Cash Advance Company Announces Second Quarter Profits
By J.J. CameronPayday Loan Writer
Cash America International has been very busy. The cash advance company recently announced the purchase of CashNetUSA, as it looks to expand into the world of online payday loans.
Furthermore, the firm revealed earnings expectations for the second quarter that ended June 30 - they'll exceed the company's previously released guidance and be higher than security analysts' published estimates. The basis for this news? Greater revenue growth and profit margins from the retail disposition of merchandise; along with an increase in service charges on pawn loans and online cash loans.
Cash America had previously reported in its earnings release for the first quarter of 2006 that it expected second quarter 2006 earnings per share to be between 26 cents and 28 cents. But the updated numbers for the second quarter is 30 to 31 cents per share, up from 23 cents per share in the second quarter of 2005.
The future looks solid for this cash advance payday loan company.
