Last $16.67 USD
Change Today +0.12 / 0.73%
Volume 98.6K
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As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

newtek business services cor (NEWT) Snapshot

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02/27/15 - $16.99
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08/4/14 - $11.30
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newtek business services cor (NEWT) Details

Newtek Business Services, Inc. provides financial and business services to the small-and medium-sized business market in the United States and internationally. The company operates in six segments: Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, All Other, Corporate, and Capcos. It offers electronic payment processing services, such as credit and debit card processing, check approval, and ancillary processing equipment and software to merchants. The company also provides Website, dedicated server, and cloud hosting services; Web design and development, Internet marketing, data storage and backup, and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design, Web hosting, and Web related services. In addition, it originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers accounts receivable financing and other lending products. Further, the company offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions; and sells personal, commercial, and health/benefits lines of insurance products. Additionally, it provides Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. The company also offers payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The company was founded in 1998 and is headquartered in New York, New York.

314 Employees
Last Reported Date: 11/3/14
Founded in 1998

newtek business services cor (NEWT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $491.7K
Principal Financial Officer, Chief Accounting...
Total Annual Compensation: $290.0K
Chief Information Officer and Executive Vice ...
Total Annual Compensation: $276.0K
Compensation as of Fiscal Year 2013.

newtek business services cor (NEWT) Key Developments

Newtek Business Services Announces Executive Changes

Newtek Business Services announced that Michael Schwartz has assumed the positions of chief legal officer and secretary. Schwartz's appointment took effect Jan. 1, 2015. Matthew Ash will remain chief compliance officer and executive vice president.

Newtek Business Services Corp. Provides Earnings Guidance for the Year 2014

Newtek Business Services Corp. provided earnings guidance for the year 2014. For the year, the company expects operating revenue of midpoint of $161.0 million, with a range of $154.0 million and $168.0 million, an increase of 12.1% over 2013 revenue of $143.6 million. The company expects adjusted pretax income midpoint of $13.5 million, with a range of $12.5 million and $14.5 million, an increase of 21.6% over 2013 GAAP pretax income $11.1 million. The company expects adjusted diluted EPS of midpoint of $1.15, with a range of $1.05 and $1.25 per share, an increase of 15.0% over 2013 GAAP diluted EPS of $1.00. The company expects adjusted EBITDA of midpoint of $26.0 million, with a range of $24.5 million and $27.5 million, an increase of 26.2% over 2013 Adjusted EBITDA of $20.6 million. The company expects interest expense between $8.8 million to $8.6 million and depreciation and amortization of $3.5 million.

Newtek Business Services Corp to Pay Annual Cash Dividend and First Quarter Dividend for 2015

Newtek Business Services Corp. announced that it currently expects to pay an annual cash dividend of approximately $1.80 per share for 2015, payable quarterly from anticipated taxable earnings, and is based on 10,206,323 shares of the company's common stock outstanding as of December 22, 2014. The company currently expects its dividend payable for the first quarter of 2015 will be $0.38 per share, which is expected to be declared on April 6, 2015 and payable on April 13, 2015 to shareholders of record on March 30, 2015.


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