Cash America International Q4 Earnings From Cont. Opns Surges

(RTTNews) - Cash America International, Inc. (CSH) Thursday announced a sharp fall in fourth quarter net income attributable to the company of $12.612 million from $22.014 million last year. On a per share basis, earnings were 0.49, down from $0.75 last year. In the prior year, the company had recorded spin off income from Enova International $0.50 per share. On an adjusted basis, earninsg were $14.302 million for $0.55 per share. Earnings from continuing operations climbed to $0.49 from $0.26 per share last year.

On average, 7 analysts polled by Thomson Reuters expected the company to earn $0.48 per share. Analysts estimates usually exclude special items.

Net revenue for the quarter were slighty down at $151.1 million, compared to $151.73 million last year. Wall Street was looking for $284.75 million.

Looking ahead to the first quarter of 2016, the company expects pawn loan balances and merchandise sales to be affected, due to seasonal factors, by the Federal Income Tax refunds that its customers receive. However, it expects growth in the pawn lending business, but at moderate levels for the first half of 2016.

Management expects net income per share for the first quarter to be between 35 cents and 41 cents per share, compared to net income from continuing operations of 27 cents per share in the first quarter of 2015. The company say, excluding the $0.5 million of after-tax expense items incurred in the first quarter of 2015, adjusted net income from continuing operations, would have been $8.4 million, or 29 cents per share, for the first quarter of 2015.

Street expects $0.34 per share on revenue of $272.52 million.

For the fiscal 2016, the company expects to generate net income per share from continuing operations to be between $1.25 and $1.45. In the prior year, the company had recorded net income from continuing operations of $1.01 per share. Analysts expects $1.36 per share on revenue of $1.08 billion.