For the full-year period of 2007, net loss was $14.2 million, compared to net profit of $3.4 million for fiscal 2006. On a per share basis, net loss was $1.51 per basic and diluted per share for fiscal 2007, compared to earnings of $0.38 per basic and $0.37 per diluted share for the full-year period of 2006.
Dennis Ward, CEO and president, said: 2007 has been extremely difficult and disappointing for financial institutions including Federal Trust. Our losses were primarily driven by weakness in the Florida real estate market.
