 |
|
|
March 2, 2006
Consolidated Income Statements
|
Quarter Ended
|
Full Year Ended
|
|
|
|
|
December 31,
|
December 31,
|
|
|
|
|
2005
|
2004
|
2005
|
2004
|
|
|
|
Total investment income
Total interest expense |
$15,370,385
6,807,594
|
$11,255,249
4,982,920
|
$57,173,216
24,396,773
|
$39,119,381
16,063,583
|
|
|
|
|
Net interest income |
8,562,791 |
6,272,329 |
32,776,443 |
23,055,798 |
|
|
|
|
Gain on sale of loans
Other income
|
46,874
544,219
|
173,948
757,133
|
884,608
2,995,749
|
904,074
2,575,355
|
|
|
|
|
Total noninterest income |
591,093 |
931,081 |
3,880,357 |
3,479,429 |
|
|
|
|
Salaries and benefits
Professional fees
Other operating expenses
|
2,423,767
716,618
1,828,683
|
2,249,618
465,118
1,854,145
|
10,930,137
2,266,839
8,038,363
|
9,417,185
1,776,251
7,743,645
|
|
|
|
|
Total operating expenses |
4,969,068 |
4,568,881 |
21,235,339 |
18,937,081 |
|
|
|
|
|
Income tax provision |
422,061 |
496,460 |
1,959,095 |
2,170,737 |
Net investment income after income taxes
|
3,762,755
|
2,138,069
|
13,462,366
|
5,427,409
|
|
|
|
Net realized gains (losses) on investments
Net change in unrealized depreciation on investments
|
(2,434,258)
(725,938)
|
3,272,873
(1,823,409)
|
1,081,005
(7,681,869)
|
(25,791)
17,110,411
|
|
|
|
Net realized/unrealized losses on investments
|
(3,160,196)
|
1,449,464
|
(6,600,864)
|
17,084,620
|
Net increase (decrease) in net assets from operations
|
$602,559
|
$3,587,533
|
$6,861,502
|
$22,512,029
|
|
|
|
Weighted average shares
|
|
|
|
|
Basic
Diluted
|
17,155,302
17,591,130
|
17,575,356
18,030,899
|
17,087,034
17,552,228
|
18,001,604
18,424,518
|
|
|
Net investment income after income taxes per share
|
|
|
|
|
Basic
Diluted
|
$0.22
0.21
|
$0.12
0.12
|
$0.79
0.77
|
$0.30
0.29
|
|
|
Net increase (decrease) in net assets from operations per share
|
|
|
|
|
Basic
Diluted
|
$0.04
0.03
|
$0.20
0.20
|
$0.40
0.39
|
$1.25
1.22
|
|
|
Dividends declared per share
|
$0.15
|
$0.11
|
$0.54
|
$0.37
|
|
- Back to Press Release
- Consolidated Balance Sheets
- Selected Financial Trends
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 $2 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 "Investment Considerations," in Medallion's 2004 Annual Report on Form 10-K.
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