NTBK , OSTE, LXK, EMC beats estimates,
NTBK Inc. Announces Third Quarter Results for
Fiscal 1998
ATLANTA, Oct. 20 /PRNewswire/ -- Net.B@nk, Inc. (Nasdaq: NTBK - news), the world's largest and only profitable
Internet bank, announced today its results for the third quarter and first nine months of 1998. For the quarter ended September
30, 1998, the Company recorded a $613,000 net income or $0.10 per share compared to a $1,518,000 loss or ($0.32) loss
per share for the same quarter a year ago. Net income for the nine months ended September 30, 1998, was $3,731,000 or
$0.58 per share (having recorded a $3.0 million income tax benefit in June 1998 related to prior period tax loss carryforwards)
compared to a $4,738,000 loss or a ($1.96) loss per share for the nine months ended September 30, 1997.
At the Company's October board meeting, D. R. Grimes, CEO of Net.B@nk, stated, ''In a period of instability for many
financial institutions, Net.B@nk has continued its unprecedented growth by tripling its number of accounts thus far this year to
approximately 15,000 accounts. |
