Friday, 21 March 2014

Carfinco Tallies Year End

TSX:CFN

Carfinco announced its year end results late yesterday, along with a summary of key accomplishments that took place over 2013 including:



  • Introducing new finance programs in Canada offering a wider range of products.
  • Entry into the United States through the acquisition of Persian Acceptance Corp.
  • Earnings per share of 78 cents.
  • Distributions to shareholders of 48 cents per share or $12.5 million.
  • Return on shareholders’ equity of 36%.
  • Record loan originations of $171.6 million.
  • Record principal balance of finance receivables of $271.2 million.
  • 31+ day delinquent accounts of 4%.
  • Net earnings of $5.1 million for the fourth quarter of 2013, an increase of 17.9% from the $4.3 million for the third quarter of 2013 and an increase of 1.7% from the $5.0 million for the fourth quarter of 2012.
A conference call will be held today, Friday, March 21, 2014 at 11:00am MT (1:00pm ET) and will include a discussion by management about Carfinco‘s year end results, followed by a question and answer period.
Participants can access the conference call by phone within Canada and the U.S. by dialing the following numbers:

North America Toll-Free:            1-888-400-3310
Internationally:                         1-416-850-9144 

Callers should dial in five to ten minutes prior to the scheduled start time.  An audio webcast may be accessed through the Investor Relations page on Carfinco‘s web site at (www.carfinco.com). Audio replays will be available on the web site shortly after the conclusion of the conference call.

Full news release can be viewed by clicking here...


Shares Outstanding: 26.4 million
Shares Fully Diluted: 26.4 million