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Novation Companies, Inc. Message Board

  • rooky_is_lucky rooky_is_lucky Mar 2, 2013 1:27 PM Flag

    Liquidity comparisons Year over Year 2011/2012

    Last I heard, Liquidity is pretty important to a businesses survival.
    Here are Novations Liquidity and Capital Resource statements form Novations 2011 and 2012 10K's for a comparison;
    "As of December 31, 2011 , we had approximately $11.5 million in unrestricted cash and cash equivalents.

    Service fee income was a substantial source of our cash flows during the year ended December 31, 2011 . We have had significant growth during 2011 and are currently projecting an increase in service fee income over the course of the next year as we continue to increase our customer base, although we cannot assure the same rate of growth that we have experienced . We anticipate that continued increases in appraisal volume will continue to drive positive earnings and cash flow from operations as compared to prior periods, although we also anticipate a decrease in overall housing market transactions similar to most years during the winter months."
    compared to;

    "As of December 31, 2012 , we had approximately $16.4 million in unrestricted cash and cash equivalents and $2.2 million of restricted cash, $1.1 million of which is included in the other assets line item. The bank that provides financial settlement services for Advent requires cash collateral in an account and its release is subject to contractual requirements. During the first and second quarters of 2012, the balance in this account increased from December 31, 2011 due to the high volume of transactions that Advent processed, however, approximately $4.7 million was released from restriction during the third quarter of 2012.
    Service fee income was a substantial source of our cash flows during 2012 . We have had significant growth during 2012 as compared to the same period in 2011 , and are currently projecting an increase in service fee income over the course of the next year as we continue to increase our customer base."

    Sentiment: Strong Buy

 
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