KBK Capital Corporation, which provides financial services to middle-market businesses, today reported its operating results for the second quarter and first half of the year 2001.
For the three-month period ended June 30, 2001, the Company reported a net loss of $950,500, or ($0.36) per diluted share, compared with a net income of $405,300, or $0.14 per diluted share, in the second quarter of 2000. The net loss during the first six months of 2001 totalled $4,894,800, or ($1.83) per diluted share, which represented a $5,552,300 decrease when compared with net income of $657,500, or $0.23 per diluted share, in the corresponding period of the prior year.
Commenting on this quarter's results, Robert McGee, Chairman & CEO said, "The abrupt weakening in the U.S. business environment experienced during the later part of 2000 and the first half of this year had a profoundly negative impact on the portfolio quality of many small business lenders.
