American Capital Agency Corp. Announces Preliminary Estimates Of Select Financial Data For Q2 2012

American Capital Agency Corp. AGNC announced preliminary estimates of select financial data for the second quarter 2012 and as of June 30, 2012. Interest rates fell significantly during the quarter ended June 30, 2012. As a result, the price of agency mortgage backed securities generally increased during the second quarter. Given the increase in fair value of agency mortgage backed securities held in the Company's investment portfolio relative to the decrease in value of its hedges, the Company estimates that, when finally determined, its net book value per common share as of June 30, 2012 will increase to approximately $29.35 per share from $29.06 per share as of March 31, 2012. For purposes of computing GAAP net income, the change in fair value of the Company's hedges is reflected in current period net income, while the change in fair value of its mortgage backed securities is reflected in its statement of equity through other comprehensive income. Due to the decline in interest rates during the quarter and the corresponding unrealized loss in fair value of the Company's hedges, the Company expects that, when finally determined, its GAAP net loss for the second quarter of 2012 will be approximately $0.90 per share. The Company expects that, when finally determined, comprehensive income for the second quarter of 2012, which includes both GAAP net loss as well as the change in value of its mortgage backed securities reflected in other comprehensive income, will be approximately $1.50 per share. The Company expects that, when finally determined, taxable net income per share for the second quarter will be approximately $1.60 per share and that its undistributed taxable income as of June 30, 2012 will be approximately $1.55 per share.