Halo Companies, Inc. Announces Profitable Fourth Quarter Results
12 Abril 2012 - 8:00AM
Marketwired
Halo Companies, Inc. (OTCQB: HALN) (PINKSHEETS: HALN) announced
profitable fourth quarter results with revenue of $3.2 million and
a net income of $461,000 for the quarter ended December 31, 2011.
"The revenue and profitability generated in the fourth quarter
signify a major turning point for Halo," states Cade Thompson,
Chief Executive Officer of Halo Companies, Inc. "The past two years
have been a period of transition as we shifted our core business
from a consumer financial services company to a distressed asset
services company. A large part of the fourth quarter success is due
to growth in the distressed asset verticals, primarily asset
management and portfolio advisory services, indicating the
completion of that transition."
Highlights for the fourth quarter 2011:
Financial Results excerpted from annual audit and three
quarterly reviews
---------------------------------------------------------------
Last 12 Months by Quarter
---------------------------------------------------------------
Three Months Ended
---------------------------------------------------------------
Dec 31, 2011 Sept 30, 2011 June 30, 2011 March 31, 2011
----------------------------------------------------------------------------
Revenue $3,162,666 $1,453,009 $809,737 $854,902
----------------------------------------------------------------------------
Net Income
(Loss) $460,837 ($559,550) ($1,277,981) ($1,126,334)
----------------------------------------------------------------------------
- Revenue increased 188% to $3.2 million over same quarter
previous year
- Net income increased 143% to $461,000 over same quarter
previous year
About Halo Companies, Inc.
Halo Companies, Inc. (OTCQB: HALN) (PINKSHEETS: HALN) is a
publicly-traded, nationwide distressed asset services company,
providing technology-driven asset management, portfolio analytics,
acquisition, repositioning and liquidation strategies for the
private investment and mortgage servicing industry. Founded in
2004, Halo established its roots in the mortgage origination
sector, quickly growing to an award-wining consumer financial
services company. Halo's years of experience, key leadership and
industry knowledge laid the foundation for its emergence as a
premier distressed asset services company. For more information
about Halo Companies, Inc., visit www.haloco.com.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains
forward-looking statements that are subject to risks and
uncertainties, and actual results might differ materially. A
discussion of factors that may affect future results is contained
in Halo Companies' filings with the Securities and Exchange
Commission. Halo Companies, Inc. disclaims any obligation to update
and revise statements contained in this news release based on new
information or otherwise.
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