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Three and Six Month Renewable Unsecured Subordinated Notes One, Two, Three, Four, Five and Ten Year ... - page 24 / 40

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pense of $17.0 million, or $0.97 per diluted share, related to additions to the valuation allowance against our de- ferred tax asset.

Our pretax loss for the second quarter of 2011 was $6.4 million, compared to a pretax loss of $3.2 million in the second quarter of 2010. Our net loss for the second quarter of 2011 was $6.4 million, or $0.35 per diluted share, compared to a net loss of $6.8 million, or $0.39 per diluted share, for the year-earlier quarter. Net loss for the second quarter of 2010 includes a charge to income tax expense of $3.6 million, or $0.21 per diluted share, related to an addition to the valuation allowance against our deferred tax asset. Our pretax loss for the six months ended June 30, 2011 was $10.6 million, compared to a pretax loss of $11.1 million for the six months ended June 30, 2010. Our net loss for the six months ended June 30, 2011 was $10.6 million, or $0.58 per diluted share, com- pared to a net loss of $14.7 million, or $0.83 per diluted share, for the six months ended June 30, 2010. Net loss for the first six months of 2010 includes a charge to income tax expense of $3.6 million, or $0.20 per diluted share, related to an addition to the valuation allowance against our deferred tax asset.

FORWARD-LOOKING STATEMENTS

This prospectus contains certain statements of a forward-looking nature relating to future events or our future performance. These forward-looking statements are based on our current expectations, assumptions, esti- mates and projections about us and our industry. When used in this prospectus, the words “expects,” “believes,” “anticipates,” “estimates,” “intends” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements of our plans, strategies and prospects under the cap- tions “Prospectus Summary,” “Risk Factors,” “Use of Proceeds,” and other statements contained elsewhere in this prospectus. In particular, but without limitation, our statement that we expect to return to profitability within the calendar year 2011 is a forward-looking statement. That expectation is dependent on our ability to avoid or to mitigate the risks inherent in our business, which risks we have described above.

These forward-looking statements are only predictions and are subject to risks and uncertainties that could cause actual events or results to differ materially from those projected. The cautionary statements made in this prospectus should be read as being applicable to all related forward-looking statements wherever they appear in this prospectus. We assume no obligation to update these forward-looking statements publicly for any reason. Actual results could differ materially from those anticipated in these forward-looking statements.

The risk factors discussed above could cause our actual results to differ materially from those expressed in any forward-looking statements, including, without limitation, our statement that we expect to return to profita- bility within the calendar year 2011. Factors that we believe are especially important with respect to that particular statement are those discussed above under the captions “We Require a Substantial Amount of Cash to Service Our Substantial Debt,” “We Need Substantial Liquidity to Operate Our Business,” “Our Results of Operations Will Depend on Our Ability to Secure and Maintain Adequate Credit and Warehouse Financing on Favorable Terms,” “Our Results of Operations Will Depend on Our Ability to Securitize Our Portfolio of Automobile Contracts,” “If We Lose Servicing Rights on Our Portfolio of Automobile Contracts, Our Results of Operations Would Be Im- paired,” “If We Experience Unfavorable Litigation Results, Our Results of Operations May Be Impaired,” and “If The Economy of All or Certain Regions of the United States Continues to Slow Down or the Current Recession Worsens, Our Results of Operations May Be Impaired.”

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