ePlus reported that its financing business segment revenues in the fourth fiscal quarter were $7.5 million, down from $8.0 million in the same year-ago quarter. The company said it recorded a pre-tax loss of $0.92 million in the fourth quarter, compared to pre-tax earnings of $2.6 million in the same year-ago quarter, as a result of a reserve for credit losses charge of $2.9 million relating to one specific customer that recently filed for bankruptcy.

ePlus noted that its investments in leases and notes receivable increased from $123.5 million on March 31, 2011, to $140.3 million on March 31, 2012.

For the full fiscal year ended March 31, 2012, financing business segment revenues were $33.2 million, down 12.3% from $37.8 million in the previous fiscal year. Pre-tax earnings of $8.1 million were off 41.5% from $13.8 million in fiscal 2011. The company noted that the increase in its reserve for credit losses

Commenting on the financing business segment, Phillip G. Norton, CEO, said,
“We are focused on growing the business and hiring additional sales resources, and are developing new product offerings to capture market opportunities.”