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

MicroFinancial Incorporated Announces Fourth Quarter And Year End 2012 Results

BURLINGTON, Mass., Jan. 30, 2013 (GLOBE NEWSWIRE) -- MicroFinancial Incorporated (Nasdaq:MFI), a financial intermediary specializing in vendor-based leasing and finance programs for microticket transactions, today announced financial results for the fourth quarter and the year ended December 31, 2012.

2012 Full Year Highlights Include:

  • Increased net income to $9.4 million or $0.64 per diluted share as compared to $9.0 million in 2011;
  • Increased total revenues by 8.5% to $59.3 million as compared to $54.7 million in 2011;
  • Increased total cash received from customers by 14.6% or $15.5 million as compared to 2011 bringing total cash received to $121.8 million representing $8.29 per diluted share;
  • Achieved an after tax return on average assets of 5.8% and an after tax return on average equity of 11.8%;
  • Increased originations by 17.3% or $13.5 million from $78.2 million in 2011 to $91.7 million in 2012;
  • Increased the revolving credit facility from $100 million to $150 million and extended the term of the facility through December of 2016 under more favorable pricing terms; and
  • Increased the dividend payout to $0.24 per share in 2012 versus $0.21 per share in 2011.

Fourth Quarter 2012 Results:

Net income for the fourth quarter of 2012 remained flat at $2.4 million or $0.16 per diluted share based upon 14,731,946 shares for the fourth quarter of 2012 and 14,547,820 shares for the same period last year.

Revenue in the fourth quarter of 2012 increased by 8.9% to $15.3 million compared to $14.1 million in the fourth quarter of 2011 due primarily to increases in leasing revenues associated with new lease originations and rental revenue. Revenue from leases was $10.3 million, an increase of $0.8 million from the same period last year and rental income was $2.6 million, an increase of $0.3 million from the quarter ended December 31, 2011. Other revenue components contributed $2.5 million for the current quarter, an increase of $0.2 million from the same period last year.

1 of 4

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs