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Great Elm Group reports Q3 EPS (11c) vs. (46c) last year » 07:12

Great Elm Group

$2.31 /

+ (+0.00%)

Reports Q3 revenue $15.1M…

Reports Q3 revenue $15.1M vs. $16.2M last year. "Overall, we see positive momentum in all aspects of our business," stated Peter A. Reed, Chief Executive Officer. "During the quarter, DME resumed its acquisition program and announced the AMPM acquisition, which strengthens DME's presence in the Midwest and provides future organic growth potential through an expanded patient base and cross selling opportunities. We also anticipate the acquisition will drive margin improvement through operational efficiencies and other benefits of added scale. DME is beginning to see signs of business recovery from the pandemic impacts as the country continues moving toward a full economic reopening. We are optimistic about the resumption of organic growth at DME and also the potential for future acquisitions. Investment Management had a productive quarter in positioning GECC for further growth, and activity picked up mid-quarter with momentum accelerating through to quarter-end. We were pleased to simplify our balance sheet and corporate structure through previously announced transactions at one of our investment management subsidiaries, GECC GP Corp., resulting in a greater share of investment management profits for GEG. We anticipate further simplifying our balance sheet and corporate structure in the future. We are optimistic IM's financial results will continue to improve and we see a robust pipeline of opportunities at GECC, particularly in the specialty finance sector. To that end, GECC recently entered into a $25 million revolving credit facility that will enhance its ability to participate in such opportunities."

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