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AUSTIN, Texas, June 16, 2014 (GLOBE NEWSWIRE) -- EZCORP, Inc. (Nasdaq:EZPW), a leading provider of easy cash solutions for consumers, today announced its outlook for the second half of fiscal year 2014, and noted that it will provide estimates for earnings per share on both a quarterly and an annual basis going forward.
For the second half of fiscal year 2014, the company expects earnings per share in the range of $0.60 to $0.64 compared to a loss of $(0.57) for the second half last year. On a non-GAAP basis, these expected results represent second half earnings growth of more than 80%. This guidance is in line with the business outlook the company has previously provided. Please see the attached chart for a reconciliation between the company's non-GAAP and GAAP results and expectations.
The company expects earnings per share in the range of $0.20 to $0.22 for the third quarter (ending June 30), and $0.40 to $0.42 for the fourth quarter (ending September 30). On a non-GAAP basis, the fourth quarter expected results compare to $0.09 last year, up over 300%. These results are expected to be driven by improving trends in the company's pawn and financial services loan metrics in the U.S. and Mexico, continued strong retail sales in the U.S., and improving overhead expense trends at the consolidated level.
The company estimates that its earnings per share outlook for the fourth quarter of fiscal 2014 may be reduced by $0.02 to $0.03 if it successfully completes the convertible debt offering that was announced simultaneously with this release.
The company provides supplemental information on its website. For a reconciliation of EZCORP's last six fiscal quarters GAAP and adjusted EPS results, please see "Investor Resources & Supplemental Information" at http://investors.ezcorp.com/.About EZCORP
EZCORP, Inc. is a leader in delivering easy cash solutions to our customers across channels, products, services and markets. With approximately 7,500 team members and approximately 1,400 locations and branches, we give our customers multiple ways to access instant cash, including pawn loans and consumer loans in the United States, Mexico, Canada and the United Kingdom. We offer these products through four primary channels: in-store, online, at the worksite and through our mobile platform. At our pawn and buy/sell stores and online, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.