Cash America Announces Second Quarter Results and Dividend Declared

Cash America International, Inc. (NYSE: CSH) announced today that net income for the second quarter of 2016 was $2,098,000 (8 cents per share) compared to net income of $2,071,000 (8 cents per share) for the second quarter of 2015. Included in the second quarter of 2016 results are $3.7 million of expenses before taxes related to the proposed merger with First Cash Financial Services, Inc., which is $2.3 million, or $0.10 per share, after taxes. Adjusted net income, a non-GAAP measure, for the second quarter of 2016 was $4,417,000 (18 cents per share), which is at the high end of the Company’s published guidance of expected net income per share of between 12 cents and 18 cents per share as provided in its press release dated April 28, 2016. Included in the reported net income for the second quarter of 2015 is a net benefit of $0.5 million, which is $0.3 million, or 2 cents per share, after taxes from a gain on the disposition of equity securities and a loss on the early extinguishment of debt. Excluding this additional income from the reported results for the second quarter of 2015, adjusted net income, a non-GAAP measure, was $1.7 million (6 cents per share) which compares to adjusted net income per share of $4.4 million (18 cents per share) for the second quarter of 2016 for an increase of 200%.... Read more

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