Asta Funding Inc. (ASFI) reported fourth-quarter net income $1.55 million or $0.12 per share, compared to net income of $1.66 million or $0.11 per share, for the same period in fiscal year 2011.
The results of the fourth quarter of fiscal year 2011 included a one-time charge against revenues of $1.3 million for invoicing of previously unbilled collection costs from a third party servicer. The Company invested $6.4 million in personal injury claims during the fourth quarter of fiscal year 2012.
Total revenues were $11.02 million in the fourth quarter of fiscal year 2012, an increase of 12.5% over the reported revenue of $9.80 million in fourth quarter of fiscal year 2011.
The company announced that its board has approved the payment of the 2013 annual dividend totaling $0.08 per share, payable to shareholders of record on December 24, 2012 and payable on December 31, 2012.
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