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In TO456 sent today at 18:19e an error occurred in paragraph 5, line 2. "...expected to be reported at
$348.0 million, an increase of 4.8% over last year," should read: "expected to be reported at
$348,000, an increase of 4.8% over last year." Corrected copy follows:
Cash Store Financial Provides Fiscal Year Financial and Corporate Update
Complete 2013 financial results to be released in late December Cash Store Conference Call DetailsTuesday, November 5, 2013 at
11:30 am EST (
9:30 am MST) 1-888-231-8191 ID#92540656
Nov. 4, 2013 /PRNewswire/ - Following the completion of the Company's 2013 fiscal year on
September 30, 2013, The Cash Store Financial Services Inc. ("Cash Store Financial") (TSX: CSF; NYSE: CSFS) today provided a financial and operations update to shareholders. The Company's complete audited financial statements, including its Management Discussion and Analysis, are expected to be released before the end of December.
"We committed to providing investors with an update on our performance in advance of releasing our fiscal 2013 results. We look forward to discussing this update with investors on our conference call on
November 5," said Mr.
Gordon Reykdal, CEO.
Total revenue for the fourth quarter is expected to be reported at
$47.7 million in fiscal 2013 compared to
$46.3 million in the third quarter of 2013 and
$50.8 million for the fourth quarter of fiscal 2012. Loan volume was
$199.8 million in the fourth quarter of fiscal 2013, compared to
$192.2 million in the third quarter of this year and
$207.2 million in the fourth quarter of fiscal 2012.
Total revenue for the year ended
September 30 is expected to be reported at
$190.2 million in 2013, up from
$187.4 million for fiscal 2012. Loan volume for the year was
$781.8 million in 2013, down from
$797.7 million one year earlier.
Same branch revenue for the fourth quarter, calculated on the branches in
Canada that were open for both FY2013 and FY2012, are expected to be reported at
$348,000, an increase of 4.8% over last year.
"We have ambitious priorities for fiscal 2014," Mr. Reykdal said. "We will continue to rollout the suite of line of credit products that we have begun introducing to the market, look to increase our ancillary revenue through enhanced and new product offerings, improve the financial performance of our UK operations, reduce corporate expenses and improve credit quality."