 |
|
|
March 10, 2008
Consolidated Statements of Operations
|
Three Months ended
|
Year ended
|
| (Dollars in thousands, except per share data) |
December 31,
|
December 31,
|
|
|
|
|
2007
|
2006
|
2007
|
2006
|
|
|
|
Total investment income
Total interest expense
|
$14,242
8,219
|
$10,653
6,575
|
$51,393
30,704
|
$39,635
24,190
|
|
|
|
|
Net interest income |
6,023 |
4,078 |
20,689 |
15,445 |
Total noninterest income
|
747
|
595
|
2,444
|
2,646
|
|
|
|
Salaries and benefits
Professional fees
Rent expense
Other operating expenses
|
2,433
449
377
991
|
1,655
476
422
1,155
|
10,192
2,603
1,353
3,687
|
8,193
1,955
1,266
3,512
|
|
|
|
|
Total operating expenses |
4,250 |
3,708 |
17,835 |
14,926 |
|
|
|
|
Net investment income before income taxes
Income tax (provision) benefit
|
2,520
-
|
965
-
|
5,298
-
|
3,165
-
|
|
|
|
|
Net investment income after income taxes |
2,520 |
965 |
5,298 |
3,165 |
|
|
|
|
Net realized gains (losses) on investments
Net change in unrealized appreciation (depreciation) on investments
Net change in unrealized appreciation on Medallion Bank and other controlled subsidiaries
|
2,033
31
(802)
|
2,539
789
1,551
|
14,172
(6,326)
2,292
|
3,080
(591)
7,454
|
|
|
|
Net unrealized gains (losses) on investments
|
(771) |
2,340 |
(4,034) |
6,863 |
|
|
|
Net realized/unrealized gains on investments
|
1,262 |
4,879 |
10,138 |
9,943 |
Net increase in net assets resulting from operations
|
$3,782
|
$5,844
|
$15,436
|
$13,108
|
|
|
|
Net investment income after income taxes per common share
|
|
|
|
|
Basic
Diluted
|
$0.14
0.14
|
$0.06
0.05
|
$0.30
0.30
|
$0.18
0.18
|
|
Net increase in net assets resulting from operations per common share
|
|
|
|
|
Basic
Diluted
|
$0.22
0.21
|
$0.34
0.33
|
$0.88
0.87
|
$0.76
0.74
|
|
|
Dividends declared per share
|
$0.19
|
$0.19
|
$0.76
|
$0.70
|
|
Weighted average common shares outstanding
|
|
|
|
|
Basic
Diluted
|
17,502,995
17,764,282
|
17,364,241
17,770,893
|
17,480,523
17,786,310
|
17,293,665
17,761,039
|
- Back to Press Release
- Consolidated Balance Sheets
Medallion Financial Corp. is a specialty finance company with a leading position in the origination and servicing of loans financing the purchase of taxicab medallions and related assets. The Company also originates and services commercial and consumer loans in targeted niche industries. The Company and its subsidiaries have lent over $3 billion to its taxicab, commercial, and consumer customers.
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. Medallion's actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading "Risk Factors," in Medallion's 2005 Annual Report on Form 10-K.
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