 |
|
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August 8, 2006
Consolidated Income Statements
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Quarter Ended
|
Six Months Ended
|
|
|
|
|
June 30,
|
June 30,
|
|
|
|
|
2006
|
2005
|
2006
|
2005
|
|
|
|
Total investment income
Total interest expense |
$16,497,773
8,544,379
|
$14,137,562
5,870,877
|
$32,944,967
15,973,107
|
$27,103,822
11,092,212
|
|
|
|
|
Net interest income |
7,953,394 |
8,266,685 |
16,971,860 |
16,011,610 |
|
|
|
|
Gain on sale of loans
Other income
|
-
883,757
|
375,431
1,142,481
|
-
1,283,674
|
614,950
1,815,719
|
|
|
|
|
Total noninterest income |
883,757 |
1,517,912 |
1,283,674 |
2,430,669 |
|
|
|
|
Salaries and benefits
Professional fees
Other operating expenses
|
2,885,872
552,201
1,663,441
|
2,786,788
482,121
2,077,902
|
5,325,105
1,162,984
3,263,928
|
5,750,804
987,378
3,949,624
|
|
|
|
|
Total operating expenses |
5,101,514 |
5,346,811 |
9,752,017 |
10,687,806 |
|
|
|
|
Net investment income before income taxes
Income tax provision |
3,735,637
1,304,979
|
4,437,786
684,371
|
8,503,517
2,306,550
|
7,754,473
1,241,032
|
Net investment income after income taxes
|
2,430,658
|
3,753,415
|
6,196,967
|
6,513,441
|
|
|
|
Net realized gains (losses) on investments
Net change in unrealized appreciation (depreciation) on investments
|
2,286,887
(641,479)
|
(682,815)
(2,623,257)
|
45,464
(380,193)
|
1,365,072
(5,195,493)
|
|
|
|
Net realized/unrealized loss on investments
|
1,645,408
|
(3,306,072)
|
(334,729)
|
(3,830,421)
|
Net increase in net assets resulting from operations
|
$ 4,076,066
|
$ 447,343
|
$ 5,862,238
|
$ 2,683,020
|
|
|
|
Weighted average common shares outstanding
|
|
|
|
|
Basic
Diluted
|
17,283,907
17,799,377
|
16,969,568
17,413,963
|
17,248,007
17,760,920
|
17,063,025
17,507,421
|
|
Net investment income after income taxes per share
|
|
|
|
|
Basic
Diluted
|
$0.14
0.14
|
$0.22
0.22
|
$0.36
0.35
|
$0.38
0.37
|
|
Net increase in net assets resulting from operations per share
|
|
|
|
|
Basic
Diluted
|
$0.24
0.23
|
$0.03
0.03
|
$0.34
0.33
|
$0.16
0.15
|
|
|
Declared dividends per share
|
$0.17
|
$0.13
|
$0.33
|
$0.25
|
- 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 "Risk Factors," in Medallion's 2005 Annual Report on Form 10-K.
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