 |
|
|
May 9, 2005
Consolidated Income Statements
|
Quarter Ended
|
|
March 31,
2005
|
December 31,
2004
|
March 31,
2004
|
|
 |
Total investment income
Total interest expense
|
$12,966,259
5,221,336
|
$11,255,249
4,982,921
|
$6,485,248
2,897,692
|
|
|
Net interest income
|
7,744,923
|
6,272,328
|
3,587,556
|
|
|
|
Gain on sale of loans
Other income
|
239,520
673,238
|
173,948
757,133
|
213,278
550,264
|
|
|
Total noninterest income
|
912,758
|
931,081
|
763,542
|
|
|
|
Salaries and benefits
Professional fees
Other operating expenses
|
2,912,428
505,257
1,923,308
|
2,249,620
465,118
1,854,145
|
2,401,722
454,532
1,511,606
|
|
|
| Total operating expenses |
5,340,993 |
4,568,883 |
4,367,860 |
|
|
| Net investment income before income taxes |
3,316,688 |
2,634,526 |
(16,762) |
|
|
Income tax provision
|
556,661
|
496,460
|
45,100
|
| Net investment income after tax |
2,760,027 |
2,138,066 |
(61,862) |
|
|
Net realized gains (losses) on investments
Net change in unrealized app/(dep)
|
2,047,887
(2,572,235)
|
3,272,872
(1,823,410)
|
(199,234)
(1,118,591)
|
Net realized/unrealized gain (loss)
|
(524,348)
|
1,449,462
|
(1,317,825)
|
|
|
Net increase in net assets from operations
|
$2,235,679
|
$3,587,528
|
$(1,379,687)
|
|
|
Weighted average shares
|
|
|
|
Basic
Diluted
|
17,135,682
17,605,676
|
17,575,356
18,030,899
|
18,219,999
18,676,754
|
|
Net investment income after income taxes per share
|
|
|
|
Basic
Diluted
|
$0.16
0.16
|
$0.12
0.12
|
$(0.00)
(0.00)
|
|
Net increase in net assets per share
|
|
|
|
Basic
Diluted
|
$0.13
0.13
|
$0.20
0.20
|
$(0.08)
(0.07)
|
|
|
Declared dividends per share
|
$0.12
|
$0.11
|
$0.08
|
- 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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