More than 2,500 companies in the small cap and micro-cap world have been touched by one company – vFinance Inc. (VFIN:OB), a Florida-based financial company that provides one-stop shopping for investment banking, trading, trend forecasting and consulting services.Through its subsidiary, vFinance Investments Inc., the company has served as market maker in over 2,500 stocks in the small cap and micro-cap markets, and has gained a reputation as being the place to go if you’re helming a company that is seeking capital.
The company’s Sterling Fixed Income Division offers yield forecasting, and the company also has trained consultants in 30 U.S. cities and in Latin America. At its trading desk, the company offers ADR liquidity pools and market liquidation strategies. vFinance’s Equity Station offers clients electronic direct market access.
The company released its first quarter results this week, showing an increase in revenues for the quarter ending March 31. Revenue for the quarter rose to just over $12 million, as compared to the $9 million garnered in the same period the year before. Net income for the first quarter 2007 was $37,800, compared to $411,600 in 2006. Net income included several expenses, including depreciation, amortization of intangibles and stock-based compensation.
Adjusted earnings before interest, taxes, depreciation and amortization were $472,900 for the first quarter of 2007, compared to $631,600 for the same time frame last year. vFinance liquid assets by the end of the first quarter were $7,432,400, made up of cash and cash equivalents of $5.2 million and marketable securities of $2.1 million. The company has no long-term debt.
“vFinance’s performance during the first quarter of 2007 shows that we are implementing the right action plan to achieve our goals,” CEO Leonard Sokolow said in a press release. “We have steadily increased our top line by investing in infrastructure, acquisitions and our investment banking, retail and trading businesses. With over 40 offices in the U.S. and other parts of the world and more than 12,000 corporate, institutional and high net worth clients, and our making markets in more than 3,000 stocks, we are poised to seize further growth opportunities.”
“Strong revenues, a strong balance sheet and profitability give us the resources to further expand and invest,” CFO Alan Levin said. “Through expense reduction and increased productivity, we will improve cash generation and increase profitability, enabling us to continue to execute our growth strategy.”
Shares of vFinance were trading at 24 cents at market open Thursday.
