03:46 PM EST - Accord Financial Corp. : released its interim unaudited consolidated financial results for the three months ended September 30, 2012. Net earnings for the third quarter of 2012 declined to $1,725,378 compared to $2,248,167 last year. Earnings declined mainly due to lower revenue and, to a lesser extent, a higher provision for credit and loan losses. Earnings per share were 21 cents compared to 25 cents last year. Factoring volume declined to $474 million compared to $524 million last year largely due to lower non-recourse volume. Revenue decreased to $6,748,970 compared to $7,341,838 last year mainly due to lower non-recourse volume, and somewhat lower yields in our recourse factoring business. Accord Financial Corp.
shares T.ACD are trading unchanged at $6.87.
