EZCORP, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2012; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2013
January 22, 2013 at 04:01 pm
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EZCORP, Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2012. For the quarter, total revenues were $277,126,000 against $248,873,000 for the same period a year ago. The increase in total revenue is partially attributable to mid-year fiscal 2012 acquisitions of controlling interests in Crediamigoand Cash Genie and the inclusion of 100% of their revenues in EZCORP's consolidated revenues. Net revenues were $175,352,000 against $154,028,000 for the same period a year ago. Operating income was $46,738,000 against $54,762,000 for the same period a year ago. Income before income taxes was $48,640,000 against $59,491,000 for the same period a year ago. Net income attributable to the company was $30,717,000 or $0.59 diluted per share against $39,352,000 or $0.78 diluted per share for the same period a year ago.
The company expects earnings per share for the second quarter of fiscal 2013 to be between $0.60 and $0.65.
The company affirms its fiscal 2013 earnings per share guidance of $2.55 to $2.80. The company expects its performance, in year-over-year comparison terms, to improve each quarter for the rest of fiscal 2013, and expects to return to year-over-year earnings growth in the latter half of the year.
EZCORP, Inc. is a provider of pawn transactions in the United States and Latin America. The Company also sells merchandise, primarily collateral forfeited from pawn lending operations and pre-owned and recycled merchandise purchased from customers. It operates through three segments: U.S. Pawn, Latin America Pawn, and Other Investments. The U.S. Pawn segment includes its EZPAWN, Value Pawn & Jewelry and other branded pawn operations in the United States. The Latin America Pawn segment includes its Empeno Facil, Cash Apoyo Efectivo (CAE) and other branded pawn operations in Mexico, as well as its GuatePrenda and MaxiEfectivo pawn operations in Guatemala, El Salvador, and Honduras (GPMX). At its pawn stores, it advances cash against the value of collateralized tangible personal property and sells merchandise to customers looking for good value. The merchandise it sells primarily consists of second-hand collateral forfeited from its pawn activities or merchandise purchased from customers.
EZCORP, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2012; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2013