First Cash reports 11 percent increase in earnings per share.

ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 26, 1995--First Cash, Inc. (Nasdaq Stock Market: "PAWN") Tuesday reported operating results for the quarter and fiscal year ended July 31, 1995.

For the fourth quarter of its 1995 fiscal year, the Company's net income reached $248,000, or $0.07 per share compared with $238,000 (also $0.07 per share) in the prior-year period. Earnings during the fourth quarter of the prior fiscal year included a one-time reduction in operating and administrative expenses, which increased fourth quarter 1994 net income by $343,000.

Exclusive of this recovery, the Company experienced a net loss for the fourth quarter of fiscal 1994 of $105,000, or $0.03 per share, compared to net income of $248,000, or $0.07 per share, during the fourth quarter of fiscal 1995.

Revenues during the three-month period ended July 31, 1995 reached a record $8,717,000, approximately 49 percent above the prior year's fourth quarter revenues of $5,858,000. Same store revenues for the most recent quarter increased 9.7 percent to $5,202,000 vs. $4,740,000 during the fourth quarter of fiscal 1994.

The 16 stores (net of one store consolidated) added since May 1, 1994 contributed revenues of $3,515,000 in the fourth quarter of fiscal 1995.

Same-store revenues increased 6.3 percent during FY 1995, to $20,216,000, as compared with $19,018,000 in the previous year. The Company added 17 stores during FY 1994 and 1995 (net of one store sold and another store consolidated), which provided revenues of $11,968,000 during the fiscal year just ended.

For the year ended July 31, 1995, First Cash, Inc. earned $1,100,000, vs. $1,015,000 in fiscal year 1994, an 8.3 percent gain in net income. Revenues increased to $32,184,000 from $20,583,000, a 56.4 percent gain.

Earnings per share (after payment of preferred dividends in the prior fiscal year) increased 11 percent to $0.30 on 3,719,000 weighted average shares outstanding, vs. $0.27 per share on a weighted average share count of 3,792,000 in the prior fiscal year.

Earnings during the prior fiscal year included a $131,000 non-recurring income tax benefit related to the amortization of intangibles, in accordance with federal tax legislation enacted in August 1993.

Exclusive of this one-time benefit and the $343,000 increase in net income related to the one-time reduction in operating and administrative expenses in the prior fiscal year, current year earnings increased 103.3 percent to $1,100,000 ($0.30 per share) vs. $541,000 ($0.14 per share) in fiscal 1994.

The Company's pawn loans increased 25.1 percent, from $7,320,000 at July 31, 1994 to $9,158,000 at July 31, 1995. Same-store loan portfolios expanded by 7.8 percent to $7,894,000 (vs. $7,320,000), while the seven new stores added by the Company during FY 1995 provided an additional $1,264,000 in pawn loans.

Rick Powell, Chief Executive Officer of the Company, noted that "during fiscal 1995 the Company began to realize significant economies of scale in terms of its management, supervisory and administrative functions. We were able to increase revenues 56 percent while limiting store operating expenses to an increase of 45 percent.

"July 1995 represented the fourth consecutive month of extremely strong revenue performance, during a summer season that is traditionally the weakest season of the year in our industry.

"The Company's strong performance during fiscal 1995 was enhanced by our efforts in the areas of improved staff training programs, lower store to supervisor ratios and creative merchandising techniques such as tent and sidewalk sales and other promotions.

"During the past year we have concentrated in particular on upgrading personnel in some key areas, increasing our loan base and interest collections and improving our inventory turnover ratio. We also improved our margins on sales from 32 percent in the prior year to 34 percent in the year just ended."

First Cash, Inc. is engaged in the acquisition, establishment and operation of pawn stores, which lend money on the collateral of pledged personal property and retail previously-owned merchandise acquired through loan forfeitures. The Company currently operates 43 stores in Texas, Oklahoma, Maryland, and Washington, D.C. Its common stock is traded on the Nasdaq Stock Market under the ticker symbol "PAWN." -0-

                      SELECTED OPERATING INFORMATION
                      ------------------------------
               (in thousands, except earnings per share)

                                    Three Months Ended July 31
                                    --------------------------
                                         1995         1994
                                       -------      -------
   Revenues:
     Merchandise sales                 $ 5,722      $ 3,433
     Pawn service charges                2,968        2,394
     Other                                  27           31
                                       -------      -------
                                         8,717        5,858
   Cost of goods sold
    and expenses                         8,376        5,468
                                       -------      -------
   Income before income taxes              341          390
   Provision for income taxes               93          152
                                       -------      -------
   Net income                          $   248      $   238
                                       -------      -------
   Earnings per common share           $   .07      $   .07
                                       -------      -------
   Weighted average common
    shares outstanding                   3,679        3,631

                                        Year Ended July 31
                                        ------------------
                                         1995         1994
                                       -------      -------
   Revenues:
     Merchandise sales                 $20,709      $12,174
     Pawn service charges               11,298        8,279
     Other                                 177          130
                                       -------      -------
                                        32,184       20,583
   Cost of goods sold
    and expenses                        30,492       18,986
                                       -------      -------
   Income before income taxes            1,692        1,597
   Provision for income taxes              592          462
                                       -------      -------
   Net income                            1,100        1,135
   Less dividends on preferred stock        --          120
                                       -------      -------
   Net income attributable to
    common stock                       $ 1,100      $ 1,015
                                       -------      -------
   Earnings per common share           $   .30      $   .27
                                       -------      -------
   Weighted average common
    shares outstanding                   3,719        3,792

CONTACT: First Cash Inc., Arlington

Dawn Cade, Shareholder Relations, 817/460-3947 or

Rick Wessel, Chief Financial Officer, 817/460-3947