Highlights form latest conference call:
1)Revenues for our third quarter were a 15% increase over the third quarter last year. For the year-to-date 17% increase over the first nine months of 2015. Revenues are driven by our portfolio growth and our consolidated portfolio did increase 19% compared to a year ago.
2)Earnings per share of $0.26 for the quarter EPS - for the full year so far nine months $0.75
3) The competition - it is tough environment where you have a lot of small companies that sort of entered the market to take advantage of it a few years back. They are all struggling and even more importantly some of the very large companies in our industry are struggling. And so between that we sort of sit in the middle, Some guys have gone public and everybody wants to know what is going to happen there. So they sort of bypass us because we are already public, everything is going fine, and we actually make more money than lots of other folks.
4)This is probably the first time in 25 year history of the company where we are actually in a real good firm spot to sort of wait and see how the rest of it shapes up. So what is interesting and new it is sort of not a bad place to be.
5) We continue on our stock repurchase. We bought 421,000 shares this quarter and it is down a little from the 850,000 we bought the previous quarter. But we have now bought over 3 million shares, we will continue to buy it as often as we can.
6) good news is our book value as of today is now $7.54 a share that is versus $6 a year ago, give or take.
7)I think recession will show up, I don’t know if it is tomorrow but again we are very well prepared for it.
Note: current PPS only 5.16 (Eps cca 1.00, Book value 7.46)
