EZCorp Inc. Sees Earnings Vastly Increase, Payday Loan Business Take Off
By J.J. CameronPayday Loan Writer
While payday loan reform is gaining momentum is states such as Oregon, companies that specialize in these cash advances are still seeing significant profits.
EZCorp Inc., for example, is expecting great things. The company anticipates that earnings for its second quarter of fiscal 2006, which ended March 31, will be significantly higher than previously expected.
According to EZCorp, the online payday loan company will likely have earnings of 54 cents to 56 center per share, compared with its previously announced guidance of 40 cents to 43 cents per share. The change in guidance stems from a quarter in which EZCorp realized strong growth in sales gross profit and signature loan contribution, according to the company.
The business provides pawn loans collateralized with personal property, as well as cash loans. The company also sells merchandise, primarily forfeited from pawn operations.
