Payday Loan Company Raises Expectations for Third Quarter Profits
By J.J. CameronPayday Loan Writer
EZCorp Inc., a payday loan operator based in Austin, has raised its earnings guidance for the third quarter of fiscal 2006.
The company now expects quarterly earnings of 35 cents to 37 cents per share, compared with previous earnings guidance for the quarter being between 20 cents to 23 cents.
During this time period, the payday loan company realized stronger than expected sales profit - primarily due to higher gold values - and a lower than expected earnings drag from new store openings.
Nationwide, EZCorp opened 25 stores during the third quarter. 100 more openings are planned during this fiscal year, pushing much of the new store earnings drag into the fiscal fourth quarter.
Finally, the business has also raised its earnings guidance for fast cash advance firm will release earnings for its third fiscal quarter in full on July 25.
