Annual report pursuant to Section 13 and 15(d)

Transitional Condensed Statement of Operations

v2.4.0.8
Transitional Condensed Statement of Operations
 12 Months Ended
Dec. 31, 2013
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Transitional Condensed Statement of Operations

16. Transitional Condensed Statement of Operations

The following table summarizes our quarterly transitional financial data for the three months ended December 31, 2012, and the comparable three months ended December 31, 2011. In the opinion of management, these results of operations reflect all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of our results of operations:

 

     Three Months Ended December 31,  
     2012     2011  
           (Unaudited)  
     (Amounts in thousands)  

Net Investment Revenue:

     

Income from financing receivables

    $ 2,834      $ 3,350   

Investment interest expense

      (2,347 )      (2,821 ) 
  

 

 

    

 

 

  

Net Investment Revenue

      487        529   

Other Investment Revenue:

     

Gain on securitization of receivables

      2,534        1,940   

Fee income

      254        288   
  

 

 

    

 

 

  

Other Investment Revenue

      2,788        2,228   
  

 

 

    

 

 

  

Total Revenue, net of investment interest expense

      3,275        2,757   
  

 

 

    

 

 

  

Compensation and benefits

      (1,157 )      (1,065 ) 

General and administrative

      (584 )      (626 ) 

Depreciation and amortization of intangibles

      (105 )      (113 ) 

Other interest expense

      (56 )      (83 ) 

Other income

      1        14   

Unrealized gain on derivative instruments

      23        29   

(Loss) from equity method investment in affiliate

      (448 )      (799 ) 
  

 

 

    

 

 

  

Other Expenses, net

      (2,326 )      (2,643 ) 
  

 

 

    

 

 

  

Net Income

    $ 949      $ 114