BURLINGTON, Mass., April 17, 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 first quarter ended March 31, 2013. Quarterly Highlights:
- Net income increased by 12.7% to $2.3 million or $0.15 per diluted share on 14,786,580 shares;
- Increased cash received from customers by 6.6% to $31.0 million, representing $2.10 per diluted share as compared to the first quarter of 2012;
- Increased total revenues by 7.4% to $15.3 million as compared to the same period last year;
- Contract originations were $20.1 million, down from $21.6 million for the same period in 2012;
- Reduced net charge-offs by 20.1% to $4.2 million as compared to the same period last year; and
- Paid a quarterly dividend of $0.9 million during the first quarter, representing $0.06 per share.