Comprehensive income fell from $31.5 million a quarter ago to $56.8 million, but on a generally accepted accounting principles (GAAP) net income basis, the company generated a profit of $294.1 million. Book value fell from $16.39 per share just a quarter ago to $15.36 per share, but was still above today's closing price of $11.61. The decline in book value in just the last three months is what's spooking investors and causing the stock to trade at a discount to book value.