| | Business Summary | | Equivest
Finance,
Inc.
is
an
integrated
timeshare
vacation
services
company
that
markets
and
sells
vacation
services
and
vacation
ownership
interests
(VOIs)
to
consumers
in
a
network
of
resort
projects
located
primarily
on
the
eastern
seaboard
of
the
United
States
and
in
the
United
States
Virgin
Islands.
Equivest
also
operates
a
specialty
finance
company
that
principally
finances
receivables
relating
to
consumer
purchases
of
VOIs
and
third-party
timeshare
resorts,
as
well
as
the
Company's
resorts.
In
addition
to
enhancing
sales
revenues,
the
financing
of
customer
receivables
generates
income
from
the
spread
between
interest
rates
charged
by
the
Company
on
its
loan
receivables
and
its
cost
of
capital.
More
than
80,000
families
own
vacation
interests
in
one
or
more
of
the
Company's
own
resorts.
Approximately
25,000
additional
families
are
borrowers
from
the
Company
in
connection
with
their
purchases
of
VOIs
in
unaffiliated
resorts. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Equivest
finances
timeshare
projects
throughout
the
United
States
and
in
selected
foreign
markets,
and
is
a
developer
and
operator
of
timeshare
resorts
located
in
New
England.
For
the
six
months
ended
6/30/01,
total
revenues
fell
22%
to
$59.7
million.
Net
income
applicable
to
Common
rose
15%
to
$5.5
million.
Results
reflect
reduced
timeshare
revenue
due
to
the
closure
of
certain
sales
and
telemarketing
centers,
offset
by
lower
sales
and
marketing
expenses. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Richard Breeden, 51
Chairman,
Pres, CEO | -- | Gerald Klaben, Jr., 37
CFO,
Sr. VP, Treasurer | $229K | R. Perry Harris, 61
Exec.
VP; Pres and CEO of Eastern Resorts Comp | 352K | Richard Winkler, 44
Sr.
VP, Sec., Gen. Counsel | 226K | James Petrie, 37
Controller | -- | | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/e/equi.gif)