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[8/5/2022 | 8/5/2022 (part 2) | 8/5/2022 (part 3) | 8/5/2022 (part 4) | 8/5/2022 (part 5) | 8/5/2022 (part 6) | 8/5/2022 (part 7) | 8/5/2022 (part 8) | 8/5/2022 (part 9) | 8/5/2022 (part 10)]
Contact: Steven Kessler
Chief Financial Officer
Resource America, Inc.
1521 Locust Street-5th Floor
Philadelphia, PA 19102
215-546-5005, 215-546-5388 fax
RESOURCE AMERICA, INC. REPORTS RECORD EARNINGS FOR QUARTER AND NINE MONTHS ENDED JUNE 30, 2022
Philadelphia, PA, 8/5/2022 - Resource America, Inc. (NASDAQ:REXI) (the "Company") reported net income of $8.4 million and $18.6 million for the third fiscal quarter and nine months ended JUNE 30, 2022 as compared to $2.9 million and $7.8 million for the third fiscal quarter and nine months ended June 30, 1997, an increase of $5.4 million (186%) for the quarter and $10.9 million (140%) for the nine months. The Company effected a three-for-one- stock split in the form of a 200% stock dividend in June, 1998, and all information contained herein reflects the stock split. Earnings per share (diluted) were $O.45 for the quarter ended JUNE 30, 2022 as compared to $O.21 for the quarter ended June 30, 1997, an increase of 114%. Earnings per share for the quarter ended JUNE 30, 2022 reflect the issuance of 5.9 million shares
in a secondary offering in April 1998, which increased the weighted average common shares on a filly diluted basis by 26%.
The Board of Directors authorized the payment of a quarterly cash dividend on 8/28/1998 in the amount of three and one-third cents per share on the
Company's common stock to all holders of record at the close of business on August 14, 1998. The Company has approximately 20.2 million shares of common stock outstanding.
Third fiscal quarter and nine months ended June 30, results at a
glance (in thousands of dollars except per share data)
| Three Months Ended June 30 | Nine Months Ended June 30 |
| 1998 | 1997 | 1998 | 1997 |
| Revenues | $25,122 | $7,827 | $61,504 | $20,546 |
| Costs and Expenses | 13,013 | 3,754 | 34,478 | 10,374 |
| Income Before Income Taxes | 12,117 | 4,074 | 27,037 | 10,244 |
| Provision for Income Taxes | 3,750 | 1,144 | 8,400 | 2,494 |
| Net Income | 8,367 | 2,930 | 18,637 | 7,750 |
| Net Income per Common Share-Diluted | $0.45 | $0.21 | $1.16 | $0.61 |
| Weighted average common shares | 18,794 | 13,907 | 16,087 | 12,710 |
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