Complete Financial Solutions Announces 2nd Quarter 2014 Financial Results
19 August 2014 - 9:00PM
Business Wire
Complete Financial Solutions Inc. (“CFSI” and OTC trading symbol
“CFSU”) announced results for its 2nd quarter 2014 which were
recently posted on the OTC Markets Disclosure and News Service.
Second Quarter 2014 Results (Compared
to 2013)
- Revenue for the three months increased
22.3% to $2,556,148 compared to $2,089,375
- Revenue for the six months increased
7.8% to $4,003,226 compared to $3,713,781
- Income from operations for the three
months decreased to $3,515 compared to $28,259
- Income from operations for the six
months increased to $20,514 compared to $3,170
“We rebounded from a slow first quarter with an increase in home
purchase activity in the second quarter, and our strong surge in
revenues appears to be continuing. Operating income is directly
impacted by the salaries and wages we pay our employees. Our
compensation programs for our employees are designed to reward the
high quality of service and programs that we offer our borrowers.
Overall our financial performance for the first six months of 2014
is stronger than 2013 and we expect this trend to continue for the
balance of the year,” stated Allen Ringer, CEO.
About CFSI
Complete Financial Solutions Inc. is an emerging financial
services company. Through its subsidiary companies, CFSI offers
mortgage origination and processing services in 25 states.
Acceptance Capital Mortgage Corporation (“ACMC”) is a HUD-approved
lender allowing ACMC to both bank and broker FHA loans. ACMC offers
a spectrum of mortgage products through a variety of correspondent
and broker relationships. Insurance Solutions Inc. offers
protection products to mortgage customers of ACMC and to the
general public. For more information, visit our website at
www.cfsi.biz.
This press release may contain forward-looking statements that
involve risks and uncertainties concerning our expected performance
and comments within the safe harbor provisions established under
The Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from the results predicted and
reported results should not be considered as an indication of our
future performance. We believe that these potential risks and
uncertainties include, without limitation: uncertainty regarding
our future revenue growth, operating results and profitability; our
business being dependent on the health of the mortgage industry;
government regulation; and the effect of industry restructuring,
higher interest rates or adverse economic conditions. Statements in
this release should be evaluated in light of these factors. We have
included a detailed discussion of certain risks and uncertainties
that could cause actual results and events to differ materially
from our forward-looking statements in the section titled “Risk
Factors,” filed with our Annual Report, posted with the OTC
Disclosure and News Service on May 28, 2014, which is available at
www.otcmarkets.com. CFSI undertakes no duty to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Complete Financial Solutions Inc.Allen Ringer,
509-462-9236CEOaringer@cfsi.bizorInvestor RelationsRich Inza,
954-251-0616rinza@cfsi.biz
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