Marlin Reports First Quarter 2020 Results and Declares a Cash Dividend of $0.14 Per Share
Marlin Business Services Corp. (MRLN)
Last marlin business services corp. earnings: 8/1 04:05 pm
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US:NASDAQ Investor Relations:
investor.marlinfinance.com
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Source: GlobeNewswire
First Quarter Summary: Net loss of $11.8 million, or $1.00 per diluted share, compared with net income of $5.1 million, or $0.41 per diluted share a year ago and $8.4 million, or $0.69 per diluted share last quarter. Net loss on an adjusted basis* of $10.0 million, or $0.84 per diluted share, compared with net income on an adjusted basis of $5.0 million, or $0.40 per diluted share a year agoTotal sourced origination volume of $157.4 million, down 24.5% year-over-year. Total origination yield of 12.45%, up 2 basis points from the prior quarter and down 31 basis points year-over-yearNet Investment in Leases and Loans totaled $970.1 million, compared with $1.0 billion a year ago; total managed assets ended the first quarter at $1.3 billion, up 6.8% from a year agoTotal Allowance for credit losses of $52.1 million, representing a $30.4 million increase from December 31, 2019, which includes an $11.9 million increase from the adoption of Accounting Standards Update (“ASU”) 2016-13, Finan
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