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Ezcorp 1Q results top views, shares jump

January 28, 2014

The Associated Press

Ezcorp Inc. said Tuesday that its first-quarter net income fell 27 percent from a year ago as costs rose, but the pawn shop operator's adjusted earnings beat Wall Street expectations. Shares of Ezcorp jumped $1.55 , or 17 percent, to $10.90 in after-hours trading. They closed regular-session trading down 58 cents at $9.35 Tuesday. The Austin, Texas -based company said its net income fell to $22.6 million , or 42 cents per share, in the three months ending Dec. 31 . That compares with net income of $30.7 million , or 59 cents per share, in the same quarter a year ago. Adjusted to remove one-time charges, the company reported earnings of 49 cents per share. Analysts expected earnings of 38 cents per share, according to FactSet. Revenue fell 1 percent to $269.4 million in the first quarter from $272.7 million in the same period a year ago. Analysts expected revenue of $257.5 million . The company said that sales at stores open at least a year rose 8 percent from the same quarter a year ago. That measure is considered a key indicator a retailer's financial health because it strips away the impact of recently opened or closed stores. Ezcorp runs about 1,400 locations that offer pawn and consumer loans in the U.S., Mexico , Canada and the United Kingdom .


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Source: Associated Press


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