The financial services company, Asta Funding Inc., which specialises in factoring as well as the purchase, liquidation and management of non-conforming consumer receivables, today reported results for its first quarter ended 31 December 2000.
Net income for the quarter had risen by 45% to $1,754,000 from $1,211,000 compared to the corresponding period in the previous year. Revenues for the quarter had risen 32% on those of the corresponding quarter in the previous year from $3,136,000 to $4,134,000.
The president and chief executive officer of Asta Funding, Gary Stern, said “Asta is very pleased with its recent factoring receivables acquisitions and will continue to pursue other business and consumer receivable acquisitions. The company also anticipates continued growth this fiscal year in the light of economic conditions.”
Source: PR Newswire
BCR Comment
