Leasing Solutions fourth quarter earnings per share increases 33% to a record $.24; net income increases 59%; 1994 net income rises 43%; earnings per
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 26, 1995--Leasing Solutions Inc. (NASDAQ:LSSI) announced Thursday that net income for the fourth quarter ended December 31, 1994, increased 59% to a record $1,501,000, or $.24 per share, from $945,000, or $.18 per share, for the same period in 1993, as revenue advanced 15% to a record $16,198,000 from $14,067,000 a year earlier.
"The sharp advance in earnings per share for the fourth quarter reflects the successful deployment of the capital raised in the company's secondary public stock offering in March, 1994," said Hal Krauter, president of Leasing Solutions.
For the twelve months ended December 31, 1994, net income rose 43% to a record $4,592,000, or $.75 per share, from $3,219,000, or $.66 per share for 1993. Revenue advanced 18% to a record $60,087,000 from $50,818,000 for the prior year.
"These record results confirm the validity of our strategy to achieve controlled, steady growth. During 1994, we enhanced the flow of lease opportunities available to the company by establishing important new vendor relationships and launching additional marketing initiatives.
"We enhanced our ability to take advantage of these opportunities by significantly expanding our access to capital. We further refined our internal management controls and procedures in our continuing efforts to achieve maximum profitability consistent with an acceptable level of risk for all of the leases we write," Krauter said.
"For the second consecutive year, our record performance was achieved with virtually no increase in employment. This performance is a tribute to the commitment and quality of all Leasing Solutions' employees," Krauter added.
Leasing Solutions, founded in 1986, is a full-service vendor leasing company that specializes in leasing information processing and communications equipment, principally to large, creditworthy customers. Most leases written by the company qualify as operating leases.
Leasing Solutions has purchased over $485 million of equipment, representing over 115,000 assets, and currently services over 350 customers. Based in San Jose, the company maintains regional leasing offices in Atlanta, Boston, Chicago, Dallas and San Jose.
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 26, 1995--Leasing Solutions Inc. (NASDAQ:LSSI) announced Thursday that net income for the fourth quarter ended December 31, 1994, increased 59% to a record $1,501,000, or $.24 per share, from $945,000, or $.18 per share, for the same period in 1993, as revenue advanced 15% to a record $16,198,000 from $14,067,000 a year earlier.
"The sharp advance in earnings per share for the fourth quarter reflects the successful deployment of the capital raised in the company's secondary public stock offering in March, 1994," said Hal Krauter, president of Leasing Solutions.
For the twelve months ended December 31, 1994, net income rose 43% to a record $4,592,000, or $.75 per share, from $3,219,000, or $.66 per share for 1993. Revenue advanced 18% to a record $60,087,000 from $50,818,000 for the prior year.
"These record results confirm the validity of our strategy to achieve controlled, steady growth. During 1994, we enhanced the flow of lease opportunities available to the company by establishing important new vendor relationships and launching additional marketing initiatives.
"We enhanced our ability to take advantage of these opportunities by significantly expanding our access to capital. We further refined our internal management controls and procedures in our continuing efforts to achieve maximum profitability consistent with an acceptable level of risk for all of the leases we write," Krauter said.
"For the second consecutive year, our record performance was achieved with virtually no increase in employment. This performance is a tribute to the commitment and quality of all Leasing Solutions' employees," Krauter added.
Leasing Solutions, founded in 1986, is a full-service vendor leasing company that specializes in leasing information processing and communications equipment, principally to large, creditworthy customers. Most leases written by the company qualify as operating leases.
Leasing Solutions has purchased over $485 million of equipment, representing over 115,000 assets, and currently services over 350 customers. Based in San Jose, the company maintains regional leasing offices in Atlanta, Boston, Chicago, Dallas and San Jose.
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