WACO, Texas, Aug. 11, 2008 (GLOBE NEWSWIRE) -- FirstCity Financial Corporation (Nasdaq:FCFC)
Highlights:
* FirstCity reported 2nd quarter 2008 loss of $6.5 million or $0.63
per diluted share -- which includes $8.5 million of net provisions.
* FirstCity invested $65.6 million in portfolio acquisitions and
other investments during the quarter.
* FirstCity purchased 215,800 shares of its common stock during the
quarter under its stock repurchase plan.
Components of the quarterly results are detailed below (dollars in thousands except per share data):
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ------------------
2008 2007 2008 2007
------------------ ------------------
(unaudited) (unaudited)
Portfolio Asset Acquisition
and Resolution $ (4,821) $ 4,313 $ (6,621) $ 6,183
Corporate overhead * (1,658) (2,507) (3,351) (5,292)
------------------ ------------------
Earnings (loss) from
continuing operations (6,479) 1,806 (9,972) 891
Loss from discontinued
operations, net of taxes (50) -- (141) --
------------------ ------------------
Net earnings (loss) to
common stockholders $ (6,529) $ 1,806 $(10,113) $ 891
================== ==================
Diluted earnings (loss)
per common share $ (0.63) $ 0.16 $ (0.97) $ 0.08
================== ==================
* Corporate overhead includes $0.8 million and $2.0 million of
expenses related to an independent audit committee investigation
for the three-month and six-month periods ended June 30, 2007,
respectively.
Portfolio Asset Acquisition and Resolution
For the second quarter 2008, the operating contribution from the Portfolio Asset Acquisition business resulted in a $4.8 million loss. The loss was comprised primarily of $11.5 million in revenues, $3.0 million in equity in earnings of investments, and $19.3 million of expenses. The business generated 50% of the revenues (including equity in earnings of investments) from domestic investments, 27% from investments in Latin America, and 23% from investments in Europe.
Earnings for the second quarter were positively impacted by continued income streams from Portfolio Assets of $5.6 million, equity in earnings of investments of $3.0 million, servicing fees of $2.7 million, and interest income of $1.2 million from loans receivable.
Second quarter earnings were negatively impacted by $8.5 million of net provisions -- comprised of $7.1 million of net provisions recorded to our consolidated domestic and Latin American portfolios, and $1.4 million as our share of net provisions recorded to portfolio assets held in our partnership interests ($1.1 million of net provisions in domestic partnerships, $0.2 million of net recoveries in European partnerships, and $0.5 million of net provisions in Latin American partnerships).
Portfolio Asset Acquisition and Resolution (Continued)
The provisions in second quarter 2008 were attributed primarily to declines in values of loan collateral and real estate assets in our domestic portfolios, and additional delays in the timing of collections of expected cash flows on domestic loan portfolios. Management believes that declines in real estate values and delayed collections are the resulting adverse effects from the subprime mortgage crisis that began in the United States in 2007. Economic uncertainties and substantial losses incurred by lending institutions over the past year have resulted in "tightened credit standards" and "restrained lending"; and excess supplies of building inventories have caused significant declines in real estate values. These events, in turn, triggered the following obstacles that hinder economic growth and stability: (1) increased defaults and foreclosures on loan collateral because borrowers cannot refinance their loans and/or continue to make payments; (2) adverse effects on businesses due to a decline in consumer spending; and (3) decreased investment by businesses due to their inability to obtain low-cost loans to finance their operations and/or growth. The provisions were identified in connection with management's regular evaluation of the collectibility of the Company's Portfolio Assets. Management's evaluation is inherently subjective as it requires estimates that are susceptible to revision in future periods as more information becomes available.
The following tables detail the impact of net foreign currency gains (losses) on corporate earnings:
Three Months Ended Six Months Ended
June 30, June 30,
Illustration of the Effects ------------------ ------------------
of Currency 2008 2007 2008 2007
Fluctuations (dollars in ------------------ ------------------
thousands) (unaudited) (unaudited)
--------------------------------------------------------------------
Net earnings (loss) to
Common Stockholders $ (6,529) $ 1,806 $(10,113) $ 891
Foreign currency gains
(losses):
Euro (187) (204) 38 (446)
Mexican Peso 448 182 694 159
Argentine Peso 25 9 22 (2)
Canadian Dollar 3 199 (12) 220
Chilean Peso (42) 21 62 23
--------------------------------------
Exchange rate at valuation
date:
Euro 0.63 0.74
Mexican Peso 10.28 10.87
Argentine Peso 3.02 3.09
Canadian Dollar 1.01 1.06
Chilean Peso 513.20 527.80
The Company was involved in acquiring $36.7 million of portfolio investments with a face value of approximately $92.1 million in the second quarter 2008 -- of which FirstCity's investment share was $33.4 million. FirstCity's global distribution of its second quarter 2008 investments includes $28.4 million in the United States and $5.0 million in Latin America. In addition to its portfolio acquisitions in second quarter 2008, FirstCity invested $23.9 million in the form of senior debt financing arrangements with domestic entities; $5.0 million for SBA loan originations and advances; and $3.3 million on investment property. At June 30, 2008, FirstCity's earning assets (Portfolio Assets, equity investments, loans receivable and entity-level earning assets) totaled $296.3 million, and the global distribution of such earning assets (at carrying value) included $204.5 million in the United States; $47.0 million in Europe; and $44.8 million in Latin America.
Portfolio Asset Acquisition and Resolution (Continued)
Portfolio purchases are detailed below (in millions):
Portfolio Purchases
-------------------
FirstCity
Investment
Latin FirstCity in
Domestic Europe America Total Investment Other Total
------------------------------------------------------------- ------
2008
2nd Quarter $ 28.4 $ -- $ 8.3 $ 36.7 $ 33.4 $ 32.2 $ 65.6
1st Quarter 6.7 -- 13.2 19.9 8.4 1.5 9.9
---------------------------------------------- ------
YTD 2008 $ 35.1 $ -- $ 21.5 $ 56.6 $ 41.8 $ 33.7 $ 75.5
============================================== ======
2007
4th Quarter $ 5.3 $ 14.7 $ 4.4 $ 24.4 $ 15.7 $ 3.7 $ 19.4
3rd Quarter 17.4 2.3 -- 19.7 16.3 6.3 22.6
2nd Quarter 27.4 2.4 61.6 91.4 25.2 4.2 29.4
1st Quarter 71.6 3.8 3.4 78.8 69.5 7.8 77.3
---------------------------------------------- ------
YTD 2007 $121.7 $ 23.2 $ 69.4 $214.3 $126.7 $ 22.0 $148.7
============================================== ======
Total Year
2006 $136.6 $102.2 $ 58.2 $297.0 $144.0 $ 28.2 $172.2
============================================== ======
Total Year
2005 $ 93.4 $ 37.2 $ 16.0 $146.6 $ 71.4 $ 3.2 $ 74.6
============================================== ======
Considering the substantial losses reported in the financial services sector over the past year and downward pressure on economic growth due to the subprime mortgage crisis, management remains positive on the outlook of the Company. Management believes that current market conditions should not hinder FirstCity's ability to expand its business, and that asset acquisition opportunities at attractive margins are available. As mentioned above, FirstCity was involved in acquiring $36.7 million of portfolio investments with a face value of approximately $92.1 million in the second quarter 2008 (of which FirstCity's investment share was $33.4 million), and the Company invested an additional $32.2 million in the form of debt financing arrangements and real estate investments. In addition, the Company is currently evaluating 26 different transactions representing over $2.7 billion in face value of assets, although there can be no assurance that FirstCity will be able to consummate any of these transactions on acceptable terms.
Other Corporate Matters
Liquidity
FirstCity has $350.0 million of credit facility commitments available to finance its portfolio and asset purchases and equity investments in new ventures, and to provide for working capital loans. At June 30, 2008, FirstCity's maximum borrowing capacity under these credit commitments was $128.0 million, subject to borrowing base requirements of the respective credit facilities.
Share Repurchase Program
FirstCity has a stock repurchase program providing for the repurchase of up to 1,500,000 shares of its common stock. To date, the Company has purchased 1,078,630 shares at an average cost of $8.62 per share (including 215,800 shares purchased in the second quarter of 2008 at an average cost of $5.13, and 480,330 shares purchased in the first six months of 2008 at an average cost of $6.76 per share). Share repurchases continue and signify management's assessment that the shares are undervalued in the market and represent a good investment alternative to enhance long term shareholder value.
Conference Call
A conference call will be held on Monday, August 11, 2008 at 9:00 a.m. Central Time to discuss second quarter results. A question and answer session will follow the prepared remarks. Details to access the call and webcast are as follows:
Event: FirstCity Financial Corporation Second Quarter
2008 Conference Call
Date: Monday, August 11, 2008
Time: 9:00 a.m. Central Time
Host: James T. Sartain, FirstCity's President and
Chief Executive Officer
Web Access: FirstCity's web page - www.fcfc.com/invest.htm or,
CCBN's Investor websites - www.streetevents.com and,
www.fulldisclosure.com
Dial In Access: Domestic 800-291-5365
International 617-614-3922
Pass code 11238703
Replay Available on FirstCity's web page (www.fcfc.com/invest.htm)
FirstCity Financial Corporation is a diversified financial services company with operations dedicated to portfolio asset acquisition and resolution with offices in the U.S. and with affiliate organizations in Europe and Latin America. FirstCity common stock is listed on the NASDAQ Global Select Market (Nasdaq:FCFC).
The FirstCity Financial Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4413
Forward-Looking Statements
Certain statements in this press release, which are not historical in fact, including, but not limited to, statements relating to future performance, may be deemed to be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, performance or achievements, and may contain the words "expect," "intend," "plan," "estimate," "believe," "will be," "will continue," "will likely result," "indication" and similar expressions. Such statements inherently are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. There are many important factors that could cause the Company's actual results to differ materially.
These factors include, but are not limited to, the performance of the Company's subsidiaries and affiliates; availability of portfolio assets and other investment opportunities; the Company's ability to consummate portfolio acquisitions and other investment transactions on acceptable terms; assumptions underlying portfolio asset performance; risks associated with start up of new businesses and entry into new foreign markets, risks associated with foreign operations; currency exchange rate fluctuations; interest rate risk; credit risk; risks of declining value of loans, collateral or assets; the degree to which the Company is leveraged; the Company's continued need for financing; availability of the Company's credit facilities; ability to obtain additional financing from the Bank of Scotland or any other lender; the impact of certain covenants in loan agreements of the Company and its subsidiaries; the ability of the Company to utilize net operating loss carry forwards; general economic, business and market conditions; foreign social and economic conditions; changes (legislative and otherwise) in the asset securitization industry; regulatory and accounting changes; fluctuation in residential and commercial real estate values; capital markets conditions, including the markets for asset-backed securities; uncertainties of any litigation arising from discontinued operations; factors more fully discussed and identified under Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations;" and risk factors and other risks identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on March 17, 2008, as well as in the Company's other filings with the SEC. Many of these factors are beyond the Company's control. In addition, it should be noted that past financial and operational performance of the Company is not necessarily indicative of future financial and operational performance. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements.
The forward-looking statements in this release speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.
FirstCity Financial Corporation
Summary of Operations
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ------------------
2008 2007 2008 2007
-------- -------- -------- --------
Revenues:
Servicing fees $ 2,706 $ 2,977 $ 4,906 $ 5,582
Income from Portfolio
Assets 5,622 5,685 10,557 10,720
Gain on sale of SBA loans
held for sale, net 133 343 142 624
Interest income from SBA
loans 366 606 842 914
Interest income from
affiliates 483 140 633 266
Interest income from loans
receivable - other 355 982 630 1,889
Revenue from controlled
affiliate 859 -- 1,664 --
Other income 965 538 1,619 997
-------- -------- -------- --------
Total revenues 11,489 11,271 20,993 20,992
-------- -------- -------- --------
Expenses:
Interest and fees on notes
payable 3,758 4,668 7,441 8,919
Salaries and benefits 5,297 3,864 10,327 7,857
Provision for loan and
impairment losses 7,090 746 10,120 1,072
Occupancy, data processing,
property protection and
other 4,680 4,388 8,605 8,321
-------- -------- -------- --------
Total expenses 20,825 13,666 36,493 26,169
-------- -------- -------- --------
Equity in earnings of
investments 3,008 4,332 5,848 6,158
-------- -------- -------- --------
Earnings (loss) from
continuing operations before
income taxes and minority
interest (6,328) 1,937 (9,652) 981
Income taxes (98) (146) (289) (213)
Minority interest (53) 15 (31) 123
-------- -------- -------- --------
Earnings (loss) from
continuing operations (6,479) 1,806 (9,972) 891
-------- -------- -------- --------
Discontinued operations
Loss from discontinued
operations (50) -- (141) --
-------- -------- -------- --------
Net earnings (loss) $ (6,529) $ 1,806 $(10,113) $ 891
======== ======== ======== ========
Basic earnings (loss) per
common share are as follows:
Earnings (loss) from
continuing operations $ (0.63) $ 0.17 $ (0.96) $ 0.08
Discontinued operations $ -- $ -- $ (0.01) $ --
Net earnings (loss) per
common share $ (0.63) $ 0.17 $ (0.97) $ 0.08
Weighted average common
shares outstanding 10,357 10,789 10,471 10,789
Diluted earnings (loss) per
common share are as follows:
Earnings (loss) from
continuing operations $ (0.63) $ 0.16 $ (0.96) $ 0.08
Discontinued operations $ -- $ -- $ (0.01) $ --
Net earnings (loss) per
common share $ (0.63) $ 0.16 $ (0.97) $ 0.08
Wtd. avg. common shares
outstanding 10,357 11,397 10,471 11,414
Selected Unaudited Balance Sheet Data
June 30, Dec. 31,
2008 2007
-------- --------
Cash and cash equivalents $ 12,316 $ 23,037
Restricted cash 1,190 509
Earning Assets:
Portfolio Assets, net 147,840 122,001
Loans and interest
receivable 52,923 26,574
Equity investments 87,624 87,622
Railroad assets 7,879 7,403
Deferred tax asset, net 20,101 20,101
Service fees receivable and
other assets 18,750 10,872
-------- --------
Total assets $348,623 $298,119
======== ========
Notes payable to banks $230,585 $177,329
Note payable to affiliate 8,658 --
Minority interest and other
liabilities 15,188 13,967
-------- --------
Total liabilities 254,431 191,296
Total equity 94,192 106,823
-------- --------
Total liabilities and
equity $348,623 $298,119
======== ========
FirstCity Financial Corporation
Supplemental Information
(Dollars in thousands)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ------------------
2008 2007 2008 2007
-------- -------- -------- --------
Portfolio Asset Acquisition
and Resolution:
Summary Operating Statement
Data
Revenues $ 11,445 $ 11,188 $ 20,766 $ 20,780
Equity in earnings of
investments 3,008 4,332 5,848 6,158
Expenses (12,184) (10,461) (23,115) (19,683)
-------- -------- -------- --------
Operating contribution
before provision for
loan and impairment
losses 2,269 5,059 3,499 7,255
Provision for loan and
impairment losses 7,090 746 10,120 1,072
-------- -------- -------- --------
Operating contribution,
net of direct taxes $ (4,821) $ 4,313 $ (6,621) $ 6,183
======== ======== ======== ========
Aggregate purchase price of
portfolios acquired:
Acquisition partnerships
Domestic $ 28,426 $ 27,464 $ 35,119 $ 99,032
Latin America 8,314 61,558 21,521 64,959
Europe -- 2,409 -- 6,211
-------- -------- -------- --------
Total $ 36,740 $ 91,431 $ 56,640 $170,202
======== ======== ======== ========
Historical Acquisitions - Purchase FirstCity's
Annual: Price Investment
-------- --------
Six months ended
June 30, 2008 $ 56,640 $ 41,883
2007 214,333 126,714
2006 296,990 144,048
2005 146,581 71,405
2004 174,139 59,762
June 30, Dec. 31,
2008 2007
-------- --------
Portfolio acquisition and
resolution assets by
region:
Domestic $204,234 $163,078
Latin America 44,809 33,450
Europe 46,941 46,701
Canada 282 371
-------- --------
Total $296,266 $243,600
======== ========
Three Months Ended Six Months Ended
June 30, June 30,
------------------ ------------------
2008 2007 2008 2007
-------- -------- -------- --------
Revenues and equity in
earnings of investments
by region:
Domestic $ 7,249 $ 9,382 $ 13,967 $ 16,349
Latin America 3,853 3,693 6,888 6,225
Europe 3,340 2,375 5,735 4,205
Canada 11 70 24 159
-------- -------- -------- --------
Total $ 14,453 $ 15,520 $ 26,614 $ 26,938
======== ======== ======== ========
Revenues and equity in
earnings of investments
by source:
Equity earnings $ 3,008 $ 4,332 $ 5,848 $ 6,158
Income from Portfolio
Assets 5,622 5,685 10,557 10,720
Servicing fees 2,706 2,977 4,906 5,582
Gain on sale of SBA
loans held for sale, net 133 343 142 624
Interest income from
SBA loans 366 606 842 914
Interest income from
affiliates 483 140 633 266
Interest income from
loans receivable - other 355 982 630 1,889
Revenue from controlled
affiliate 859 -- 1,664 --
Other 921 455 1,392 785
-------- -------- -------- --------
Total $ 14,453 $ 15,520 $ 26,614 $ 26,938
======== ======== ======== ========
FirstCity Financial Corporation
Supplemental Information
(Dollars in thousands)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
---------------------- ----------------------
2008 2007 2008 2007
---------- ---------- ---------- ----------
Analysis of Equity
Investments
FirstCity's average
investment:
Domestic
$ 21,812 $ 34,200 $ 22,903 $ 35,084
Latin America 23,798 21,177 23,311 20,161
Europe 31,163 44,365 30,793 46,112
Europe-Servicing
subsidiaries 7,189 5,630 7,084 5,827
Latin America-
Servicing
subsidiaries 5,271 4,500 5,059 2,785
Domestic-Operating
subsidiaries (110) -- (63) --
---------- ---------- ---------- ----------
Total $ 89,123 $ 109,872 $ 89,087 $ 109,969
========== ========== ========== ==========
FirstCity's share of
equity earnings
(losses):
Domestic $ (112) $ 1,113 $ 154 $ 1,364
Latin America 735 887 1,104 877
Europe 2,394 1,673 4,080 3,213
Europe-Servicing
subsidiaries 494 487 810 563
Latin America-
Servicing
subsidiaries (147) 172 56 141
Domestic-Operating
subsidiaries (356) -- (356) --
---------- ---------- ---------- ----------
Total $ 3,008 $ 4,332 $ 5,848 $ 6,158
========== ========== ========== ==========
Selected Other Data:
Average investment
in consolidated
portfolio assets and
loans receivable:
Domestic $ 147,704 $ 163,146 $ 139,248 $ 150,017
Latin America 9,031 8,267 8,176 8,831
Europe 9,219 4,014 9,158 3,800
Canada 295 1,837 321 2,023
---------- ---------- ---------- ----------
Total $ 166,249 $ 177,264 $ 156,903 $ 164,671
========== ========== ========== ==========
Income from
consolidated portfolio
assets and loans
receivable:
Domestic $ 6,239 $ 7,076 $ 11,474 $ 13,043
Latin America 382 519 703 1,046
Europe 327 91 603 165
Canada 11 70 24 159
---------- ---------- ---------- ----------
Total $ 6,959 $ 7,756 $ 12,804 $ 14,413
========== ========== ========== ==========
Servicing fee revenues:
Domestic
partnerships:
Servicing fee
revenue $ 347 $ 1,050 $ 709 $ 1,679
Average servicing
fee % 5.4% 4.2% 4.0% 4.0%
Latin American
partnerships:
Servicing fee
revenue $ 2,281 $ 1,909 $ 4,129 $ 3,867
Average servicing
fee % 25.2% 22.2% 20.3% 25.9%
Total Service Fees-
Portfolio Assets:
Servicing fee
revenue $ 2,628 $ 2,959 $ 4,838 $ 5,546
Average servicing
fee % 17.0% 8.7% 12.8% 9.7%
Service Fees-SBA
loans: $ 78 $ 18 $ 68 $ 36
Total Service
Fees $ 2,706 $ 2,977 $ 4,906 $ 5,582
Collections:
Domestic
partnerships $ 6,378 $ 25,259 $ 17,575 $ 42,484
Latin American
partnerships 28,752 14,899 40,516 27,241
European
partnerships 20,353 14,328 33,121 47,839
---------- ---------- ---------- ----------
Subtotal 55,483 54,486 91,212 117,564
Consolidated
portfolio assets 11,426 21,393 30,915 41,084
---------- ---------- ---------- ----------
Total $ 66,909 $ 75,879 $ 122,127 $ 158,648
========== ========== ========== ==========
Servicing portfolio
(face value):
Domestic $ 601,576 $ 616,079
Latin America 1,614,533 2,475,093
Europe 1,154,890 1,035,833
---------- ----------
Total $3,370,999 $4,127,005
========== ==========
Number of personnel
at period end:
Domestic 101 68
Latin America 127 117
Corporate 35 37
---------- ----------
Total personnel 263 222
========== ==========
FirstCity Financial Corporation
Schedule of Unrealized Gross Profit
June 30, 2008
(Unaudited)
Basis in Portfolio Assets (1)
----------------------------------
($ in 000's) 12/31/2006 12/31/2007 6/30/2008
---------------------------------------------------------------------
Domestic $153,118 151,802 152,785
Europe 46,204 40,340 38,947
Latin America 22,378 26,844 38,576
----------------------------------
Total (4) $221,700 218,987 230,307
==================================
Estimated Remaining Collections (2)
----------------------------------
12/31/2006 12/31/2007 6/30/2008
----------------------------------
Domestic $215,987 195,845 213,511
Europe 61,081 52,617 50,483
Latin America 50,866 68,900 87,058
----------------------------------
Total $327,934 317,363 351,052
==================================
Unrealized Gross Profit (3)
----------------------------------
12/31/2006 12/31/2007 6/30/2008
----------------------------------
Domestic $ 62,869 44,043 60,726
Europe 14,877 12,278 11,537
Latin America 28,488 42,056 48,482
----------------------------------
Total $106,234 98,376 120,745
==================================
Unrealized Gross Profit %
----------------------------------
12/31/2006 12/31/2007 6/30/2008
----------------------------------
Domestic 29.1% 22.5% 28.4%
Europe 24.4% 23.3% 22.9%
Latin America 56.0% 61.0% 55.7%
Total 32.4% 31.0% 34.4%
A graphic accompanying this release is available at http://media.primezone.com/cache/9623/file/5942.pdf
12/31/2006 12/31/2007 6/30/2008
----------------------------------
FirstCity's consolidated Portfolio
Assets (as reported in "Portfolio
Assets" on the financial statement
of the respective Form 10-K or
10-Q) $108,696 122,001 147,840
Minority owners' interests in
FirstCity's majority-owned
Portfolio Assets (component of
"Minority interest" on the
financial statement of the
respective Form 10-K or 10-Q) (2,005) (4,474) (11,046)
FirstCity's interests in Portfolio
Assets held by equity investment
entities (included in the
"Condensed Combined Balance Sheets -
Assets" tabular disclosure under
the "Equity Investments" footnote
of the respective Form 10-K or
10-Q) 115,009 101,460 93,513
----------------------------------
$221,700 218,987 230,307
==================================
CONTACT: FirstCity Financial Corporation
Suzy W. Taylor
866-652-1810
|
| Symbol: |
FCFC |
| Last Trade: |
7.64
(11/20/2009 ET)
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| Change: |
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(-0.779222%)
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| Day's Range: |
7.33 -
7.64 |
| Open: |
7.33 |
| Previous Close: |
7.70 |
| TSO: |
9,871,000 |
| Market Cap: |
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| Day's Volume: |
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