Nicholas Financial Q4 net loss narrows to $1.3M; acquires 51% of Amplex Electric for $11.6M

OLD MARKET CAPITAL Corp

2024-Q1 EPS reported -$0.49 revenue$489,000

Net loss of $1.3M ($0.19 dil EPS) for quarter ended Mar 31, 2024 vs $15.8M ($2.18) a year ago.
Full-year net loss $20.8M ($2.86 dil EPS) vs $34.1M ($4.65) in fiscal 2023.
Acquired 51% of Amplex Electric for $11.56M cash on June 15, 2024; paid additional $3M for extra shares.
Loan portfolio sale to Westlake Financial in progress; recorded $17.3M valuation allowance on finance receivables held for sale.
Interest and fee income fell 55.5% to $3.9M for Q4; loan originations discontinued.

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