Cash America Q1 Results Top Estimates; Backs FY14 View - Quick Facts

(RTTNews) - Specialty financial services firm Cash America International Inc (CSH) reported Thursday that its first-quarter net income attributable to the company increased to $45.74 million or $1.55 per share from last year's $43.93 million or $1.40 per share.

The latest results included $1.8 million in expenses primarily related to the early extinguishment of debt, which equates to 4 cents per share after taxes. Excluding this impact, adjusted net income attributable to the company would have been $46.9 million or $1.59 per share.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $1.52 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated total revenue increased 5 percent to $493.1 million from $468.1 million in the same period in 2013. Analysts estimated revenues of $468.12 million for the quarter.

Net revenue increased 8 percent to $295.0 million primarily due to lower loan losses in the company's online consumer loan portfolio.

Further, the company said its Board of Directors, at its regularly scheduled quarterly meeting, declared a $0.035 per share cash dividend. This will be paid on May 21 to shareholders of record on May 7.

Looking ahead for the second quarter, Cash America expects earnings per share will be between $0.85 and $0.95 per share, compared to $0.81 per share in the second quarter 2013. Analysts expect earnings of $0.90 per share for the quarter.

Further, the company maintained its previously reported expectations for its fiscal year 2014 earnings per share at a range of between $4.20 and $4.40, compared to 2013 earnings per share of $4.66. Analysts expect earnings of $4.51 per share for the year.