Solution Financial Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended July 31, 2023
September 13, 2023 at 02:56 pm EDT
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Solution Financial Inc. reported earnings results for the third quarter and nine months ended July 31, 2023. For the third quarter, the company reported sales was CAD 3.07 million compared to CAD 3.25 million a year ago. Revenue was CAD 3.08 million compared to CAD 3.38 million a year ago. Net income was CAD 0.148995 million compared to CAD 0.376928 million a year ago. Basic earnings per share from continuing operations was CAD 0.002 compared to CAD 0.004 a year ago.
For the nine months, sales was CAD 11.5 million compared to CAD 13.9 million a year ago. Revenue was CAD 11.65 million compared to CAD 14.23 million a year ago. Net loss was CAD 0.16996 million compared to net income of CAD 0.804098 million a year ago. Basic loss per share from continuing operations was CAD 0.002 compared to basic earnings per share from continuing operations of CAD 0.009 a year ago. Diluted loss per share from continuing operations was CAD 0.002 compared to diluted earnings per share from continuing operations of CAD 0.009 a year ago.
Solution Financial Inc. is engaged in providing sourcing and leasing solutions for luxury and ultra-luxury vehicles, yachts and other high value assets in Canada. The Company operates through retail sales, leases, and financing for automotive vehicles, boats, and commercial equipment and out of three locations being Richmond, British Columbia, Calgary, Alberta and Vaughan, Ontario. Its solution works with a select group of automotive and marine dealerships providing lending solutions to clients who cannot obtain leasing terms with traditional Canadian financial institutions or other sub-prime lenders. Its solution provides a leasing experience whereby it partners with its clients to help them navigate the challenges of acquiring, insuring, maintaining, and upgrading vehicles and luxury assets in Canada. The Company's customers include new immigrants, business owners and international students.
SOLUTION FINANCIAL INC. 
