SPOKANE, Wash.--(BUSINESS WIRE)--Complete Financial Solutions Inc. (“CFSI”) (OTC: CFSU), announced results for its 3rd quarter 2015 which were posted on the OTC Markets Disclosure and News Service.
Third Quarter 2015 Results (Compared to 2014)
- Revenue for the three months increased 16% to $3,658,526 compared to $3,139,499
- Revenue for the nine months increased 44% to $10,271,882 compared to $7,142,725
- Income from operations for the three months was $82,599 compared to $149,016
- Income from operations for the nine months increased to $261,663 compared to $94,882
Allen Ringer, CEO of Complete Financial Solutions Inc., commented, “Third quarter production volume was up 21% to $66.2 million as a result of a continuing strong home purchase market and the ongoing integration of loan production offices we added in 2014. Annual production volume is 41% ahead of 2014 at $187 million for the year, due in part to an $11,000 increase in our average loan size, and an increased number of closed loans.”
Complete Financial Solutions Inc. is an emerging financial services company. Through its subsidiary companies, CFSI offers mortgage origination and processing services in 25 states. Acceptance Capital Mortgage Corporation (“ACMC”) is a HUD-approved lender allowing ACMC to both bank and broker FHA loans. ACMC offers a spectrum of mortgage products through a variety of correspondent and broker relationships. For more information, visit our website at www.cfsi.biz.
This press release may contain forward-looking statements involving risks and uncertainties concerning expected performance and comments within safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. We believe that potential risks and uncertainties include, without limitation: uncertainty regarding future revenue growth, operating results and profitability; our business being dependent on the health of the mortgage industry; government regulation; and the effect of industry restructuring, higher interest rates or adverse economic conditions. Statements in this release should be evaluated in light of these factors.