Cash America Reports a 31% Increase in Third Quarter Net Income Per Share from Continuing Operations and Declares … (Business Wire via Yahoo! Finance)(Cash Before Payday)
Excluding the gain from the sale, the Company generated a 31% increase in earnings per share as net income increased to $16,560,000 (55 cents per share) during the third quarter 2007 compared to $12,941,000 (42 cents per share) reported in the same period of 2006. Also contributing to the increase in total revenue was a 14% increase in revenue related to pawn lending operations, including a 23% increase in sales from the disposition of merchandise and a 5% increase in fees and service charges on pawn loans. For the first nine months of fiscal year 2007, Cash America produced a 30% increase in net income excluding one-time gains, of $49,003,000 ($1. Based on its views and expectations related to the preceding factors management expects that the fourth quarter 2007 net income per share will be between 84 and 94 cents per share compared to 71 cents per share in the fourth quarter 2006. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 495 locations in 22 states under the brand names Cash America Pawn and SuperPawn. Learn more
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