Announcement • Jul 01
Oconee Federal Financial Corp. and Oconee Federal Savings and Loan Association Announce Board and Management Changes Oconee Federal Financial Corp. and Oconee Federal Savings and Loan Association announced leadership actions approved by the Boards of Directors of the Company and Oconee Federal on June 25, 2026. Curtis T. Evatt has been elected Chairman of the Boards of Directors of both the Company and Oconee Federal. Mr. Evatt will continue to serve as Chief Executive Officer of Oconee Federal and President and Chief Executive Officer of the Company. Mr. Evatt succeeds Robert N. McLellan, Jr., who previously served as Chairman of the Boards of Directors of both the Company and Oconee Federal. In addition, David H. Stafford has been elected President of Oconee Federal. Mr. McLellan will continue to serve as a member of the Boards of Directors of the Company and Oconee Federal. The Board's actions are part of the Company's ongoing succession planning process and are intended to support the continued growth and long-term strategic objectives of the Company. The transitions reflect the Board's commitment to developing executive leadership, and ensuring continuity for customers, employees, shareholders, and the communities served by the Company and Oconee Federal. Announcement • Apr 24
Oconee Federal Financial Corp. Announces Quarterly Cash Dividend, Payable on or About May 21, 2026 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of May 7, 2026, and will be paid on or about May 21, 2026. Announcement • Jan 22
Oconee Federal Financial Corp. Announces Quarterly Cash Dividend on Common Stock, Payable on or About February 19, 2026 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of February 5, 2026, and will be paid on or about February 19, 2026. Announcement • Oct 23
Oconee Federal Financial Corp. Announces Quarterly Cash Dividend, Payable on or About November 20, 2025 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of November 6, 2025, and will be paid on or about November 20, 2025. Announcement • Jul 23
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About August 21, 2025 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of August 7, 2025, and will be paid on or about August 21, 2025. Announcement • Jun 13
Oconee Federal Financial Corp. and Oconee Federal Savings and Loan Association Appoints John W. Hobbs and Bill Barker as Directors, Effective July 1, 2025 Oconee Federal Financial Corp. and its subsidiary, Oconee Federal Savings and Loan Association (“Oconee Federal”), have appointed John W. Hobbs and Bill Barker as directors of each of the Company and Oconee Federal, effective July 1, 2025. Mr. Hobbs is currently the Executive Vice President and Chief Financial Officer of the Company and Oconee Federal, which he joined in 2017 as Senior Vice President and Chief Financial Officer. Mr. Hobbs has served as the Chief Financial Officer for multiple financial institutions and their holding companies located in South Carolina as part of a career that has included over 30 years in the banking industry. Mr. Barker is the Senior Vice President and Senior Credit Officer of Oconee Federal, and was appointed to those positions in 2015. Mr. Barker has over 50 years of banking experience, and is accomplished in lending, asset management and business development and has an extensive knowledge of the South Carolina marketplace. Announcement • Apr 24
Oconee Federal Financial Corp. Announces Quarterly Dividend, Payable on May 8, 2025 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of May 8, 2025, and will be paid on or about May 22, 2025. Announcement • Jan 23
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About February 20, 2025 Oconee Federal Financial Corp. announced that the board of directors declared a quarterly cash dividend of $0.10 per share of the company’s common stock. The dividend will be payable to stockholders of record as of February 6, 2025, and will be paid on or about February 20, 2025. Announcement • Oct 25
Oconee Federal Financial Corp. Announces Quarterly Dividend, Payable on or About November 21, 2024 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of November 7, 2024, and will be paid on or about November 21, 2024. Announcement • Jul 23
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About August 22, 2024 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of August 8, 2024, and will be paid on or about August 22, 2024. Announcement • Apr 26
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About May 23, 2024 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of May 9, 2024, and will be paid on or about May 23, 2024. Announcement • Jan 25
Oconee Federal Financial Corp. Announces Quarterly Dividend, Payable on or About February 22, 2024 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of February 8, 2024, and will be paid on or about February 22, 2024. Announcement • Oct 27
Oconee Federal Financial Corp. Announces Quarterly Dividend, Payable on or About November 22, 2023 Oconee Federal Financial Corp. announced that the Board of Directors declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of November 9, 2023, and will be paid on or about November 22, 2023. Announcement • Aug 11
Oconee Federal Financial Corp. Files Form 15 Oconee Federal Financial Corp. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.01 per share. Announcement • Aug 10
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on August 25, 2023 Oconee Federal Financial Corp. on August 8, 2023, the Board of Directors of the Company declared a quarterly cash dividend of $0.10 per share of the Company’s common stock payable to stockholders of record as of August 18, 2023, which is payable on August 25, 2023. Announcement • Aug 03
Oconee Federal Financial Corp.(NasdaqCM:OFED) dropped from S&P TMI Index Oconee Federal Financial Corp.(NasdaqCM:OFED) dropped from S&P TMI Index Announcement • Aug 02
Oconee Federal Financial Corp.(NasdaqCM:OFED) dropped from NASDAQ Composite Index Oconee Federal Financial Corp. has been dropped from Nasdaq Composite Index. Announcement • Jul 23
Oconee Federal Financial Corp. Announces Voluntary Nasdaq Delisting Oconee Federal Financial Corp. (the "Company"), the holding company for Oconee Federal Savings and Loan Association ("Oconee Federal"), announced that it has notified the NASDAQ Stock Market of the Company's intent to voluntarily delist its common stock from the NASDAQ Capital Market. The Company further intends to withdraw the registration of its common stock with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). By a separate press release, the Company announced the execution of an agreement pursuant to which Mutual Savings Bank, a federally-chartered mutual savings bank, will merge with and into Oconee Federal with Oconee Federal as the surviving entity. The Company intends to file a Form 25 with the SEC to remove its common stock from listing on the NASDAQ Capital Market and to deregister its stock under Section 12(b) of the Exchange Act on or about July 31, 2023. The Company expects the last trading day of its shares of common stock on the NASDAQ Capital Market will be on or about July 31, 2023. The Company intends to file a Form 15 with the SEC on or about August 10, 2023 to terminate the registration of its common stock under section 12(g) of the Exchange Act. The obligation of the Company to file periodic reports with the SEC, including reports on Forms 10-K, 10-Q and 8-K, will be suspended immediately upon filing of the Form 15. Once the Form 15 is effective, which is expected to occur within 90 days of filing, the Company will no longer be a public reporting company and its obligations to file proxy materials and other reports with the SEC will also be suspended. The Company has applied to have its shares quoted on the OTCQX Market following NASDAQ delisting. As a savings and loan holding company, the Company is eligible to deregister with the SEC because it has fewer than 1,200 shareholders of record. The decision of the Company's board of directors to delist and deregister its common stock was based on numerous factors, including the significant cost savings of no longer filing periodic reports with the SEC, as well as reductions in accounting fees, legal fees and other costs. The Company's financial statements will continue to be audited by an independent accounting firm and the Company intends to publish quarterly and annual financial information via press releases or by postings on Oconee Federal Savings and Loan Association's website (www.oconeefederal.com). Oconee Federal Savings and Loan Association will continue to report detailed quarterly financial results to its primary federal regulator, which are publicly available. Reported Earnings • May 13
Third quarter 2023 earnings released: EPS: US$0.11 (vs US$0.19 in 3Q 2022) Third quarter 2023 results: EPS: US$0.11 (down from US$0.19 in 3Q 2022). Revenue: US$3.78m (down 11% from 3Q 2022). Net income: US$628.0k (down 40% from 3Q 2022). Profit margin: 17% (down from 25% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • May 03
Upcoming dividend of US$0.10 per share at 2.0% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$18.64, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 11x in the Mortgage industry in the US. Total returns to shareholders of 17% over the past three years. Reported Earnings • Feb 14
Second quarter 2023 earnings released: EPS: US$0.20 (vs US$0.22 in 2Q 2022) Second quarter 2023 results: EPS: US$0.20 (down from US$0.22 in 2Q 2022). Revenue: US$4.28m (down 2.4% from 2Q 2022). Net income: US$1.09m (down 11% from 2Q 2022). Profit margin: 26% (down from 28% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 28
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend on Common Stock, Payable on February 9, 2023 On January 26, 2023, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of February 9, 2023, and will be paid on or about February 23, 2023. Board Change • Jan 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 23 November 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (6.5%). Announcement • Oct 28
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About November 23, 2022 Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of November 10, 2022, and will be paid on or about November 23, 2022. Announcement • Oct 15
Oconee Federal Financial Corp., Annual General Meeting, Nov 17, 2022 Oconee Federal Financial Corp., Annual General Meeting, Nov 17, 2022, at 16:30 US Eastern Standard Time. Location: office of Oconee Federal Savings and Loan Association, 115 East North Second Street, Seneca, South Carolina 29678 california United States Agenda: To discuss and approve the election of two directors; to approve an advisory, non-binding resolution with respect to the executive compensation described in the Proxy Statement; to discuss the ratification of the appointment of Elliott Davis LLC as independent registered public accounting firm for the year ending June 30, 2023; and to discuss such other matters as may properly come before the Annual Meeting, or any adjournments thereof. Reported Earnings • Sep 22
Full year 2022 earnings released: EPS: US$0.73 (vs US$0.73 in FY 2021) Full year 2022 results: EPS: US$0.73 (up from US$0.73 in FY 2021). Revenue: US$17.0m (flat on FY 2021). Net income: US$4.09m (flat on FY 2021). Profit margin: 24% (in line with FY 2021). Net interest margin (NIM): 3.03% (down from 3.04% in FY 2021). Cost-to-income ratio: 70.1% (down from 70.5% in FY 2021). Non-performing loans: 0.60% (down from 0.82% in FY 2021). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 16% share price gain to US$26.09, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 12x in the Mortgage industry in the US. Total returns to shareholders of 20% over the past three years. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 25 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (5.6%). Announcement • Jul 29
Oconee Federal Financial Corp. Declares a Quarterly Cash Dividend, Payable on or About August 25, 2022 On July 28, 2022, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of the Company’s common stock. The dividend will be payable to stockholders of record as of August 11, 2022, and will be paid on or about August 25, 2022. Board Change • Jul 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 26
Oconee Federal Financial Corp.(NasdaqCM:OFED) dropped from Russell Microcap Value Index Oconee Federal Financial Corp.(NasdaqCM:OFED) dropped from Russell Microcap Value Index Reported Earnings • May 13
Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.16 in 3Q 2021) Third quarter 2022 results: EPS: US$0.19 (up from US$0.16 in 3Q 2021). Revenue: US$4.25m (up 6.0% from 3Q 2021). Net income: US$1.04m (up 20% from 3Q 2021). Profit margin: 25% (up from 22% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • May 04
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (3.9%). Lower than average of industry peers (6.1%). Board Change • Apr 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Mar 18
President exercised options to buy US$741k worth of stock. On the 14th of March, Curtis Evatt exercised 60.45k options at around US$11.58, then sold 28.69k of them at US$24.40 each and kept the remainder. Since September 2021, Curtis' direct individual holding has decreased from 98.41k shares to 97.41k. Company insiders have collectively sold US$126k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 20
President exercised options and sold US$68k worth of stock On the 17th of February, Curtis Evatt exercised 6k options at a strike price of around US$11.58 and sold these shares for an average price of US$22.95 per share. This trade did not impact their existing holding. For the year to June 2021, Curtis' total compensation was 76% salary and 24% non-salary. Since March 2021, Curtis' direct individual holding has decreased from 99.08k shares to 97.41k. Company insiders have collectively sold US$583k more than they bought, via options and on-market transactions in the last 12 months. Board Change • Feb 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. President, CEO & Director Curt Evatt was the last director to join the board, commencing their role in 2010. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: US$0.22 (up from US$0.19 in 2Q 2021). Revenue: US$4.38m (up 3.4% from 2Q 2021). Net income: US$1.24m (up 16% from 2Q 2021). Profit margin: 28% (up from 25% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Announcement • Jan 30
Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or About February 24, 2022 On January 27, 2022, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of the Company's common stock. The dividend will be payable to stockholders of record as of February 10, 2022, and will be paid on or about February 24, 2022. Recent Insider Transactions Derivative • Dec 23
Independent Director exercised options and sold US$123k worth of stock On the 20th of December, W. Poore exercised 15.55k options at around US$11.58, then sold 10k of the shares acquired at an average of US$24.02 per share and kept the remainder. Since September 2021, Poore has owned 31.22k shares directly. Company insiders have collectively sold US$515k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 14
First quarter 2022 earnings released: EPS US$0.14 (vs US$0.22 in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2022 results: Revenue: US$3.98m (down 11% from 1Q 2021). Net income: US$771.0k (down 39% from 1Q 2021). Profit margin: 19% (down from 28% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Sep 22
Full year 2021 earnings released: EPS US$0.73 (vs US$0.68 in FY 2020) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: US$16.9m (flat on FY 2020). Net income: US$4.07m (up 5.3% from FY 2020). Profit margin: 24% (up from 23% in FY 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 31
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 19 August 2021. Trailing yield: 1.9%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (3.4%). Reported Earnings • May 16
Third quarter 2021 earnings released: EPS US$0.16 (vs US$0.17 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: US$4.01m (down 9.7% from 3Q 2020). Net income: US$870.0k (down 7.9% from 3Q 2020). Profit margin: 22% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 28
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 20 May 2021. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (3.0%). Recent Insider Transactions Derivative • Mar 11
Independent Chairman of the Board exercised options to buy US$237k worth of stock. On the 8th of March, Robert McLellan exercised 15.55k options at around US$11.58, then sold 6.72k of them at US$26.80 each and kept the remainder. Since September 2020, Robert has owned 18.36k shares directly. Company insiders have collectively bought US$23.8 more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Feb 13
Second quarter 2021 earnings released: EPS US$0.19 (vs US$0.19 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: US$4.24m (up 4.3% from 2Q 2020). Net income: US$1.07m (down 1.7% from 2Q 2020). Profit margin: 25% (down from 27% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 13
New 90-day low: US$22.35 The company is down 5.0% from its price of US$23.54 on 13 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Mortgage industry, which is up 4.0% over the same period. Recent Insider Transactions Derivative • Dec 18
Secretary & Independent Director exercised options to buy US$215k worth of stock. On the 16th of December, Harry Mays exercised 15.55k options at around US$11.58, then sold 7.09k of them at US$25.39 each and kept the remainder. Since September 2020, Harry has owned 11.17k shares directly. Company insiders have collectively sold US$48k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 16
First quarter 2021 earnings released: EPS US$0.22 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$4.47m (up 8.2% from 1Q 2020). Net income: US$1.27m (up 36% from 1Q 2020). Profit margin: 28% (up from 23% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 02
New 90-day low: US$20.81 The company is down 19% from its price of US$25.65 on 02 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Mortgage industry, which is down 12% over the same period. Reported Earnings • Sep 23
Full year earnings released - EPS US$0.68 Over the last 12 months the company has reported total profits of US$3.86m, up 3.9% from the prior year. Total revenue was US$16.8m over the last 12 months, largely unchanged from the prior year. Profit margins were 23%, which is higher than the 22% margin from last year. The increase in margin was primarily driven by lower expenses. 
