This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

QC Holdings, Inc. Reports Third Quarter Results

Stocks in this article: QCCO

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs