Payday Loan Company Announces Third Quarter Earnings
By J.J. CameronPayday Loan Writer
As previously reported, entering into the payday loan world has been a good business decision for EZCORP, Inc. This fact was emphasized today when results for its third fiscal quarter, which ended June 30, were announced.
For the period, EZCORP's net income increased 163% to $5,608,000 ($0.40 per share) compared to $2,129,000 ($0.16 per share) for the quarter ended June 30, 2005. Total revenues for the third fiscal quarter increased 31% to $73,786,000 while operating income improved 155% to $8,040,000.
Overall, the instant payday loan company has 288 EZMONEY locations and 82 EZPAWN locations across the country. It specializes in short-term, non-collateralized loans, often referred to as payday loans, or fee based credit services to customers seeking loans.
President and Chief Executive Officer, Joe Rotunda, stated:
"We continue to be pleased with our strong momentum and the continuation of our five-plus year trend of growing our earnings and profitably expanding our business. Our fiscal third quarter is the 16th consecutive quarter of year-over-year earnings growth. This quarter we increased earnings 163% over the prior year quarter.
We are especially pleased with the strong performance of our pawn operation as well as the continued strong performance of our signature [faxless payday loan] business."
