Diluted earnings per share increased by 9% to $0.50 from $0.46. Finance receivables originated during the quarter were $259 million compared to $320 million in the same quarter of fiscal 2007. Net interest margin increased to 5.15% in the first quarter from 5.11% in the prior year period.
Paul Sinsheimer, CEO of Financial Federal, said: Our near term outlook is cautious as the economy appears to be slowing and the capital markets continue to be volatile. Notwithstanding these conditions, the company’s first quarter was outstanding with 9% earnings per share growth and strong asset quality. Our proven business model has produced consistent superior results in various economic environments and I expect this to continue.
