TFCE News
Tuesday October 20, 6:51 pm Eastern Time
TFC Enterprises Inc Q3 shr profit
NORFOLK, Va., Oct. 20 (Reuters) -
Three months ended Nine months ended
9/30/98 9/30/97 9/30/98 9/30/97
(in thousands, except per share amounts)
Interest and other
finance revenue $10,094 $ 7,770 28,015 $24,185
Interest expense 3,347 2,981 9,590 9,040
Net interest revenue 6,747 4,789 18,425 15,145
Provision for
credit losses 171 214 491 466
Net interest revenue
after provision for
credit losses 6,576 4,575 17,934 14,679
Other revenue 252 218 881 813
Operating expense:
Salaries 2,727 2,397 8,170 7,233
Employee benefits 512 390 1,485 1,086
Occupancy 227 216 671 668
Equipment 311 300 927 930
Amortization of
intangible assets 273 273 819 819
Other 1,429 1,287 4,092 3,931
Total operating
expense 5,479 4,863 16,164 14,667
Income (loss) before
income taxes 1,349 (70) 2,651 825
Provision for (benefit from)
income taxes -- -- -- --
Net income 1,349 (70) 2,651 825
Net income per
basic common share .12 (.01) .23 .07
Net income per
diluted common share .11 (.01) .22
Good Trading Allan P
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