J.G. Wentworth (JGW) saw its loss narrow to $1.26 million, or $0.08 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $54.97 million, or $3.56 a share. Revenue during the quarter grew 26.40 percent to $106.57 million from $84.32 million in the previous year period. Operating margin for the quarter period stood at positive 75.74 percent as compared to a negative 47.25 percent for the previous year period.
"We continued to make progress against our key priorities. The results for the quarter and full year reflect our efforts throughout the year to turnaround Structured Settlements, grow Home Lending, expand Payment Solutions and further enhance and diversify our funding platform," said Stewart A. Stockdale, chief executive officer, The J.G. Wentworth Company.
Debt moves up marginally
J.G. Wentworth has witnessed an increase in total debt over the last one year. It stood at $4,795.28 million as on Dec. 31, 2016, up 1.69 percent or $79.71 million from $4,715.57 million on Dec. 31, 2015. Total debt was 96.04 percent of total assets as on Dec. 31, 2016, compared with 92.92 percent on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
