Middletown 9/13/2013 5:54:58 AM
News / Stocks

Get a Free Stock Report on Receivable Acquisition and Management Corp. (RCVA) At VIPStockReports.com

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On September 4th, the Company announced their financial results for the quarter ended June 30, 2013. CEO of CSE, Tom Telegades, said results show “promise for the new direction the Company has embarked upon.”

In the second quarter of 2013, revenue increased 67.6% year-over-year. The growth in revenue is attributed to growth in business as CSE acquired Columbia University as a client in late 2012. Net income also decreased from 26.2% of revenue to 3.8% of revenue. However, this includes growth in expenses due to its advisory, oversight, and management activities as the Company adjusted to its increased business. Finally, total assets was reported to increase by 68.1% over total assets of $416.2 by the end of Q2.

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