| Business Summary | | Asta
Funding,
Inc.
is
a
diversified
consumer
finance
company
that
is
engaged
in
the
business
of
purchasing,
managing,
servicing
and
selling
distressed
consumer
receivables.
Distressed
consumer
receivables
are
the
unpaid
debts
of
individuals
that
are
owed
to
banks,
finance
companies
and
other
credit
providers.
Most
of
Company's
receivables
are
MasterCard
and
Visa
credit
card
accounts
that
were
charged-off
by
the
issuing
banks
for
non-payment.
In
March
2000,
the
Company
formed
Asta
Commercial,
LLC,
a
wholly
owned
subsidiary,
to
factor
commercial
invoices
for
growing
companies
with
unique
financing
needs. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | ASFI
is
a
consumer
finance
company
that
is
engaged
in
the
business
of
purchasing,
managing,
servicing
and
selling
distressed
consumer
receivables.
For
the
six
months
ended
3/31/01,
revenues
increased
21%
to
$10.3
million.
Net
income
increased
54%
to
$4
million.
Revenues
reflect
increased
interest
income
due
to
consumer
receivables
acquired
for
liquidation.
Net
income
also
reflects
a
decrease
in
interest
expense
due
to
a
decline
in
outstanding
borrowings. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
6,720;
after
tax
earnings
were
2,435. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Arthur Stern, 79 Chairman | $112K | -- | Gary Stern, 48 Pres,
CEO | 277K | -- | Mitchell Herman, 42 Sec.,
CFO | 233K | $18K | Dollar amounts are as of 30-Sep-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|