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March 10, 2005
Consolidated Income Statements
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Quarter Ended
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Full Year Ended
|
|
|
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|
December 31,
|
December 31,
|
|
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|
|
2004
|
2003
|
2004
|
2003
|
|
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|
Total investment income
Total interest expense |
$11,255,249
4,982,921
|
$6,524,650
2,703,141
|
$39,119,381
16,063,583
|
$26,214,365
12,041,931
|
|
|
|
|
Net interest income |
6,272,328 |
3,821,509 |
23,055,798 |
14,172,434 |
|
|
|
|
Gain on sale of loans
Other income
|
173,948
757,133
|
52,417
834,903
|
904,074
2,575,355
|
856,083
3,600,783
|
|
|
|
|
Total noninterest income |
931,081 |
887,320 |
3,479,429 |
4,456,866 |
|
|
|
|
Salaries and benefits
Professional fees
Other operating expenses
|
2,249,620
465,118
1,854,145
|
2,166,338
428,446
1,939,631
|
9,417,185
1,776,251
7,743,645
|
9,110,058
1,247,687
6,815,918
|
|
|
|
|
Total operating expenses |
4,568,883 |
4,534,415 |
18,937,081 |
17,173,663 |
|
|
|
|
|
Income tax provision |
496,460 |
|
2,170,737 |
41,149 |
Net investment income after income taxes
|
2,138,066
|
174,414
|
5,427,409
|
1,414,488
|
|
|
|
Net realized gains (losses) on investments
Net change in unrealized appreciation (depreciation) on investments
|
3,272,872
(1,823,410)
|
(620,250)
167,680
|
(25,791)
17,110,411
|
11,526,628
(10,923,093)
|
|
|
|
Net realized/unrealized gain (loss) on investments
|
1,449,462
|
(452,570)
|
17,084,620
|
603,535
|
Net increase in net assets resulting from operations
|
$3,587,528
|
$(278,156)
|
$22,512,029
|
$2,018,023
|
|
|
|
Weighted average shares
|
|
|
|
|
Basic
Diluted
|
17,575,356
18,030,899
|
18,252,311
18,691,954
|
18,001,604
18,424,518
|
18,245,774
18,287,952
|
|
|
Declared dividends per share
|
$ 0.11
|
$ 0.07
|
$ 0.37
|
$ 0.16
|
|
Net investment income after income taxes per share
|
|
|
|
|
Basic
Diluted
|
$ 0.12
0.12
|
$ 0.01
0.01
|
$ 0.30
0.29
|
$ 0.08
0.08
|
|
Net increase in net assets per share
|
|
|
|
|
Basic
Diluted
|
$ 0.20
0.20
|
$ (0.02)
(0.01)
|
$ 1.25
1.22
|
$ 0.11
0.11
|
- Back to Press Release
- Consolidated Balance Sheets
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 "Investment Considerations," in Medallion's 2002 Annual Report on Form 10-K.
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