First Investors Financial Services Group Inc. reported unaudited consolidated earnings results for the first quarter ended July 31, 2009. For the period, the company reported net income of $522,649, or $0.11 per share as compared to $1,057,985, or $0.24 per share, for the three months ended July 31, 2008. The decrease in net income is primarily attributable to a decrease in interest income as a result of a decline in the average portfolio outstanding, an increase in provision expense and higher operating expenses which were partially offset by a decrease in interest expense and an increase in servicing revenue for the three months ended July 31, 2009 as compared to July 31, 2008. Income before provision for income taxes was $846,000 against $1,688,000 for the same period a year ago. Net interest income decreased 5% compared to the three months ended July 31, 2008. The decrease was due to the decrease in the average portfolio of receivables held for investment which was partially offset by an increase in the effective yield and a lower cost of funds. Revenue from servicing activities increased 610% as the average portfolio serviced for others increased from $86.7 million to $291.8 million as a result of the previously announced addition of three third-party servicing portfolios during the third and fourth fiscal quarters of the fiscal year ended April 30, 2009.

First Investors Financial Services Group Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended April 30, 2009. For the quarter, the company reported net earnings of $594,000 or $0.13 per diluted share on interest income of $13,998,000 compared to net earnings of $1,134,000 or $0.24 per diluted share on interest income of $15,792,000 for the same period a year ago. The company reported income before provision for income taxes of $884,000 and net income after provision for credit losses of $4,379,000 compared to income before provision for income taxes of $1,682,000 and net income after provision for credit losses of $6,382,000 for the same period a year ago. For the year, the company reported net earnings of $1,943,000 or $0.40 per diluted share on interest income of $61,727,000 compared to net earnings of $2,533,000 or $0.54 per diluted share on interest income of $60,047,000 for the same period a year ago. The company reported income before provision for income taxes of $3,033,000 and net income after provision for credit losses of $19,091,000 compared to income before provision for income taxes of $3,391,000 and net income after provision for credit losses of $19,237,000 for the same period a year ago. Adjusting for certain non-recurring items, pro-forma net income was $2,096,511 or $0.46 per basic share, compared to net earnings for the twelve months ended April 30, 2008 of $2,051,134 or $0.46 per basic share. Net earnings for the twelve months ended April 30, 2009, were negatively impacted by non-cash, after tax charge of $153,513 associated with the restructuring of the company's warehouse credit facilities and the retirement of a $5 million senior subordinated note in December 2008. Net earnings for the twelve months ended April 30, 2008, were positively affected by a $482,050 reduction in expenses related the reversal of an uncertain tax position attributable to prior years' tax returns and the associated interest and penalties. The company benefited from higher net interest income and higher servicing revenue which was offset by a higher provision for loan losses and an increase in total operating expenses related to growth in the company's managed loan portfolio. Net interest income increased 27.7% during the twelve months ended April 30, 2009, due to a 24 basis point increase in effective yield and a 160 basis point decrease in the cost of debt, and a slight increase in the average portfolio outstanding.

First Investors Financial Services Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended January 31, 2009. For the quarter, the company reported net earnings of $115,000 and income before provision for income taxes of $149,000 or diluted net earnings per common share of $0.03 on interest income of $15,640,000 compared to net earnings of $899,000 and income before provision for income taxes of $922,000 or diluted net earnings per common share of $0.19 on interest income of $15,559,000 for the same period a year ago. Net interest income of $11,164,000 compared to net interest income of $8,769,000 for the same period a year ago. Basic net earnings per common share of $0.03 compared to basic net earnings per common share of $0.20 for the same period a year ago. Adjusting for non-recurring items, net income was $472,908 or $0.11 per basic share. Net interest income increased 27.3%, due to a 0.31% increase in effective yield and a 1.81% decrease in the cost of debt, which offset a 1.9% decline in the average portfolio outstanding. For the nine months, the company reported net earnings of $1,349,000 and income before provision for income taxes of $2,149,000 or diluted net earnings per common share of $0.28 on interest income of $47,729,000 compared to net earnings of $1,399,000 and income before provision for income taxes of $1,710,000 or diluted net earnings per common share of $0.29 on interest income of $44,255,000 for the same period a year ago. Net interest income of $32,888,000 compared to net interest income of $23,921,000 for the same period a year ago. Basic net earnings per common share of $0.30 compared to basic net earnings per common share of $0.31 for the same period a year ago. Adjusting for non-recurring items, net income was $972,780 or $0.22 per basic share. Net interest income, increased 37.5% as the average receivables outstanding increased 5.2%, the effective yield increased by 0.32% and the cost of debt declined by 1.74%.