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.