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Article: Fremont General Reports a 130% Increase in Quarterly Net Income and Record Residential Real Estate Loan Origination Volume.
- Article from:
- PR Newswire
- Article date:
- April 29, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Fremont General Corporation (the "Company") reported net income of $41,576,000 for the first quarter of 2003. This represents an increase of 130%, as compared to net income of $18,057,000 for the first quarter of 2002. Diluted net income per share was $0.56 for the first quarter of 2003, as compared to $0.25 per share for the first quarter of 2002.
The Company's stockholders' equity per share was $5.87 at March 31, 2003. During the quarter ended March 31, 2003, the Company extinguished an additional $4.3 million par value of its senior notes outstanding. The Company has now extinguished a total of $166.9 million par value of its original $425 million par ...