Manhattan Bridge Capital, Inc. reports decrease in net income and revenue for first quarter.

From GlobeNewswire: 2025-04-24 07:05:00

Manhattan Bridge Capital, Inc. reported a net income of approximately $1,373,000 for the first quarter of 2025, a decrease of 7.0% compared to the same period in 2024. Total revenue for the quarter was approximately $2,274,000, down 11.6% from 2024, primarily due to lower interest income from loans. As of March 31, 2025, total shareholders’ equity was approximately $43,326,000. The company’s CEO, Assaf Ran, expressed concerns about delays in interest rate reductions and global economic uncertainty affecting the real estate market but believes the company is well-positioned to navigate challenges.

Manhattan Bridge Capital, Inc. offers short-term secured, non-banking loans to real estate investors in the New York metropolitan area, including New Jersey, Connecticut, and Florida. The company’s financial statements for the first quarter of 2025 show a decrease in revenue and net income compared to the same period in 2024. Total assets were $65,787,420 as of March 31, 2025, with total liabilities at $22,461,338. The company’s balance sheet indicates a strong equity position, with total stockholders’ equity at $43,326,082. The company’s consolidated statements of operations show a net income of $1,373,134 for the quarter.



Read more at GlobeNewswire: Manhattan Bridge Capital, Inc. Reports First Quarter