Element Financial reported that record origination levels contributed to revenue of $19.6 million, operating income of $5.4 million for the three month period ending September 30, 2012.

Element said new originations reached an all-time high of $219.7 million during the three-month period ended September 30, 2012, versus new origination of $34.3 million for the same period of 2011. New originations on a year-to-date basis were $455.7 million, an increase of $378.8 million or 492% compared to new originations of $76.9 million for the comparative period of 2011.

Of the $219.7 million of new originations booked in the third quarter, Element Finance contributed $86.7 million or 39.4%, Element Capital contributed $82.1 million or 37.4% and Element Fleet contributed $50.9 million or 23.2%

Total revenue was $19.6 million for the three-month period versus $3.7 million for the same period last year. Total revenue was $34.3 million for the nine-month period ended September 30, 2012 versus $5.6 million for the same period last year.

During the period, Element completed the integration of the operations of TLS Fleet Management which the company acquired on June 29, 2012 adding more than $460 million of lease assets to Element’s portfolio at the end of the previous quarter.

“With all three of Element’s business verticals now contributing to origination volumes, and the seasonally slowest period for our fleet management business now behind us, these strong Q3 results offer a first look at the new base line from which we expect to continue to build Element’s quality earnings growth,” said Steven Hudson, Element’s chairman and CEO.

“What has yet to be reflected in these results is the added potential to generate high quality assets from Element’s increased focus on developing comprehensive vendor finance programs for major North American equipment manufacturers,” said Hudson. “As we continue to scale the business, we expect earnings growth to be supplemented as additional leverage is applied to our balance sheet and SG&A is spread over a broader base of net finance income,” he added.

To read the Element Financial news release click here.