Rifco has record year

Rifco Inc. (TSXV:RFC) finished its 2012 fiscal year on a record note, with its revenues, earnings, earnings per share, finance receivables, loan originations and other financial indicators at all-time highs.

Rifco Inc. (TSXV:RFC) finished its 2012 fiscal year on a record note, with its revenues, earnings, earnings per share, finance receivables, loan originations and other financial indicators at all-time highs.

The Red Deer-based company, which provides non-traditional loans in the automotive sector, reported on Thursday that its revenues for the fiscal year ended March 31 were $24 million, up 44 per cent from $16.7 million in 2011. Net income was up 88 per cent, to $4.7 million from $2.5 million; and earnings per share jumped 82 per cent, to 23.3 cents from 12.8 cents.

During its fourth quarter, Rifco’s revenues hit $6.4 million, up 32 per cent from $4.8 million for the same period in 2011. The company’s net income was $1.5 million, double the 2011 fourth-quarter figure of $766,000; while its earnings per share reached 7.4 cents, a 90 per cent increase from 3.9 cents.

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