World Acceptance Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017
January 26, 2018 at 07:30 am
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World Acceptance Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported, interest and fees of $123,259,000, total revenues of $136,934,000, income before taxes of $15,292,000, net income of $1,680,000, compared to interest and fees of $118,257,000, total revenues of $130,815,000, income before taxes of $14,320,000, net income of $9,641,000, for the same period a year ago. Diluted earnings per share were $0.19 against $1.10 a year ago. Return on average assets trailing months was 6.5% against 8.4% a year ago. Return on average equity trailing months was 12.1% against 17.6% a year ago.
For the year to date, the company reported, interest and fees of $357,292,000, total revenues of $396,849,000, income before taxes of $52,527,000, net income of $24,547,000, compared to interest and fees of $349,282,000, total revenues of $387,164,000, income before taxes of $65,273,000, net income of $41,749,000, for the same period a year ago. Diluted earnings per share were $2.76 against $4.75 a year ago. Return on average assets trailing months was 6.5% against 8.4% a year ago. Return on average equity trailing months was 12.1% against 17.6% a year ago.
World Acceptance Corporation is a people-focused finance company that provides personal instalment loan solutions and personal tax preparation and filing services. The Company generally serves individuals with limited access to other sources of consumer credit such as banks, credit unions, other consumer finance businesses and credit card lenders. The Company, as an agent for an unaffiliated insurance company, markets and sells credit life, credit accident and health, credit property and auto, unemployment, and accidental death and dismemberment insurance in connection with its loans in selected states where the sale of such insurance is permitted by law. It offers automobile club memberships to its borrowers in Alabama, Georgia, Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, Texas, South Carolina, Utah and Wisconsin, as an agent for an unaffiliated automobile club. The Company operates more than 1,000 community-based branches across 16 states.