The First Marblehead Corporation (FMD) Revenue Rises 55 Percent
The First Marblehead Corporation (NYSE:FMD - News) today announced its financial and operating results for the fourth quarter of fiscal 2007 and for the fiscal year ended June 30, 2007.
Total revenues for the fiscal year ended June 30, 2007 were $881 million, up 55% from $569 million for the same period last year. Net income increased 57% for the fiscal year to $371 million, or $3.92 per diluted share.
"Fiscal 2007 was the strongest year in First Marblehead's history. Our focus on adding value to our clients has resulted in exceptional revenue, earnings, and EPS growth," said Jack L. Kopnisky, First Marblehead's President and Chief Executive Officer. "We processed a record 1.4 million loan applications resulting in $4.3 billion in student loans facilitated. Our business continues to grow as we remain focused on developing financial solutions to help students achieve their dreams."
For the fourth quarter of fiscal 2007, total revenues were $200 million, up 33% from $150 million for the same period last year. Operating income for the fourth quarter was $132 million, an increase of 31% over the same period last year. For the fourth quarter, net income was $78 million or $0.83 per diluted share.
Total revenues for the fiscal year ended June 30, 2007 were $881 million, up 55% from $569 million for the same period last year. Net income increased 57% for the fiscal year to $371 million, or $3.92 per diluted share.
"Fiscal 2007 was the strongest year in First Marblehead's history. Our focus on adding value to our clients has resulted in exceptional revenue, earnings, and EPS growth," said Jack L. Kopnisky, First Marblehead's President and Chief Executive Officer. "We processed a record 1.4 million loan applications resulting in $4.3 billion in student loans facilitated. Our business continues to grow as we remain focused on developing financial solutions to help students achieve their dreams."
For the fourth quarter of fiscal 2007, total revenues were $200 million, up 33% from $150 million for the same period last year. Operating income for the fourth quarter was $132 million, an increase of 31% over the same period last year. For the fourth quarter, net income was $78 million or $0.83 per diluted share.
Labels: FMD, The First Marblehead Corporation
posted by Stock Administrator @ 4:09 PM
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