Velocity Reports 24% Rise in Net Income

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Velocity Reports 24% Rise in Net Income
Debt buyer and legal collection firm Velocity Asset Management (AMEX: JVI) reported Friday first quarter net income of $656,716, an increase of 24 percent from $529,808 in the first quarter of 2007. Revenues were $3.8 million in the first quarter of 2008, up nearly 25 percent from $3.0 million in the same period a year ago. Wall, N.J.-based Velocity earned 2 cents a basic and diluted share, compa
 
Topic: Collections Industry