Printer Friendly

EZCORP ANNOUNCES EARNINGS

                    EZCORP ANNOUNCES EARNINGS
    AUSTIN, Texas, Nov. 15 /PRNewswire/ -- EZCORP, Inc. (NASDAQ: EZPW)


announced today that net income for the year ended Sept. 30, 1991 was $1,106,147, or $.21 per share. Net income increased $1,149,472 from a net loss of $43,325, or $.11 loss per share, in the prior comparable 12 month period.
    For the fourth quarter ended Sept. 30, 1991, net income was $299,449, or $.05 per primary and fully diluted share, vs. $245,525, or $.07 per primary share and $.05 per fully diluted share, for the comparable quarter ended Sept. 30, 1990.
    Total revenues for the year ended Sept. 30, 1991 were $23,844,514 vs. $14,730,622 in the prior 12 month period, an approximate increase of 62 percent.  For the year, loan growth for stores in existence at least two years was approximately 17.5 percent.
    The company further announced that its expansion is continuing as planned with 57 stores operating as of Sept. 30, 1991 and 65 stores currently.
    EZCORP, Inc. is engaged in establishing, acquiring and operating pawnshops and is the second largest operator of pawnshops in the United States.
                          EZCORP, INC.
                         Financial Data
     Balance Sheet Data as of Sept. 30, 1991:
    Pawn loans                             $ 6,916,578
    Inventory                                7,016,037
    Working capital                         33,345,315
    Total assets                            45,850,984
    Long-term debt                           2,937,534
    Stockholders' equity                    40,059,430
     Other Data for the Year Ended Sept. 30, 1991:
    Pawnshops owned at end of period               57
    Redemption rate (pct.)                       74.2
    Average annual inventory turnover             2.0x
    Average inventory per store            $  123,088
    Gross profit as a percent of sales           26.2
    Average loans per store:
     Established (more than 2 years)       $  191,190
     New (1 to 2 years)                       143,384
     New (Less than 1 year)                    73,687
    Average annual yield on loan
     portfolio (pct.)                             222
    Same store loan growth rate
     (stores greater than 2 years
      old) (pct.)                                17.5
     Periods ended         4th Quarter                Year
     Sept. 30;                1991                    1991
    Sales                  $ 3,579,964             $12,912,263
    Pawn service
     charges                 3,505,193              10,932,251
    Total revenues           7,085,157              23,844,514
    Cost of goods
     sold                    2,737,501               9,533,307
    Gross profit on
     revenues                4,347,656              14,311,207
    Store operating
     expenses                2,561,887               8,468,225
    Corporate
     administrative
     expenses                  985,403               3,111,665
    Depreciation and
     amortization              207,559                 602,864
    Net income                 299,449               1,106,147
    Primary and fully
     diluted earnings
     per common share
     before extraordinary
     credit                $       .05             $      .20
    Extraordinary credit (A)        --                    .01
    Primary and fully
     diluted earnings
     per common share      $       .05             $      .21
    (A) -- Reduction of income taxes arising from carryforward of prior period operating loss.
    -0-         11/15/91
    /CONTACT:  Gary Kofnovec of EZCORP, 512-476-6677/
    (EZPW) CO:  EZCORP Inc. ST:  Texas IN: SU:  ERN FC -- NY024 -- 1431 11/15/91 10:11 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 15, 1991
Words:475
Previous Article:MEDICAL GRAPHICS RECEIVES PATENT APPROVALS ON TWO DISPOSABLE PRODUCTS
Next Article:ROYAL INSURANCE ANNOUNCES NINE MONTH 1991 RESULTS


Related Articles
EZCORP ANNOUNCES EARNINGS
THIRD QUARTER EARNINGS OF EZCORP
THIRD QUARTER EARNINGS OF EZCORP
EZCORP Invites You to Listen to Its Fiscal 2003 First Quarter Earnings Announcement and Conference Call on the Web.
EZCORP Invites You to Listen to Its Fiscal 2003 First Quarter Earnings Announcement and Conference Call on the Web.
EZCORP Invites You to Listen to Its 2002 Fourth Fiscal Quarter and Fiscal Year Earnings Announcement and Conference Call on the Web.
EZCORP Invites You to Listen to Its 2002 Fourth Fiscal Quarter and Fiscal Year Earnings Announcement and Conference Call on the Web.
EZCORP Presents at Roth Capital Partners New York Conference.
EZCORP to Present at Brean Murray Small Cap Institutional Investor Conference.
EZCORP to Present at the Roth Capital Partners 18th Annual Growth Stock Conference.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters