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Newtek: Q1 Earnings Snapshot

·1 min read

BOCA RATON, Fla. (AP) _ Newtek Business Services Inc. (NEWT) on Tuesday reported first-quarter net income of $30.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Boca Raton, Florida-based company said it had net income of $1.35. Earnings, adjusted for one-time gains and costs, were $1.05 per share.

The provider of financial and business services to small-and medium-sized business posted revenue of $34.7 million in the period.

Newtek shares have risen 39% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.39, a climb of 83% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEWT at https://www.zacks.com/ap/NEWT

The Associated Press

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