This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

QC Holdings, Inc. Reports Third Quarter Results

QC Holdings, Inc. (NASDAQ:QCCO) reported income from continuing operations of $2.1 million and revenues of $48.3 million for the quarter ended September 30, 2011. For the nine months ended September 30, 2011, income from continuing operations totaled $7.6 million and revenues were $138.1 million. The nine months ended September 30, 2011 includes $2.0 million in accrued costs ($1.2 million, net of income taxes) resulting from a tentative settlement of an outstanding legal matter.

“We were pleased to see revenue growth during the third quarter, largely driven by increases in our installment and title lending products,” said QC Chairman and Chief Executive Officer Don Early. “This improvement, however, was offset by a higher loss ratio quarter-to-quarter, largely due to the transition to new products in connection with recent changes in lending laws in several states.

“Entering 2011, we challenged our financial services field personnel to maintain operating margins despite negative consumer confidence and consumer spending headwinds. Through nine months of 2011, our store-level margins are essentially unchanged from prior year, indicative of the level of talent and commitment to excellence throughout our branch network.”

For the three months and nine months ended September 30, 2010, income from continuing operations totaled $2.9 million and $9.6 million, respectively, and revenues were $47.1 million and $136.3 million, respectively.

The three months and nine months ended September 30, 2011 and 2010 include discontinued operations relating to branches that were closed during each period. Schedules reconciling adjusted EBITDA to income from continuing operations for the three months and nine months ended September 30, 2011 and 2010 are provided below.

** Third Quarter **

The $1.2 million improvement in revenues quarter-to-quarter is attributable to higher installment and title loan volumes, as well as an increase in automotive revenues, partially offset by lower payday loan fees. The change in the mix of lending revenues in the company’s financial services branches is attributable to new lending legislation in various states, as well as the addition of complementary products in several other states.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.25 0.27%
FB $102.72 3.20%
GOOG $694.48 2.40%
TSLA $148.31 0.04%
YHOO $27.57 2.80%


Chart of I:DJI
DOW 16,054.92 +40.54 0.25%
S&P 500 1,868.28 +16.07 0.87%
NASDAQ 4,336.4220 +67.6590 1.58%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs