Loans4Less.com today reported certain preliminary financial results for the third quarter ended September 30, 2012. According to today’s press release, the complete 2012 third quarter financial results will be posted in due course.
Revenues for the third quarter of 2012 are expected to be approximately 56% higher than the numbers reported for the third quarter of 2011. Third quarter net income is anticipated to be 437% greater compared to the same period a year earlier. Preliminary results also indicate that there will be a substantial improvement in the balance sheet.
Loans4Less.com believes the mortgage origination market will stay very active for the remainder of 2012 even though lender underwriting standards are enabling only best credit quality borrowers to close on their loans. The current mortgage market mainly consists of Fannie Mae/Freddie Mac Conforming fixed rate loans for refinancings.
Steven M. Hershman, Chairman & President, stated, “Purchase activity is gaining traction with mortgage rates at record lows. Loans4Less.com sees highly favorable market conditions as a catalyst for ongoing significant improvement in our business growth and future expansion.”
Q3 2012 Income Statement versus Q3 2011
Revenues $730K versus $468K + 56%
Net Income $258K versus $48K +437%
Q3 2012 Balance Sheet versus Q3 2011
Cash $72.5K versus $8K
Total Liabilities $79.4K versus $206.6K
Common Stock Outstanding
30,550,000 versus 31,155,000
Public Float
3,157,981 versus 2,115,078
For more information, visit www.Loans4Less.com
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