KBK Capital Corporation, which provides financing for middle-market businesses, today reported its operating results for the quarter and year ended December 31, 2001. In July 2001, plans were unveiled for returning the company to profitability and progress reports (see below) produced in the light of the operating results show that their specific goal with regard to the expansion of their factoring operations has been exceeded.
The results show that for the year ended 31 December 2001, the company reported a net loss of ($8,936,400), compared with net income of $1,238,400 in the prior year. Net loss per diluted share totaled ($3.61) in 2001, versus net income of $0.43 in the previous year. The weighted average number of diluted shares outstanding decreased 13% to 2,475,127 in the year just ended, compared with 2,852,819 in the year ended 31 December 2000.
