- Total second quarter 2013 revenue was $39.4 million, a 23.0% increase from the prior-year period.
- Net income for the second quarter of 2013 was $6.7 million, a 0.5% increase from net income of $6.6 million in the prior-year period. Diluted earnings per share was $0.52 based on a diluted share count of 12.9 million.
- Finance receivables as of June 30, 2013 were $460.4 million, an increase of 33.3% from the prior-year period. Annualized net charge-offs as a percentage of average finance receivables for the second quarter of 2013 were 6.7%, an increase from 6.1% in the prior-year period.
- Same-store revenue growth 1 for the second quarter of 2013 was 17.2%. Same-store finance receivables growth for the second quarter of 2013 was 22.4%.
- Opened 29 de novo branches and acquired 2 branches in the second quarter of 2013; as of June 30, 2013, Regional Management’s branch network consisted of 263 locations.
- On May 14, 2013, Regional Management received an increase in the availability of the company’s senior revolving credit facility to $500 million from its previous amount of $325 million, with a maturity date of May 2016.
Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, today announced results for the second quarter and six-month period ended June 30, 2013. Second Quarter 2013 Highlights