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EZCORP Reports 17% Increase In Net Income

AUSTIN, Texas April 19, 2012 $37.3 million $0.73 Mexico United Kingdom $2.0 million $0.03

http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO

$2.85 to $2.95

Paul Rothamel

March 31, 2012

  • $37.3 million
  • $0.73
  • $256.3 million
  • $161.6 million
  • $55.7 million
  • $219.1 million $156.5M
  • $47.5 million $132.4 million $94.6 million

March 31, 2012

  • Canada
    • $229.4 million
    • $134.9 million
    • $50.5 million
    • $42.8 million
    • Consumer loan bad debt as a percentage of fees improved 45 bps to 14%.
    • $64.9 million
    • $108.8 million
    • $142.9 million
  • Latin America
    • $26.7 million
    • $13.3 million
    • $5.9 million
    • $7.4 million
    • Consumer loan bad debt as a percentage of fees was 7%.
    • $1.3 million
    • $6.9 million $0.2 million March 31, 2012

Growth Drivers

  • Canada
    • Canada
    • April 13 Minneapolis
    • Canada
  • Latin America
    • Empeno Facil opened 13 stores during the quarter and 27 for the first half, bringing total store count to 205.  Of these, 153 are full size, full service stores.
    • Monterrey, Mexico Mexico
    • January 30, 2012 $1,200 March 31, 2012 $68.4 million $94.6 million
    • April 13 Ipswich, England the Philippines Finland $120 to $1,200 $230 $17.6 million

Company Outlook

Mexico Canada Mexico Australia Canada

About EZCORP

Mexico Canada

Mexico

Special Note Regarding Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the Company’s expected operating and financial performance for future periods, including expected future earnings and growth rates.  These statements are based on the Company’s current expectations.  Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including changes in the regulatory environment, changing market conditions in the overall economy and the industry, fluctuations in gold prices or the desire of our customers to pawn or sell their gold items, and consumer demand for the Company’s services and merchandise.  For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission.

Use of Non-GAAP Financial Measures

December 31

[email protected]
www.ezcorp.com

EZCORP, Inc.

Highlights of Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data and percents)

Three Months Ended March 31,

Six Months Ended March 31,

2012

2011

2012

2011

Revenues:

    Merchandise sales

$      94,997

$      77,773

$    181,891

$    149,653

    Jewelry scrapping sales

53,175

47,995

109,578

98,660

    Pawn service charges

56,444

46,769

116,236

96,579

    Consumer loan fees

50,319

40,472

95,407

86,782

    Other

1,343

245

2,039

406

        Total revenues

256,278

213,254

505,151

432,080

Cost of goods sold:

    Cost of merchandise sales

55,880

44,639

104,276

85,950

    Cost of jewelry scrapping sales

32,310

31,925

67,734

64,180

        Total cost of goods sold

88,190

76,564

172,010

150,130

Bad debt:

    Consumer loan bad debt

6,466

5,740

17,491

16,768

Net revenue

161,622

130,950

315,650

265,182

Operations expense

77,269

66,045

151,770

130,549

Administrative expense

21,353

15,733

41,064

41,871

Depreciation and amortization

7,259

4,466

12,514

8,645

(Gain) / loss on sales / disposal of assets

27

(178)

(174)

(171)

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