FINANCIAL FED CORP
			Symbol			FIF

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Financial Federal Corporation Reports Fourth Quarter and Fiscal Year 2009 Results

2009-09-22 17:37 ET - News Release

NEW YORK -- (Business Wire)

Financial Federal Corporation (NYSE: FIF) today announced results for its fourth quarter and fiscal year ended July 31, 2009. Net income for the quarter decreased 27% to $8.9 million from $12.1 million in the fourth quarter of fiscal 2008. Diluted earnings per share decreased by 29% to $0.35 from $0.49. Finance receivables originated during the quarter were $60 million compared to $208 million in the fourth quarter of fiscal 2008.

Net income for fiscal 2009 decreased 14% to $43.1 million from $50.1 million in fiscal 2008. Diluted earnings per share also decreased 14% to $1.72 from $2.01. Finance receivables originated were $488 million in fiscal 2009 compared to $924 million in fiscal 2008. Finance receivables outstanding decreased 21% to $1.54 billion at July 31, 2009 from $1.94 billion at July 31, 2008.

Results for fiscal 2009 include a $1.0 million after-tax gain on retirement of debt. The Company purchased $42.3 million of its convertible debentures in the open market for $40.6 million. Without this after-tax gain, fiscal 2009 net income decreased 16% to $42.1 million and diluted earnings per share decreased 16% to $1.68. The amounts of net income and diluted earnings per share excluding this gain are non-GAAP financial measures and are presented because the Company believes they will be useful to investors by providing consistency and comparability with the prior period's operating results and a better understanding of the changes and trends in the Company's operating results.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.