This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Asta Funding, Inc. Announces Financial Results For Year And Fourth Quarter Of Fiscal Year 2012

Revenues of $11.0 million in Fourth Quarter Fiscal Year 2012 – Increase over Prior Year Fourth Quarter Solid Cash Position and Strong Cash Flow Trend Continues $106.3 Million of Cash and Cash Equivalents and Investments at September 30, 2012 Net Income $10.0 Million, or $0.70 Per Diluted Share for Year Ended September 30, 2012 Annual $0.08 Dividend Accelerated to 2012

ENGLEWOOD CLIFFS, N.J., Dec. 13, 2012 (GLOBE NEWSWIRE) -- Asta Funding, Inc. (Nasdaq:ASFI) (the "Company"), a financial services consumer receivable asset management and liquidation company, today reported its results for the fiscal year and fourth quarter ended September 30, 2012. The Company reported total revenues of $11,022,000 in the fourth quarter of fiscal year 2012, an increase of 12.5% over the reported revenue of $9,798,000 in fourth quarter of fiscal year 2011. The Company reported $106.3 million in cash and cash equivalents, and investments at September 30, 2012.

Fiscal Year 2012

The Company reported net income of $10,037,000 for the fiscal year ended September 30, 2012, or $0.70 per diluted share, as compared to net income of $10,521,000, or $0.71 per diluted share, for the fiscal year ended September 30, 2011. Total revenues for the fiscal year ended September 30, 2012 were $44,502,000, an increase of 3.1% as compared to $43,167,000 for the fiscal year ended September 30, 2011.

Net cash collections from collection of receivables acquired for liquidation, including net cash collections represented by account sales, were $70,019,000 for the fiscal year ended September 30, 2012, as compared to $81,205,000 during fiscal year 2011, a 13.8% decrease from the prior year. Collections on the Great Seneca portfolio were $12.9 million during fiscal year 2012 as compared to $13.0 during the prior year. The carrying value of the Great Seneca portfolio was $65.4 million at September 30, 2012 as compared to $78.3 million at September 30, 2011.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs