Carfinco Keeps Record Streak Moving Along
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EDMONTON, Alberta –
Carfinco Income Fund has pushed its record streak to nine quarters, the company announced this week.
Reporting $5.8 million in second-quarter pre-income tax earnings, Carfinco now has broken records in this metric each quarter beginning with the second quarter of 2009.
In that period that kicked off the record streak, Carfinco generated pre-tax income of $1.8 million. And it has snowballed ever since.
The most recent period marked a 24.3-percent year-over-year increase for pre-tax income and a 5.0-percent hike from the first quarter. The period saw Carfinco generate $14.4 million in revenues (up 21.4 percent from the year-ago period).
Loan originations climbed 11.4 percent from the second quarter of 2010 and came in at $28.0 million.
Meanwhile, net earnings and comprehensive income for the period totaled $4.3 million, down from $4.7 million in the second quarter of 2010. However, in the more recent period, Carfinco had taxes of $1.5 million, compared to a recovery of $61,906 in the year-ago quarter.
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