Halifax Corporation (HX) Tops Q4 EPS by 3c

Halifax Corporation (NASDAQ: HX) reported Q4 EPS of $0.32, $0.03 better than the analyst estimate of $0.29.

Fourth Quarter of Fiscal Year 2018 Financial Highlights (Unaudited)

• Net revenue was US$27.6 million during the fourth quarter of fiscal year 2018, an increase of 270.7% from the fourth quarter of fiscal year 2017.
• Operating expenses were US$8.4 million during the fourth quarter of fiscal year 2018, an increase of 115.2% from the fourth quarter of fiscal year 2017.
• Net income was US$17.0 million during the fourth quarter of fiscal year 2018, an increase of 303.0% from the fourth quarter of fiscal year 2017.
• Basic EPS in the fourth quarter of fiscal year 2018 was US$0.36 compared to US$0.10 in fiscal year 2017.
• Diluted EPS in the fourth quarter of fiscal year 2018 was US$0.32 compared to US$0.10 in fiscal year 2017.
• Adjusted net income attributable to Hexindai Inc.\'s shareholders (Non-GAAP) in the fourth quarter of fiscal year 2018 was US$18.2 million, increased by 329.8% from US$4.2 million in the fourth quarter of fiscal year 2017.
• Adjusted EBIT (Non-GAAP) in the fourth quarter of fiscal year 2018 was US$20.4 million, increased by 472.8% from US$3.6 million in the fourth quarter of fiscal year 2017.

"We finished the year with another great quarter of growth in which loan volumes increased by 236.7%," commented Mr. Xinming Zhou, Chief Executive Officer of Hexindai. "Net revenue increased by 270.7% during the quarter to US$27.6 million compared to the same period of last fiscal year and net income expanded to US$17.0 million. Looking at the full year, the loan volumes increased by 151.2% to US$1.3 billion and net income increased by 664.3% to US$65.5 million. These solid results were driven by our strong user acquisition capabilities and improved user conversion rates."

"To further diversify our user acquisition channels, we opened a call center in Hefei, Anhui Province during the quarter which will facilitate first-time investments made by registered investors on our platform and increase retention rates among existing investors. Our recently launched microlending business, while risks being well managed, will complement our core business as an online consumer lending marketplace by generating additional revenue streams. We will continue to invest in enhancing our research and development capabilities, expanding our marketing efforts and strengthening our risk management systems to solidify our competitive advantage in China\'s rapidly growing consumer lending marketplace."

For earnings history and earnings-related data on Halifax Corporation (HX) click here.

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