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Franklin Credit's 1stQ Earnings Rise by 51%.(Brief Article)
New York -- Franklin Credit Management, a specialty consumer finance company that acquires, originates, services and resolves performing and nonperforming mortgage loans, said that net income increased 51% in the first quarter to $3.1 million.
The company's earnings per share were $0.45, compared to $0.30 in the first quarter of last year. Total revenue increased 85% to $27.9 million, compared to $15.1 million a year earlier. The company's total assets increased 11.7% from a year earlier, totaling $996.1 million at the end of the first quarter.
Jeffrey Johnson, CEO of Franklin Credit Management, said in the company's earnings release that large acquisitions, principally ...
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