 |
|
|
May 10, 2007
Consolidated Statements of Operation (Unaudited)
|
Three Months Ended March 31,
|
|
|
|
2007
|
2006
|
|
|
Total investment income
Total interest expense |
$10,439,283
6,749,619
|
$10,014,435
5,373,639
|
|
|
|
Net interest income |
3,689,664 |
4,640,796 |
|
|
|
|
|
|
Total noninterest income |
490,433 |
615,678 |
|
|
|
Salaries and benefits
Professional fees
Rent expense
Other operating expenses
|
2,733,272
604,993
333,290
903,511
|
1,921,152
556,052
298,687
753,232
|
|
|
|
Total operating expenses |
4,575,066 |
3,529,123 |
|
|
Net investment income (loss) before income taxes
|
(394,969)
|
1,727,351
|
|
|
|
| Income tax (provision) benefit |
- |
- |
Net investment income (loss) after income taxes
|
(394,969)
|
1,727,351
|
|
|
|
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
|
10,011,590
(8,038,520)
2,202,110
|
(1,856,236)
568,629
1,346,939
|
|
|
Net unrealized gains (losses) on investments
|
(5,836,410)
|
1,915,568
|
Net realized/unrealized gains on investments
|
4,175,180
|
59,332
|
|
|
Net increase in net assets resulting from operations
|
$3,780,211
|
$1,786,683
|
|
|
|
Net increase in net assets resulting from operations per common share
|
|
|
Basic
Diluted
|
$0.22
0.21
|
$0.10
0.10
|
|
Dividends declared per share
|
$0.16
|
$0.12
|
|
Weighted average common shares outstanding
|
|
|
Basic
Diluted
|
17,427,387
17,764,663
|
17,211,707
17,722,064
|
- 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 other commercial in targeted niche industries and its wholly owned portfolio company Medallion Bank also originates and services consumer loans. The Company and its subsidiaries have lent over $2.6 billion.
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 2006 Annual Report on Form 10-K.
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