This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cash America Announces Third Quarter Results And Dividend Declared

Cash America International, Inc. (NYSE: CSH) announced today that reported net income attributable to the Company for the third quarter ended September 30, 2013 was $46,186,000 ($1.52 per share) compared to the third quarter of 2012 net income of $11,703,000 (37 cents per share). Both the current period third quarter financial results and the prior year third quarter financial results include significant unusual items. In the third quarter of 2013, the Company recognized a tax benefit of $33.2 million ($1.09 per share) related to the reorganization of its Mexico-based pawn operations, which was completed in the first quarter of 2013. In addition, the Company incurred an $18 million pre-tax expense (37 cents per share after taxes) associated with a negotiated settlement of a class-action lawsuit. These two items combined to create a net benefit to after tax income of $21.9 million (72 cents per share) for the period ended September 30, 2013. The third quarter of 2012 included unusual items of $18.5 million in after-tax costs (59 cents per share) associated with the Company’s reorganization of its Mexico-based pawn operations and $1.9 million after taxes (6 cents per share) related to the write-off of deferred costs and transition expenses associated with the withdrawal of the proposed initial public offering of its wholly-owned subsidiary, Enova International, Inc., during that period. These two items combined to create a total expense after taxes of $20.4 million (65 cents per share) for the period ended September 30, 2012.

Excluding the impact of the 2013 unusual items mentioned above, third quarter 2013 adjusted earnings, a non-GAAP measure, would have been $24.3 million (80 cents per share), which is in line with management’s publicly released earnings per share guidance of between 75 cents per share and 85 cents per share as reported in the Company’s press release dated July 25, 2013. Excluding the impact of the 2012 unusual expenses mentioned above, third quarter 2012 adjusted earnings, a non-GAAP measure, would have been $32.1 million ($1.02 per share).

1 of 7

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,703.99 -72.13 -0.41%
S&P 500 2,059.68 -8.21 -0.40%
NASDAQ 4,870.9730 -29.9120 -0.61%

Partners Compare Online Brokers

Free Reports

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