26 Feb 2013
General Finance & Development, Inc. (GFDV) announced today year-end results for 2012.
The highlights are summarized below. However, we urge investors to read our 2012 Annual Report posted at www.genfd.com and www.otcmarkets.com. The limited information that follows in this press release is not adequate for making an informed investment judgement.
The annual shareholder meeting has been scheduled for April 25th, 2013.
- The Company realized a net income of $351,684 for the year-end December 31, 2012, as compared to a net income of $21,873 for the year-end 2011.
- The Company generated $2,258,466 in revenue for the year ended December 31, 2012 as compared to $1,760,579 in revenue for the year ended December 31, 2011.
- General and administrative expenses for the year-end December 31, 2012 were $551,827 as compared to $535,063 for the year-end 2011.
- Total assets for the Company were $1,264,301 for 2012 year-end compared to $904,415 for 2011 year-end.
- The Company had liabilities of $101,050 at 2012 year-end compared to $92,848 in liabilities at 2011 year-end.
- Current liabilities were $99,289 at year-end 2012 compared to liabilities of $80,954 2011 year-end. Current assets exceeded current liabilities by a multiple of 9 at 2012 year-end.
- Long term debt excluding current maturities was $1,761.
- Company book value increased by $.08 per share in 2012 over 2011.