Life Partners Holdings Inc (LPHI, Financial) filed Quarterly Report for the period ended 2012-11-30.
Life Partners Holdings, Inc. has a market cap of $50.1 million; its shares were traded at around $2.64 with and P/S ratio of 1.7. The dividend yield of Life Partners Holdings, Inc. stocks is 13%.
Revenues: Revenue decreased by $1,890,392, or 28%, from $6,666,795 in the Third Quarter of last year to $4,776,403 in the Third Quarter of this year. Brokerage fees declined by $1,007,147 or 24%, but increased 4% as a percentage of gross revenues. These factors resulted in a 35% decrease in the net revenues derived in the Third Quarter of this year compared to the Third Quarter of last year.
Brokerage and Referral Fees: Brokerage and referral fees decreased 24% or $1,007,147 from $4,161,233 in the Third Quarter of last year to $3,154,086 in the Third Quarter of this year. Brokerage and referral fees as a percentage of gross revenue increased from 62% in the Third Quarter of last year to 66% in the Third Quarter of this year. We believe the increase was due primarily to a policy resale accommodation to institutional clients, in which we cover their resale fees to encourage reinvestment of the sale proceeds and to promotional bonuses paid to licensees. In the Third Quarter of this year, broker referrals accounted for 67% of the total face value of policies transacted, compared to 100% in the Third Quarter of last year. For the Third Quarter of this year, three brokers accounted for more than 10% of the face value of all completed transactions, constituted 57% of the total face value of completed transactions. For the Third Quarter of last year, six brokers who each accounted for more than 10% of the face value of all completed transactions, and constituted 94% of the total face value of completed transactions. No one licensee accounted for more than 10% of the licensee referral fees expense.
Revenues: Revenues decreased by $13,732,992, or 50%, from $27,311,539 in the First Nine Months of last year to $13,578,547 in the First Nine Months of this year. Brokerage fees declined by $8,333,775 or 48%, but increased 3% as a percentage of gross revenues. These factors resulted in a 55% decrease in the net revenues derived in the Third Quarter of this year compared to the Third Quarter of last year.
Brokerage and Referral Fees: Brokerage and referral fees decreased 48% or $8,333,775 from $17,472,277 in the First Nine Months of last year to $9,138,502 in the First Nine Months of this year. Brokerage and referral fees as a percentage of gross revenue increased from 64% in the First Nine Months of last year to 67% in the First Nine Months of this year due primarily to a policy resale accommodation to institutional clients. In the First Nine Months of this year, broker referrals accounted for 87% of the total face value of policies transacted, compared to 100% in the First Nine Months of last year. For the First Nine Months of this year, three brokers who each accounted for more than 10% of the face value of all completed transactions, constituted 52% of the total face value of completed transactions. For the First Nine Months of last year, two brokers who each accounted for more than 10% of the face value of all completed transactions, constituted 25% of the total face value of completed transactions. No one licensee accounted for more than 10% of the licensee referral fees expense during the period.
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Life Partners Holdings, Inc. has a market cap of $50.1 million; its shares were traded at around $2.64 with and P/S ratio of 1.7. The dividend yield of Life Partners Holdings, Inc. stocks is 13%.
Highlight of Business Operations:
We reported a net loss of $753,649 for the three months ended November 30, 2012 (the “Third Quarter of this year”), compared to a net loss of $1,082,848 for the three months ended November 30, 2011 (the “Third Quarter of last year”). Our lower net loss resulted primarily from a 27% decrease in total operating and administrative expenses and a $354,997 credit balance against previously recognized settlement costs. The number of life settlement transactions we brokered increased from 10 to 12, while the average revenue per settlement decreased by 40%, from $666,680 in the Third Quarter of last year to $398,034 in the Third Quarter of this year. The decrease in average revenue per settlement during the Third Quarter of this year is due primarily to a larger number of smaller faced policies transacted during this period as well as higher brokerage and referral fees due to a policy resale accommodation to institutional clients, in which we cover their resale fees to encourage reinvestment of the sale proceeds, and to promotional bonuses paid to licensees.Revenues: Revenue decreased by $1,890,392, or 28%, from $6,666,795 in the Third Quarter of last year to $4,776,403 in the Third Quarter of this year. Brokerage fees declined by $1,007,147 or 24%, but increased 4% as a percentage of gross revenues. These factors resulted in a 35% decrease in the net revenues derived in the Third Quarter of this year compared to the Third Quarter of last year.
Brokerage and Referral Fees: Brokerage and referral fees decreased 24% or $1,007,147 from $4,161,233 in the Third Quarter of last year to $3,154,086 in the Third Quarter of this year. Brokerage and referral fees as a percentage of gross revenue increased from 62% in the Third Quarter of last year to 66% in the Third Quarter of this year. We believe the increase was due primarily to a policy resale accommodation to institutional clients, in which we cover their resale fees to encourage reinvestment of the sale proceeds and to promotional bonuses paid to licensees. In the Third Quarter of this year, broker referrals accounted for 67% of the total face value of policies transacted, compared to 100% in the Third Quarter of last year. For the Third Quarter of this year, three brokers accounted for more than 10% of the face value of all completed transactions, constituted 57% of the total face value of completed transactions. For the Third Quarter of last year, six brokers who each accounted for more than 10% of the face value of all completed transactions, and constituted 94% of the total face value of completed transactions. No one licensee accounted for more than 10% of the licensee referral fees expense.
Revenues: Revenues decreased by $13,732,992, or 50%, from $27,311,539 in the First Nine Months of last year to $13,578,547 in the First Nine Months of this year. Brokerage fees declined by $8,333,775 or 48%, but increased 3% as a percentage of gross revenues. These factors resulted in a 55% decrease in the net revenues derived in the Third Quarter of this year compared to the Third Quarter of last year.
Brokerage and Referral Fees: Brokerage and referral fees decreased 48% or $8,333,775 from $17,472,277 in the First Nine Months of last year to $9,138,502 in the First Nine Months of this year. Brokerage and referral fees as a percentage of gross revenue increased from 64% in the First Nine Months of last year to 67% in the First Nine Months of this year due primarily to a policy resale accommodation to institutional clients. In the First Nine Months of this year, broker referrals accounted for 87% of the total face value of policies transacted, compared to 100% in the First Nine Months of last year. For the First Nine Months of this year, three brokers who each accounted for more than 10% of the face value of all completed transactions, constituted 52% of the total face value of completed transactions. For the First Nine Months of last year, two brokers who each accounted for more than 10% of the face value of all completed transactions, constituted 25% of the total face value of completed transactions. No one licensee accounted for more than 10% of the licensee referral fees expense during the period.
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