E-Loan Beats Forecasts but Sales Trends Spur Concern
Roth, Andrew, American Banker
The online lender E-Loan Inc. has beaten analysts' earnings estimates for the seventh straight quarter, but revenue was disappointing and analysts expressed concern about its future sources of income.
The Dublin, Calif., company said Thursday that it lost $2.2 million, or 4 cents per share, excluding certain charges, in the second quarter -- 3 cents less than the First Call consensus estimate. It had lost $9.7 million, or 22 cents per share, a year earlier.
Revenue for the latest quarter was $15.2 million, up 79% but less than the $16 million expected. The company said again that it would break even in the fourth quarter.
Improved operating efficiency and …
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Publication information: Article title: E-Loan Beats Forecasts but Sales Trends Spur Concern. Contributors: Roth, Andrew - Author. Magazine title: American Banker. Volume: 166. Issue: 145 Publication date: July 30, 2001. Page number: 17. © 2009 SourceMedia, Inc. COPYRIGHT 2001 Gale Group.
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