Key Developments: Newtek Business Services Inc (NEWT.OQ)
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Latest Key Developments (Source: Significant Developments)
Newtek Business Services Inc Reaffirms FY 2013 Guidance
Newtek Business Services Inc announced that for fiscal 2013, it expects diluted EPS midpoint at $0.18 per share, with a range of $0.17 and $0.19, revenue midpoint is forecast at $148.2 million, with a range of $145.1 million and $151.2 million, pretax income midpoint at $11.5 million, with a range of $10.0 million and $13.0 million and modified EBITDA midpoint at $20.9 million, with a range of $19.3 million and $22.4 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.17, Pre-tax profit of $12.6 million and EBITDA of $21.3 million for fiscal 2013. Full Article
Newtek Business Services Inc Raises FY 2013 Guidance
Newtek Business Services Inc announced that for fiscal 2013, it expects diluted EPS with a range of $0.17 and $0.19, revenue with a range of $145.1 million and $151.2 million, pretax income with a range of $10.0 million and $13.0 million and Modified EBITDA with a range of $19.3 million and $22.4 million. Full Article
Newtek Business Services Inc Reaffirmed FY 2013 Earnings Guidance
Newtek Business Services Inc reaffirmed its fiscal 2013 guidance and expects pretax income of $9.0-$9.5 million and EPS – diluted earnings per share of $0.14 - $0.15. Full Article
Newtek Business Services Inc Raises FY 2012 Earnings Guidance; Issues FY 2013 Guidance
Newtek Business Services Inc announced that fiscal 2012 consolidated guidance has been adjusted upwards based on improvements primarily in the small business finance segment. The Company now expects a pretax income midpoint of $8.75 million, versus $7.5 million, and a midpoint Modified EBITDA of $16.0 million, up from $15.3 million. The Company's EPS range is forecast at between $0.12 and $0.15 per diluted share with a midpoint of $0.13 per diluted share, up from previous guidance of $0.12 per diluted share. The revenue range for the year remains unchanged at a midpoint of $130.7 million. Consolidated fiscal 2013 guidance for EPS is forecasted to be between $0.13 and $0.20 per diluted share, midpoint at $0.17 per diluted share; revenues between $142.5 million and $151.5 million, midpoint at $147.0 million; pretax income between $9.2 million and $13.8 million, midpoint at $11.5 million; and Modified EBITDA between $19.1 million and $23.7 million, with a midpoint at $21.4 million. Full Article
Newtek Business Services Inc Receives Patent For NewTracker Referral Processing And Tracking System
Newtek Business Services Inc announced that it had received Patent No. 8,271,326 on its NewTracker Referral Processing and Tracking System, its internally developed, customer referral, tracking and processing software. NewTracker is a cloud computing based, SAAS Platform which integrates the secure receipt, processing, tracking and reporting of business referrals and leads. A substantial portion of Newtek's business comes from referrals from other organizations and businesses, our alliance partners. Those referrals and all business done by Newtek are routinely input and processed on the NewTracker system. Full Article
Newtek Business Services, Inc. Reaffirms FY 2012 EPS Guidance; Broadens FY 2012 EBITDA Guidance
Newtek Business Services, Inc. announced that for fiscal 2012, it is reaffirming its guidance for earnings per share (EPS) of between $0.10-$0.14 per diluted share, pretax income between $6.5 million and $8.5 million, and Modified EBITDA between $14.3 million and $16.3 million. Full Article
Newtek Business Services, Inc. Issues FY 2012 Revenue Guidance; Raises FY 2012 Earnings Guidance
Newtek Business Services, Inc. revised fiscal 2012 guidance and now expects 2012 consolidated revenues of between $129.1 million and $132.2 million and pretax income of between $6.5 million and $8.5 million. Midpoint Modified EBITDA is forecast at $15.3 million. Full Article
Newtek Business Services, Inc. Signs Agreement With Summit Partners For $10-$15 Million In Mezzanine Loan
Newtek Business Services, Inc. announced that it has signed an agreement and simultaneously received $10 million in mezzanine debt from a group of lenders led by Summit Partners, a growth equity firm that makes equity and credit investments in rapidly growing companies across North America, Europe, and Asia. Based on conditions that Newtek expects will occur, the Company will be able to draw an additional $5 million within six months from the initial closing date. The financing will be used to support Newtek's continued growth and provide working capital necessary to expand its product offerings. Full Article
Newtek Business Services, Inc. Raises FY 2012 Guidance
Newtek Business Services, Inc. revised fiscal 2012 guidance to reflect midpoint consolidated pretax income of $6.0 million and is revising its bands for pretax income of between $5.0 million and $7.0 million, from its original pretax income range of $3.0 million to $6.0 million. The Company forecasts fiscal 2012 midpoint consolidated modified EBITDA of $12.0 million from its previous guidance of $11.0 million, and consolidated midpoint revenues of between $130.0 million and $133.0 million, with a midpoint of $131.0 million. Full Article
Newtek Business Services, Inc.'s Newtek Insurance Agency, LLC Secures Contract
Newtek Business Services, Inc. announced that its Newtek Insurance Agency, LLC, has been selected to be the exclusive endorsed provider for health and benefit insurance products to credit union small business members through CUNA Strategic Services (CSS). The products include group health, group life, group accidental death and dismemberment (AD&D), group short-term disability (STD), group long-term disability (LTD), group dental, group vision, as well as individual and family health. Newtek Insurance Agency LLC, which is licensed in all 50 states, works with more than 40 highly rated carriers to provide the cost-effective health and benefits, as well as other business, insurance products. Full Article

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