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Newtek Business Services Inc. (NEWT) CEO Barry Sloane on Q2 2018 Results - Earnings Call Transcript

Aug. 02, 2018 12:58 PM ETNewtekOne Inc. (NEWT)2 Comments
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Newtek Business Services Inc. (NASDAQ:NEWT) Q2 2018 Earnings Conference Call August 2, 2018 8:30 AM ET


Barry Sloane - Chairman, President and Chief Executive Officer

Jennifer Eddelson - Executive Vice President and Chief Accounting Officer


Robert Dodd - Raymond James

Frederick Cannon - KBW

Lisa Springer - Singular Research


Good day, ladies and gentlemen. Welcome to - the Newtek Business Services Corporation Quarter Two 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]. As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference Barry Sloane, President and CEO. Please go ahead, sir.

Barry Sloane

Good morning, everyone, and I'd like to welcome you to our Q2 2018 conference call. And on this morning's call with me is Jennifer Eddelson, our Chief Accounting Officer. For those of you that would like to follow along with our PowerPoint presentation, we welcome you to go to our website, newtekone, n-e-w-t-e-k-o-n-e.com, and go to the Investor Relations section and our PowerPoint presentation is there. It will also be our archived in an audio format.

I would like to draw everyone's attention to Slide 1 regarding our forward-looking statement and would appreciate if everybody could acknowledge that and read that.

Moving to Slide 2, we always like to start off our call with our stock's performance, and the number that we have here were derived from Bloomberg. Our 5-year total rate of return including dividends, 220%; our 3-year return is 102.2%; our 1-year return, 27.5%; and NEWT's total return from January 1 to July 27, including reinvested dividends so far this year, 17.6%.

On Slide 3, clearly we typically compare ourselves to

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