- Commenced trading on the New York Stock Exchange on March 28 under the ticker symbol RM.
- Total first quarter 2012 revenue was $31.5 million, a 27.7% increase from the prior-year period.
- GAAP net income for the first quarter of 2012 was $5.1 million, a 3.8% increase from the prior-year period, and diluted earnings per share was $0.53 based on a diluted share count of 9.6 million. On a pro-forma basis, excluding one-time initial public offering expenses and applying proceeds from the IPO to reduce outstanding debt, net income for the first quarter of 2012 was $6.8 million, a 37.1% increase from the prior-year period, and diluted earnings per share was $0.53 based on a diluted share count of 12.7 million.
- Finance receivables as of March 31, 2012 were $317.5 million, an increase of 33.3% from the prior-year period. Net charge-offs as a percentage of average finance receivables for the first quarter of 2012 were 6.4%, consistent with the prior-year period.
- Same-store revenue growth 1 for the first quarter of 2012 was 11.2%.
- Completed acquisition of the assets of two consumer loan companies in Alabama, adding 19 net new branches to Regional Management.
- Obtained license to operate in New Mexico in April 2012 and plan to open first branch in May; will then operate branches in seven states.
Regional Management Corp. Announces First Quarter 2012 Results
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