Cash America Boosts 1Q Profit Estimates

FORT WORTH, Texas (AP) — Shares of payday lender Cash America International Inc. jumped 18 percent Thursday after the company said it expects to report that its first-quarter profit exceeded earlier estimates.

The improvement is due to better than expected performance from pawn lending operations in the United States and Mexico and lower losses on cash advances.

Shares jumped $3.10 to $20.37 in afternoon trading. They've traded between $11.60 and $48.86 in the past 52 weeks.

The profit estimate for the first quarter was revised to between 76 and 78 cents per share, up from previous expectations of between 61 and 65 cents per share.

Analysts polled by Thomson Reuters expect 63 cents per share.

The Fort Worth, Texas-based company reported profit of 86 cents per share for the first quarter of 2008.

Full-year 2009 guidance remained between $3.10 and $3.30 per share, pending the completion of details for the first quarter and further analysis of second-quarter expectations.