Leasing Solutions' Earnings Per Share Increased 42% to $0.47; Revenues Increased 41% to Record $63.9 Million
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 22, 1998--Leasing Solutions Inc. (NYSE:LSN), announced today that revenue for the three months ended Dec. 31, 1997 advanced 41% to a record $63,961,000 from $45,472,000 for the same period in 1996.
Net income rose 46% to a record $4,058,000 from $2,776,000 a year earlier. Diluted earnings per share for the three months ended Dec. 31, 1997 increased 42% to $0.47 per share compared to $0.33 per share for the same period in 1996.
For the twelve months ended Dec. 31, 1997, revenue increased to a record $225,243,000, 56% above the $144,596,000 reported for the prior year. Net income rose 39% to a record $13,061,000 from $9,373,000, for 1996. Diluted earnings per share for the twelve months ended Dec. 31, 1997 increased 34% to $1.55 per share compared to $1.16 per share for 1996.
"1997 was a dynamic year for us. We expanded into Canada and broadened our European presence with offices in Belgium, France, Germany and the Netherlands. We have established strategic alliances with Vanstar Corporate and Fujitsu PC Corp. Our move to the NYSE in November highlighted our strong financial track record and growth and demonstrated our continuous effort to enhance shareholder value," said Hal Krauter, Leasing Solutions' president and chief executive officer.
"Our geographic expansion and new relationships have enhanced our ability to service a global marketplace. Today, we are positioned to provide worldwide financing solutions for our increasing number of multinational customers. Our significant achievements during 1997 were the product of the commitment and dedication of Leasing Solutions' worldwide team of outstanding employees," added Krauter.
Leasing Solutions is a full-service leasing company that specializes in leasing information processing and communications equipment, principally to large, corporate customers. Most leases written by the company qualify as operating leases. Leasing Solutions has purchased over $1.250 billion of equipment, representing over 300,000 assets, and services over 700 customers.
Based in San Jose, the company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada, the United Kingdom, Belgium, France, Germany, and the Netherlands. -0-
Net income rose 46% to a record $4,058,000 from $2,776,000 a year earlier. Diluted earnings per share for the three months ended Dec. 31, 1997 increased 42% to $0.47 per share compared to $0.33 per share for the same period in 1996.
For the twelve months ended Dec. 31, 1997, revenue increased to a record $225,243,000, 56% above the $144,596,000 reported for the prior year. Net income rose 39% to a record $13,061,000 from $9,373,000, for 1996. Diluted earnings per share for the twelve months ended Dec. 31, 1997 increased 34% to $1.55 per share compared to $1.16 per share for 1996.
"1997 was a dynamic year for us. We expanded into Canada and broadened our European presence with offices in Belgium, France, Germany and the Netherlands. We have established strategic alliances with Vanstar Corporate and Fujitsu PC Corp. Our move to the NYSE in November highlighted our strong financial track record and growth and demonstrated our continuous effort to enhance shareholder value," said Hal Krauter, Leasing Solutions' president and chief executive officer.
"Our geographic expansion and new relationships have enhanced our ability to service a global marketplace. Today, we are positioned to provide worldwide financing solutions for our increasing number of multinational customers. Our significant achievements during 1997 were the product of the commitment and dedication of Leasing Solutions' worldwide team of outstanding employees," added Krauter.
Leasing Solutions is a full-service leasing company that specializes in leasing information processing and communications equipment, principally to large, corporate customers. Most leases written by the company qualify as operating leases. Leasing Solutions has purchased over $1.250 billion of equipment, representing over 300,000 assets, and services over 700 customers.
Based in San Jose, the company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada, the United Kingdom, Belgium, France, Germany, and the Netherlands. -0-
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 22, 1998--Leasing Solutions Inc. (NYSE:LSN), announced today that revenue for the three months ended Dec. 31, 1997 advanced 41% to a record $63,961,000 from $45,472,000 for the same period in 1996.
Net income rose 46% to a record $4,058,000 from $2,776,000 a year earlier. Diluted earnings per share for the three months ended Dec. 31, 1997 increased 42% to $0.47 per share compared to $0.33 per share for the same period in 1996.
For the twelve months ended Dec. 31, 1997, revenue increased to a record $225,243,000, 56% above the $144,596,000 reported for the prior year. Net income rose 39% to a record $13,061,000 from $9,373,000, for 1996. Diluted earnings per share for the twelve months ended Dec. 31, 1997 increased 34% to $1.55 per share compared to $1.16 per share for 1996.
"1997 was a dynamic year for us. We expanded into Canada and broadened our European presence with offices in Belgium, France, Germany and the Netherlands. We have established strategic alliances with Vanstar Corporate and Fujitsu PC Corp. Our move to the NYSE in November highlighted our strong financial track record and growth and demonstrated our continuous effort to enhance shareholder value," said Hal Krauter, Leasing Solutions' president and chief executive officer.
"Our geographic expansion and new relationships have enhanced our ability to service a global marketplace. Today, we are positioned to provide worldwide financing solutions for our increasing number of multinational customers. Our significant achievements during 1997 were the product of the commitment and dedication of Leasing Solutions' worldwide team of outstanding employees," added Krauter.
Leasing Solutions is a full-service leasing company that specializes in leasing information processing and communications equipment, principally to large, corporate customers. Most leases written by the company qualify as operating leases. Leasing Solutions has purchased over $1.250 billion of equipment, representing over 300,000 assets, and services over 700 customers.
Based in San Jose, the company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada, the United Kingdom, Belgium, France, Germany, and the Netherlands. -0-
Net income rose 46% to a record $4,058,000 from $2,776,000 a year earlier. Diluted earnings per share for the three months ended Dec. 31, 1997 increased 42% to $0.47 per share compared to $0.33 per share for the same period in 1996.
For the twelve months ended Dec. 31, 1997, revenue increased to a record $225,243,000, 56% above the $144,596,000 reported for the prior year. Net income rose 39% to a record $13,061,000 from $9,373,000, for 1996. Diluted earnings per share for the twelve months ended Dec. 31, 1997 increased 34% to $1.55 per share compared to $1.16 per share for 1996.
"1997 was a dynamic year for us. We expanded into Canada and broadened our European presence with offices in Belgium, France, Germany and the Netherlands. We have established strategic alliances with Vanstar Corporate and Fujitsu PC Corp. Our move to the NYSE in November highlighted our strong financial track record and growth and demonstrated our continuous effort to enhance shareholder value," said Hal Krauter, Leasing Solutions' president and chief executive officer.
"Our geographic expansion and new relationships have enhanced our ability to service a global marketplace. Today, we are positioned to provide worldwide financing solutions for our increasing number of multinational customers. Our significant achievements during 1997 were the product of the commitment and dedication of Leasing Solutions' worldwide team of outstanding employees," added Krauter.
Leasing Solutions is a full-service leasing company that specializes in leasing information processing and communications equipment, principally to large, corporate customers. Most leases written by the company qualify as operating leases. Leasing Solutions has purchased over $1.250 billion of equipment, representing over 300,000 assets, and services over 700 customers.
Based in San Jose, the company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada, the United Kingdom, Belgium, France, Germany, and the Netherlands. -0-
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