News

Newtek’s Earnings Per Share Rise 67% in Q2 2013

08.12.13

Newtek Business Services, Inc. just reported its second quarter financial results, and the company’s numbers are way up!

Diluted earnings per share increased 67% to $0.05 for the second quarter, and have increased by 50% for the first six months of the year compared to 2012.

Total revenues rose 14% over 2012 up to $37 million. This led to net income rising by 48% and EBITDA increasing by 39%.

Newtek also funded almost $43 million in loans during the second quarter. An increase of 104% over 2012.

CEO Barry Sloane concluded, “The Small Business Authority┬« brand continues to provide high levels of satisfaction to independent business owners in all 50 states. Evidenced by our consistent top- and bottom-line growth, Newtek is quickly becoming the brand of choice for small- and medium-sized businesses with our myriad of financial and technological solutions coupled with our premier level of service. And while we have experienced significant growth both financially and operationally, we still have a tremendous opportunity to continue to penetrate the vast small- to medium-sized business market of over 27.5 million businesses. In short, we believe the best is yet to come, and we anticipate delivering our fourth consecutive year of growth and upward trending profitability in 2013, with guidance of a 13% increase in operating revenues and a 22% increase in pretax net income.”

Newtek is the Small Business Authority, providing services and financial products to small and medium businesses. Ocean Media provides media planning and media buying services to Newtek. Check out this recent commercial from our media buying campaign:

Source: PR Newswire