CITYSCAPE FINANCIAL CORP. REPORTS THIRD QUARTER AND NINE-MONTH EARNINGS; MORTGAGE LOAN ORIGINATIONS.ELMSFORD, N.Y.--(BUSINESS WIRE)--October 12, 1995--Cityscape Financial Corp. (Nasdaq Bulletin Board: CTYS CTYS Chat to You Soon ), a consumer finance company engaged in the business of originating, purchasing, selling and servicing mortgage loans secured primarily by one-to-four family residences, today reported financial results for the third quarter and nine-month period ended September September: see month. 30, 1995. Net income for the third quarter was $3,786,431 or $0.34 per share, compared with $62,927 or $0.01 per share in the third quarter of 1994. Cityscape (company) CityScape - A re-seller of Internet connections to the PIPEX backbone. E-Mail: <sales@cityscape.co.uk>. Address: CityScape Internet Services, 59 Wycliffe Rd., Cambridge, CB1 3JE, England. Telephone: +44 (1223) 566 950. originated 1,845 mortgage loans totalling $123.2 million in the third quarter of 1995, representing an increase of 241% in number and 211% in dollars over third quarter 1994 loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . For the nine-month period ended September 30, 1995, net income was $7,213,459 compared with a net loss of $243,837 for the same period in 1994. Earnings per share through the first nine months of 1995 were $0.64 compared with a loss of $0.02 last year. The net earnings for the first nine months of 1994 reflect a one time charge of $680,000 related to the change in tax status from an "S" corporation to a "C" corporation. Excluding this one time charge, earnings increased $6,777,296 or 1554% in the first nine months of 1995. All per share figures have been adjusted to reflect a two for one stock split in the form of a 100 percent stock dividend that the company effected in September 1995. Earnings before income taxes increased by $6,326,821 to $6,411,748 in the three months ended September 30, 1995 from $84,927 in the three months ended September 30, 1994. Earnings before income taxes increased $11,422,298 to $12,123,461 in the nine months ended September 30, 1995 from $701,163 in the nine months ended September 30, 1994, an increase of 1629%. "During the third quarter, Cityscape continued to experience strong growth in loan origination and profitability," said Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. C. Patent, Executive Vice President of Cityscape. "In addition, there were several significant developments during the quarter, including the securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. and private placement of $100 million in mortgage loan pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size . Cityscape also continued its geographic expansion in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and acquired the 50 percent interest that it did not already own in City Mortgage Corporation Limited, a United Kingdom mortgage company." Cityscape Financial Corp. is a consumer finance company that, through its wholly owned consumer finance subsidiary, Cityscape Corp., is engaged in the business of originating, purchasing, selling and servicing mortgage loans secured primarily by one- to four-family residences. Cityscape Corp. was founded in 1985 and is headquartered in Elmsford, New York Elmsford is a village in Westchester County, New York, United States. The population was 4,676 at the 2000 census. As a village, it is located in the Town of Greenburgh. The village is named after a large elm tree that once grew in the community. . -0-
CITYSCAPE FINANCIAL CORP. (Nasdaq Bulletin Board:CTYS)
CONSOLIDATED STATEMENT OF EARNINGS
(Unaudited)
Three Months Ended Nine Months Ended
9/30/95 9/30/94 9/30/95 9/30/94
Total Revenues $16,204,609 $2,304,948 $30,842,804 $6,403,904 Total Expenditures 7,413,626 2,220,021 16,340,108 5,702,741 Earnings Before Income Taxes and Minority Interest 8,790,983 84,927 14,502,696 701,163 Minority Interest 2,379,235 - 2,379,235 - Earnings Before Income Taxes 6,411,748 84,927 12,123,461 701,163 Provision for Income Taxes 2,625,317 22,000 4,910,002 945,000 Net Income (Loss) $ 3,786,431 $ 62,927 $ 7,213,459 $ (243,837) Earnings (loss) per share of common stock(1) $ 0.34 $ 0.01 $ 0.64 $ (0.02) Weighted averages shares of common stock outstanding(1) 11,208,296 10,107,490 11,208,296 10,107,490
(1) All per share results give effect to a 2-for-1 stock split
effected September 29, 1995
CONTACT: Robert C. Patent Cityscape Financial Corp. (914) 592-6677 or Paul Paul, 1901–64, king of the Hellenes (1947–64), brother and successor of George II. He married (1938) Princess Frederika of Brunswick. During Paul's reign Greece followed a pro-Western policy, and the Cyprus question was temporarily resolved. Steidler, Jackie Jackie is a female or male name, originally a pet form of Jack/John or Jacqueline. Jackie! is an awesome girl who is in lvoe with andrew and tyler and has a bffl named Cassie! Fictional characters
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