Lower Loan Loss Rates Mean Bigger Earnings Than Expected For Cash America International
By Desmond CarlislePayday Loan Writer
Cash America International, Inc., announced expected earnings of more than its initial estimates, according to a news release. In the first quarter of 2006, the company experienced higher levels of retail sales and stronger profit margins, due in large part lower loan loss rates from its cash advance portfolio than it had anticipated.
According to the news release, the company now expects first quarter earnings of more than it previously announced. Its management anticipates earnings per share of between 49 and 50 cents per share for the first quarter of 2006, a significant rise from the 39 cents per share garnered in the first quarter of 2005. Previous projections for growth in this financial quarter where between 43 and 45 cents per share.
Cash America International will disclose its full financial results for the first quarter (which ended March 31, 2006), on April 27. A revised outlook for the remainder of the year will then be issued. The financial services firm has 886 total locations in the united states. One of the largest providers of secured loans to individuals, commonly referred to as payday loans, in 21 states, the agency uses brand names such as Cash America Pawn, Cash America Payday Advance, Mr. Payroll and Cashland.
