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FIRST CASH ANNOUNCES ACQUISITION AND RECORD QUARTERLY RESULTS

    FIRST CASH ANNOUNCES ACQUISITION AND RECORD QUARTERLY RESULTS
    FORT WORTH, Texas, Nov. 26 /PRNewswire/ -- Rick Powell, president of First Cash (NASDAQ: PAWN), reports the acquisition of the company's first store, along with an option for a second store, in Tyler, Texas. The store and option were acquired with a combination of cash and stock. Further terms were not disclosed.
    In addition, Powell reported earnings for the first quarter were up 104 percent to $57,710 or $.04 per share on 1,645,000 shares vs. $28,233 or $.04 per share on 700,000 shares.  Revenues were up 72 percent to $795,376 from $460,226 in the same quarter last year.  Results were based on six stores in operation at the end of last years quarter, vs. eight stores this year.
    Powell stated, "With the addition of the two Oklahoma City stores announced three weeks ago, the recent start-up of a Dallas store and the acquisition of the Tyler store, now expands First Cash's exposure to three cities and two states with a total of 12 stores in operation, twice the number we had at the time of our initial public offering six months ago."
    Powell went on to say, "Though we do anticipate additional stores this quarter, based on just these 12 stores alone, a marked increase over these first quarter results should be expected in the current quarter."
    First Cash is the third largest publicly held pawn shop chain in the country.
    -0-         11/26/91
    /CONTACT:  Rick Powell, president, or Maryann Jost of First Cash, 817-625-2274/
    (PAWN) CO:  First Cash, Inc. ST:  Texas IN:  REA SU:  ERN SH -- NY051 -- 7334 11/26/91 13:16 EST
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Publication:PR Newswire
Date:Nov 26, 1991
Words:280
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