Newtek: 1Q Earnings Snapshot

Newtek: 1Q Earnings Snapshot

Associated Press
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LAKE SUCCESS, N.Y. (AP) _ Newtek Business Services Inc. (NEWT) on Wednesday reported first-quarter profit of $9.1 million.

On a per-share basis, the Lake Success, New York-based company said it had net income of 48 cents. Earnings, adjusted for investment gains, came to 44 cents per share.

The provider of financial and business services to small-and medium-sized business posted revenue of $13.8 million in the period.

Newtek shares have increased 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.40, a rise of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEWT at https://www.zacks.com/ap/NEWT

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