Cash America Announces Increase in Third Quarter Earnings and Declares Dividend

Cash America International, Inc. (NYSE: CSH) announced today that net income from continuing operations for the third quarter of 2015 was $5,038,000 (19 cents per share) compared to a net loss from continuing operations of $9,370,000 (loss of 32 cents per share) for the third quarter of 2014. Included in the prior year’s reported net income from continuing operations for the third quarter of 2014, was a loss on the divestiture of non-strategic operations, a loss on early extinguishment of debt, and severance and other employee-related costs for administrative and operations staff reductions, which in aggregate reduced net income by $17.3 million before taxes ($14.1 million, or 48 cents per share, after taxes). When excluding these expenses in the prior year, adjusted net income from continuing operations, a non-GAAP measure, for the third quarter of 2014 was $4.7 million (16 cents per share). Net income per share from continuing operations for the third quarter of 2015 of $0.19 is up 19% compared to the adjusted net income per share from continuing operations for the third quarter of the prior year of $0.16 and is near the top of the Company’s published guidance range of between $0.17 and $0.20 as indicated in its press release dated July 30, 2015.... Read more

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