CALGARY, ALBERTA -- (Marketwire) -- 11/09/10 -- Carfinco Income Fund - (TSX: CFN.UN)
Editors Note: There is a photo associated with this press release.
On October 25, 2010 The Howard Group hosted its 2nd "Opportunity Knocks" investor conference in Calgary. Tracy Graf, President & CEO of Carfinco Income Fund provided an overview of the company to an audience of investment advisors & private investors.
A recording of the presentation is now available online. Click here to view - http://www.howardgroupinc.com/conference2010.html
Highlights on Carfinco Income Fund are as follows:
-- A uniquely positioned, highly profitable auto finance income fund.
-- Q3 2010 best financial results in the Fund's history.
-- Net earnings for the quarter were $4.6 million, up 112.5% from the $2.2
million for the third quarter of 2009.
-- Earnings per fund unit for the quarter were 19 cents, or 76 cents on an
annualized basis.
-- Total cash distributions to unitholders for the quarter were 16 cents
per fund unit.
-- Loan originations were $25.8 million, a 43.5% increase from the third
quarter of 2009.
-- 31+ days delinquent accounts for the quarter were 3.0% a decrease of
33.3% from 4.5% at the end of the third quarter of 2009.
-- Focus on earnings growth.
About Carfinco Income Fund
Carfinco focuses on providing consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The units of the Fund trade on The Toronto Stock Exchange under the symbol "CFN.UN".
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Fund.
These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
To view the photo associated with this release, please visit the following link: http://www.marketwire.com/library/20101109-1109tracy_800.jpg
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Contacts:
Carfinco Income Fund
Tracy Graf
CEO & Trustee
Toll Free: 1-888-486-4356
tgraf@carfinco.com
www.carfinco.com
The Howard Group Inc.
Jeff Walker
(403) 221-0915 or Toll Free: 1-888-221-0915
(403) 237-8387 (FAX)
Info@howardgroupinc.com
www.howardgroupinc.com
