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Safe Harbor Financial's 245% YoY Q1 Net Income Boost, Anticipates Capital Increase With Possible Rescheduling
Safe Harbor Financial Services, Inc. (NASDAQ: SHFS) reported a 245% year-over-year increase in net income to approximately $2.0 million for the first quarter of 2024. This is a significant change from a net loss of $1.4 million in the same period last year.
CEO Sundie Seefried noted the company’s strategic initiatives and diversified income base, particularly through its lending program. "We have nearly tripled our loan book year-over-year, driving a 251% increase in our loan income to $1.64 million," Seefried stated.
Revenue And Gross Profit
The company’s revenue for the quarter ...