Transnational Financial Network Reports $0.11 First Quarter EPS
Transnational Financial Network Reports $0.11 First Quarter EPS
Transnational Financial Network, Inc. (AMEX: TFN), a wholesale and retail mortgage banking company, reported first fiscal quarter, ending July 31st, Net Income of $714,727, or $0.11 per share, a significant improvement compared to the $294,000, or $0.04 per share, loss reported in the like period a year earlier. Excluding the effect of accounting for derivative financial instruments as required by SFAS 133, which accounting has no effect on TFN's cash flows, earnings per share would have been $0.12 in this fiscal quarter as compared to a loss per share of $0.06 for the same fiscal quarter in the prior year.
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