0654145 | ||
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File Number) | Identification No.) | ||
One Crescent Drive, Suite 203, Navy Yard Corporate Center Philadelphia, PA | 19112 | |||
(Address of principal executive offices) | (Zip Code) | |||
Registrant's telephone number, including area code: 215-546-5005
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure
Resource America, Inc. has revised the GAAP net income it provided in its March 1, 2016 press release as a result of an adjustment to its income tax provision (benefit). As adjusted, the income tax provision (benefit) decreased to $2,401,000 and $5,857,000 for the three months and year ended December 31, 2015, respectively, from the $3,289,000 and $6,745,000, respectively, as originally reported, while net income (loss) increased to $3,386,000 and $8,232,000 from $2,498,000 and $7,344,000, respectively, for such periods. The adjustment also increased net income (loss) attributable to common shareholders to $4,574,000 and $6,188,000 from $3,686,000 and $5,300,000 for the respective periods. Basic earnings per share increased to $0.22 and $0.28 per share from $0.18 and $0.24 for the three months and year ended December 31, 2015, respectively, and diluted earnings per share increased to $0.22 and $0.28 per share from $0.17 and $0.24 for the respective periods.
The revised information is reflected in Resource America’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2015 filed contemporaneously herewith.