First Cash Financial Services Q4 Profit Up

(RTTNews) - First Cash Financial Services Inc. (FCFS), a retail pawn stores operator, Tuesday announced a fourth quarter net income of $26.94 million, up from $24.78 million last year. Earnings per share increased to $0.94 from $0.84 a year ago. On average, 9 analysts polled by Thomson Reuters is expecting earnings of $0.98 per share. Analysts estimates usually exclude special items.

Revenue for the quarter climbed to $202.77 million from $185.20 million last year. Revenue from core pawn activities increased 19% from last year. Wall Street was looking for revenue of $208.25 million.

The company provided guidance for fiscal 2015 and said its board has authorized a new share repurchase plan for up to two million. Looking ahead, the company expects 8 -13 percent EBITDA growth from continuing operations. Earnings from continuing operations is expected in a range of $2.75 to $2.90 per share.

Revenue growth in 2015 is expected to be generated exclusively from core pawn operations. Further, the Company intends to close seven consumer loan stores during the first quarter of 2015. Approximately 96% of projected 2015 revenues are expected to be derived from the continued growth and focus on pawn operations.