AUSTIN, Texas, April 18, 2012 /PRNewswire/ -- EZCORP, Inc. (Nasdaq: EZPW), a leading provider of instant cash solutions for consumers, today announced changes to its segment reporting. These changes will be effective beginning with the Company's second fiscal quarter ended March 31, 2012.
(Logo: http://photos.prnewswire.com/prnh/20090713/EZCORPLOGO)
Previously, the Company reported segments based primarily on product offerings as follows:
- US Pawn Operations – 468 stores in the U.S. offering primarily pawn, buy/sell and, in 74 cases, unsecured loans and/or auto title loans (or related credit services).
- Empeno Facil – 205 stores in Mexico offering pawn and buy/sell.
- EZMONEY Operations – 435 stores in the U.S. offering unsecured loans and/or auto title loans (or related credit services) and 67 stores in Canada offering a mix of unsecured loans and buy/sell.
The Company also owns almost 30% of Albemarle & Bond Holdings PLC (ABM.L) and approximately 33% of Cash Converters International Limited (CCV.ASX), each of which are accounted for under the equity accounting method. Additionally, in January 2012, the Company acquired 60% of Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. (doing business under the name "Crediamigo"), an unsecured lending business in Mexico.
The Company's strategy includes both broadening its product offerings and expanding its geographic coverage through strategic partners. Many of its bricks and mortar locations now offer multiple products, including pawn, buy/sell, unsecured loans, auto title loans and the Change Card (the Company's branded, reloadable debit card offering). In addition, the Company is increasingly being organized and managed along geographic lines, with product offerings and channels based on local custom and regulation. The Company has concluded that segment reporting based on geography more closely aligns with its management organization and strategic direction. Accordingly, for periods ending after January 1, 2012, the Company will report segments as follows:
- U.S. & Canada – All business activities in the United States and Canada.
- Latin America – All business activities in Mexico and other parts of Latin America.
- Other International – All business activities in the rest of the world (currently consisting of unsecured loans online in the U.K. and the Company's equity interests in the net income of Albemarle & Bond and Cash Converters International).
Where practical, expenses, including administrative expenses, depreciation and amortization, are allocated to segments. Interest is also allocated to segments where indebtedness is incurred at the local country level and is non-recourse to EZCORP. Expenses that cannot be allocated are included as corporate expenses.
In the tables below, the Company updated its segment reporting for all quarters of the fiscal year ended September 30, 2010, all quarters of the fiscal year ended September 30, 2011 and the quarter ended December 31, 2011:
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Year Ended September 30, 2011 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 256,846 |
$ 25,237 |
$ - |
$ 282,083 |
|||||
Jewelry scrapping sales |
196,482 |
15,997 |
- |
212,479 |
|||||
Pawn service charges |
184,234 |
16,901 |
- |
201,135 |
|||||
Consumer loan fees |
171,951 |
- |
- |
171,951 |
|||||
Other |
1,547 |
122 |
- |
1,669 |
|||||
Total revenues |
811,060 |
58,257 |
- |
869,317 |
|||||
Merchandise cost of goods sold |
147,388 |
14,672 |
- |
162,060 |
|||||
Jewelry scrapping cost of goods sold |
121,355 |
12,205 |
- |
133,560 |
|||||
Consumer loan bad debt |
38,759 |
- |
- |
38,759 |
|||||
Net revenues |
503,558 |
31,380 |
- |
534,938 |
|||||
Operating expenses: |
|||||||||
Store operations |
246,416 |
20,636 |
- |
267,052 |
|||||
Administrative |
19,444 |
4,447 |
795 |
24,686 |
|||||
Depreciation |
11,211 |
2,446 |
- |
13,657 |
|||||
Amortization |
456 |
399 |
- |
855 |
|||||
Loss on sale/disposal of assets |
296 |
13 |
- |
309 |
|||||
Interest, net |
30 |
4 |
- |
34 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(16,237) |
(16,237) |
|||||
Other |
(3) |
7 |
(168) |
(164) |
|||||
Segment contribution |
$ 225,708 |
$ 3,428 |
$ 15,610 |
$ 244,746 |
|||||
Corporate expenses |
56,035 |
||||||||
Income before taxes |
188,711 |
||||||||
Income tax expense |
66,552 |
||||||||
Net income |
122,159 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 122,159 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Year Ended September 30, 2010 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 226,424 |
$ 14,030 |
$ - |
$ 240,454 |
|||||
Jewelry scrapping sales |
164,022 |
7,389 |
- |
171,411 |
|||||
Pawn service charges |
154,505 |
9,190 |
- |
163,695 |
|||||
Consumer loan fees |
157,022 |
- |
- |
157,022 |
|||||
Other |
463 |
- |
- |
463 |
|||||
Total revenues |
702,436 |
30,609 |
- |
733,045 |
|||||
Merchandise cost of goods sold |
131,825 |
8,459 |
- |
140,284 |
|||||
Jewelry scrapping cost of goods sold |
104,701 |
6,137 |
- |
110,838 |
|||||
Consumer loan bad debt |
34,444 |
- |
- |
34,444 |
|||||
Net revenues |
431,466 |
16,013 |
- |
447,479 |
|||||
Operating expenses: |
|||||||||
Store operations |
225,006 |
11,658 |
- |
236,664 |
|||||
Administrative |
16,550 |
2,763 |
69 |
19,382 |
|||||
Depreciation |
9,442 |
1,453 |
- |
10,895 |
|||||
Amortization |
275 |
356 |
- |
631 |
|||||
(Gain)/loss on sale/disposal of assets |
1,546 |
(2) |
- |
1,544 |
|||||
Interest, net |
- |
2 |
- |
2 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(10,750) |
(10,750) |
|||||
Other |
3 |
(3) |
(93) |
(93) |
|||||
Segment contribution |
$ 178,644 |
$ (214) |
$ 10,774 |
$ 189,204 |
|||||
Corporate expenses |
37,674 |
||||||||
Income before taxes |
151,530 |
||||||||
Income tax expense |
54,236 |
||||||||
Net income |
97,294 |
||||||||
Net income attributable to noncontrolling interest |
- |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended December 31, 2011 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 76,552 |
$ 10,342 |
$ - |
$ 86,894 |
|||||
Jewelry scrapping sales |
52,866 |
3,537 |
- |
56,403 |
|||||
Pawn service charges |
54,370 |
5,422 |
- |
59,792 |
|||||
Consumer loan fees |
45,012 |
- |
76 |
45,088 |
|||||
Other |
576 |
120 |
- |
696 |
|||||
Total revenues |
229,376 |
19,421 |
76 |
248,873 |
|||||
Merchandise cost of goods sold |
43,451 |
4,945 |
- |
48,396 |
|||||
Jewelry scrapping cost of goods sold |
33,150 |
2,274 |
- |
35,424 |
|||||
Consumer loan bad debt |
10,890 |
- |
135 |
11,025 |
|||||
Net revenues |
141,885 |
12,202 |
(59) |
154,028 |
|||||
Operating expenses: |
|||||||||
Store operations |
68,325 |
5,998 |
178 |
74,501 |
|||||
Administrative |
6,447 |
1,295 |
420 |
8,162 |
|||||
Depreciation |
3,117 |
680 |
22 |
3,819 |
|||||
Amortization |
130 |
97 |
- |
227 |
|||||
Gain on sale/disposal of assets |
(200) |
(1) |
- |
(201) |
|||||
Interest, net |
4 |
(36) |
- |
(32) |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(4,161) |
(4,161) |
|||||
Other |
(1,060) |
5 |
(64) |
(1,119) |
|||||
Segment contribution |
$ 65,122 |
$ 4,164 |
$ 3,546 |
$ 72,832 |
|||||
Corporate expenses |
13,341 |
||||||||
Income before taxes |
59,491 |
||||||||
Income tax expense |
20,139 |
||||||||
Net income |
39,352 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 39,352 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended December 31, 2010 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 66,305 |
$ 5,575 |
$ - |
$ 71,880 |
|||||
Jewelry scrapping sales |
47,203 |
3,462 |
- |
50,665 |
|||||
Pawn service charges |
46,436 |
3,374 |
- |
49,810 |
|||||
Consumer loan fees |
46,310 |
- |
- |
46,310 |
|||||
Other |
158 |
3 |
- |
161 |
|||||
Total revenues |
206,412 |
12,414 |
- |
218,826 |
|||||
Merchandise cost of goods sold |
38,197 |
3,114 |
- |
41,311 |
|||||
Jewelry scrapping cost of goods sold |
29,617 |
2,638 |
- |
32,255 |
|||||
Consumer loan bad debt |
11,028 |
- |
- |
11,028 |
|||||
Net revenues |
127,570 |
6,662 |
- |
134,232 |
|||||
Operating expenses: |
|||||||||
Store operations |
60,226 |
4,278 |
- |
64,504 |
|||||
Administrative |
5,403 |
937 |
25 |
6,365 |
|||||
Depreciation |
2,602 |
506 |
- |
3,108 |
|||||
Amortization |
115 |
97 |
- |
212 |
|||||
Loss on sale/disposal of assets |
6 |
1 |
- |
7 |
|||||
Interest, net |
- |
1 |
- |
1 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(3,367) |
(3,367) |
|||||
Other |
- |
- |
(61) |
(61) |
|||||
Segment contribution |
$ 59,218 |
$ 842 |
$ 3,403 |
$ 63,463 |
|||||
Corporate expenses |
20,928 |
||||||||
Income before taxes |
42,535 |
||||||||
Income tax expense |
15,106 |
||||||||
Net income |
27,429 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 27,429 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended December 31, 2009 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 61,262 |
$ 3,354 |
$ - |
$ 64,616 |
|||||
Jewelry scrapping sales |
36,835 |
607 |
- |
37,442 |
|||||
Pawn service charges |
38,941 |
1,856 |
- |
40,797 |
|||||
Consumer loan fees |
41,780 |
- |
- |
41,780 |
|||||
Other |
116 |
- |
- |
116 |
|||||
Total revenues |
178,934 |
5,817 |
- |
184,751 |
|||||
Merchandise cost of goods sold |
36,906 |
2,358 |
- |
39,264 |
|||||
Jewelry scrapping cost of goods sold |
22,831 |
475 |
- |
23,306 |
|||||
Consumer loan bad debt |
9,250 |
- |
- |
9,250 |
|||||
Net revenues |
109,947 |
2,984 |
- |
112,931 |
|||||
Operating expenses: |
|||||||||
Store operations |
56,017 |
2,164 |
- |
58,181 |
|||||
Administrative |
3,726 |
598 |
67 |
4,391 |
|||||
Depreciation |
2,224 |
267 |
- |
2,491 |
|||||
Amortization |
38 |
88 |
- |
126 |
|||||
Loss on sale/disposal of assets |
211 |
- |
- |
211 |
|||||
Interest, net |
- |
(2) |
- |
(2) |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(1,283) |
(1,283) |
|||||
Other |
(1) |
(9) |
(5) |
(15) |
|||||
Segment contribution |
$ 47,732 |
$ (122) |
$ 1,221 |
$ 48,831 |
|||||
Corporate expenses |
9,004 |
||||||||
Income before taxes |
39,827 |
||||||||
Income tax expense |
14,120 |
||||||||
Net income |
25,707 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 25,707 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended March 31, 2011 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 72,420 |
$ 5,353 |
$ - |
$ 77,773 |
|||||
Jewelry scrapping sales |
44,351 |
3,644 |
- |
47,995 |
|||||
Pawn service charges |
43,073 |
3,696 |
- |
46,769 |
|||||
Consumer loan fees |
40,472 |
- |
- |
40,472 |
|||||
Other |
220 |
25 |
- |
245 |
|||||
Total revenues |
200,536 |
12,718 |
- |
213,254 |
|||||
Merchandise cost of goods sold |
41,484 |
3,155 |
- |
44,639 |
|||||
Jewelry scrapping cost of goods sold |
28,848 |
3,077 |
- |
31,925 |
|||||
Consumer loan bad debt |
5,740 |
- |
- |
5,740 |
|||||
Net revenues |
124,464 |
6,486 |
- |
130,950 |
|||||
Operating expenses: |
|||||||||
Store operations |
61,196 |
4,849 |
- |
66,045 |
|||||
Administrative |
4,407 |
1,079 |
27 |
5,513 |
|||||
Depreciation |
2,764 |
578 |
- |
3,342 |
|||||
Amortization |
121 |
100 |
- |
221 |
|||||
Gain on sale/disposal of assets |
(178) |
- |
- |
(178) |
|||||
Interest, net |
- |
1 |
- |
1 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(4,691) |
(4,691) |
|||||
Other |
3 |
1 |
- |
4 |
|||||
Segment contribution |
$ 56,151 |
$ (122) |
$ 4,664 |
$ 60,693 |
|||||
Corporate expenses |
11,411 |
||||||||
Income before taxes |
49,282 |
||||||||
Income tax expense |
17,444 |
||||||||
Net income |
31,838 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 31,838 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended March 31, 2010 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 63,049 |
$ 3,259 |
$ - |
$ 66,308 |
|||||
Jewelry scrapping sales |
34,466 |
1,762 |
- |
36,228 |
|||||
Pawn service charges |
36,256 |
2,050 |
- |
38,306 |
|||||
Consumer loan fees |
35,598 |
- |
- |
35,598 |
|||||
Other |
144 |
- |
- |
144 |
|||||
Total revenues |
169,513 |
7,071 |
- |
176,584 |
|||||
Merchandise cost of goods sold |
37,058 |
2,023 |
- |
39,081 |
|||||
Jewelry scrapping cost of goods sold |
21,507 |
1,574 |
- |
23,081 |
|||||
Consumer loan bad debt |
4,717 |
- |
- |
4,717 |
|||||
Net revenues |
106,231 |
3,474 |
- |
109,705 |
|||||
Operating expenses: |
|||||||||
Store operations |
55,632 |
2,573 |
- |
58,205 |
|||||
Administrative |
4,124 |
634 |
2 |
4,760 |
|||||
Depreciation |
2,328 |
340 |
- |
2,668 |
|||||
Amortization |
72 |
84 |
- |
156 |
|||||
(Gain)/loss on sale/disposal of assets |
383 |
(3) |
- |
380 |
|||||
Interest, net |
- |
1 |
- |
1 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(3,306) |
(3,306) |
|||||
Other |
13 |
(1) |
- |
12 |
|||||
Segment contribution |
$ 43,679 |
$ (154) |
$ 3,304 |
$ 46,829 |
|||||
Corporate expenses |
9,834 |
||||||||
Income before taxes |
36,995 |
||||||||
Income tax expense |
13,222 |
||||||||
Net income |
23,773 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 23,773 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended June 30, 2011 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 58,173 |
$ 6,401 |
$ - |
$ 64,574 |
|||||
Jewelry scrapping sales |
46,514 |
4,257 |
- |
50,771 |
|||||
Pawn service charges |
43,846 |
4,519 |
- |
48,365 |
|||||
Consumer loan fees |
38,870 |
- |
- |
38,870 |
|||||
Other |
566 |
6 |
- |
572 |
|||||
Total revenues |
187,969 |
15,183 |
- |
203,152 |
|||||
Merchandise cost of goods sold |
32,924 |
3,767 |
- |
36,691 |
|||||
Jewelry scrapping cost of goods sold |
28,951 |
3,486 |
- |
32,437 |
|||||
Consumer loan bad debt |
11,027 |
- |
- |
11,027 |
|||||
Net revenues |
115,067 |
7,930 |
- |
122,997 |
|||||
Operating expenses: |
|||||||||
Store operations |
61,347 |
5,406 |
- |
66,753 |
|||||
Administrative |
4,293 |
1,014 |
506 |
5,813 |
|||||
Depreciation |
2,828 |
639 |
- |
3,467 |
|||||
Amortization |
117 |
104 |
- |
221 |
|||||
Loss on sale/disposal of assets |
157 |
12 |
- |
169 |
|||||
Interest, net |
20 |
2 |
- |
22 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(4,099) |
(4,099) |
|||||
Other |
2 |
2 |
(107) |
(103) |
|||||
Segment contribution |
$ 46,303 |
$ 751 |
$ 3,700 |
$ 50,754 |
|||||
Corporate expenses |
10,100 |
||||||||
Income before taxes |
40,654 |
||||||||
Income tax expense |
14,127 |
||||||||
Net income |
26,527 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 26,527 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended June 30, 2010 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 49,749 |
$ 3,529 |
$ - |
$ 53,278 |
|||||
Jewelry scrapping sales |
41,592 |
2,181 |
- |
43,773 |
|||||
Pawn service charges |
37,014 |
2,410 |
- |
39,424 |
|||||
Consumer loan fees |
36,954 |
- |
- |
36,954 |
|||||
Other |
113 |
- |
- |
113 |
|||||
Total revenues |
165,422 |
8,120 |
- |
173,542 |
|||||
Merchandise cost of goods sold |
27,749 |
1,961 |
- |
29,710 |
|||||
Jewelry scrapping cost of goods sold |
27,413 |
1,862 |
- |
29,275 |
|||||
Consumer loan bad debt |
9,753 |
- |
- |
9,753 |
|||||
Net revenues |
100,507 |
4,297 |
- |
104,804 |
|||||
Operating expenses: |
|||||||||
Store operations |
54,953 |
2,999 |
- |
57,952 |
|||||
Administrative |
4,307 |
741 |
- |
5,048 |
|||||
Depreciation |
2,387 |
423 |
- |
2,810 |
|||||
Amortization |
59 |
92 |
- |
151 |
|||||
Loss on sale/disposal of assets |
732 |
1 |
- |
733 |
|||||
Interest, net |
- |
1 |
- |
1 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(2,930) |
(2,930) |
|||||
Other |
(10) |
(2) |
(88) |
(100) |
|||||
Segment contribution |
$ 38,079 |
$ 42 |
$ 3,018 |
$ 41,139 |
|||||
Corporate expenses |
9,502 |
||||||||
Income before taxes |
31,637 |
||||||||
Income tax expense |
11,675 |
||||||||
Net income |
19,962 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 19,962 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended September 30, 2011 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 59,948 |
$ 7,908 |
$ - |
$ 67,856 |
|||||
Jewelry scrapping sales |
58,414 |
4,634 |
- |
63,048 |
|||||
Pawn service charges |
50,879 |
5,312 |
- |
56,191 |
|||||
Consumer loan fees |
46,299 |
- |
- |
46,299 |
|||||
Other |
603 |
88 |
- |
691 |
|||||
Total revenues |
216,143 |
17,942 |
- |
234,085 |
|||||
Merchandise cost of goods sold |
34,783 |
4,636 |
- |
39,419 |
|||||
Jewelry scrapping cost of goods sold |
33,939 |
3,004 |
- |
36,943 |
|||||
Consumer loan bad debt |
10,964 |
- |
- |
10,964 |
|||||
Net revenues |
136,457 |
10,302 |
- |
146,759 |
|||||
Operating expenses: |
|||||||||
Store operations |
63,647 |
6,103 |
- |
69,750 |
|||||
Administrative |
5,341 |
1,417 |
237 |
6,995 |
|||||
Depreciation |
3,017 |
723 |
- |
3,740 |
|||||
Amortization |
103 |
98 |
- |
201 |
|||||
Loss on sale/disposal of assets |
311 |
- |
- |
311 |
|||||
Interest, net |
10 |
- |
- |
10 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(4,080) |
(4,080) |
|||||
Other |
(8) |
4 |
- |
(4) |
|||||
Segment contribution |
$ 64,036 |
$ 1,957 |
$ 3,843 |
$ 69,836 |
|||||
Corporate expenses |
13,596 |
||||||||
Income before taxes |
56,240 |
||||||||
Income tax expense |
19,875 |
||||||||
Net income |
36,365 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 36,365 |
EZCORP, Inc. |
|||||||||
Operating Segment Results |
|||||||||
(In Thousands) |
|||||||||
Three Months Ended September 30, 2010 |
|||||||||
U.S. & Canada |
Latin America |
Other |
Consolidated |
||||||
Revenues: |
|||||||||
Merchandise sales |
$ 52,364 |
$ 3,888 |
$ - |
$ 56,252 |
|||||
Jewelry scrapping sales |
51,129 |
2,839 |
- |
53,968 |
|||||
Pawn service charges |
42,294 |
2,874 |
- |
45,168 |
|||||
Consumer loan fees |
42,690 |
- |
- |
42,690 |
|||||
Other |
90 |
- |
- |
90 |
|||||
Total revenues |
188,567 |
9,601 |
- |
198,168 |
|||||
Merchandise cost of goods sold |
30,112 |
2,117 |
- |
32,229 |
|||||
Jewelry scrapping cost of goods sold |
32,950 |
2,226 |
- |
35,176 |
|||||
Consumer loan bad debt |
10,724 |
- |
- |
10,724 |
|||||
Net revenues |
114,781 |
5,258 |
- |
120,039 |
|||||
Operating expenses: |
|||||||||
Store operations |
58,404 |
3,922 |
- |
62,326 |
|||||
Administrative |
4,393 |
790 |
- |
5,183 |
|||||
Depreciation |
2,503 |
423 |
- |
2,926 |
|||||
Amortization |
106 |
92 |
- |
198 |
|||||
Loss on disposal of assets |
220 |
- |
- |
220 |
|||||
Interest, net |
- |
2 |
- |
2 |
|||||
Equity in net income of unconsolidated affiliates |
- |
- |
(3,231) |
(3,231) |
|||||
Other |
1 |
9 |
- |
10 |
|||||
Segment contribution |
$ 49,154 |
$ 20 |
$ 3,231 |
$ 52,405 |
|||||
Corporate expenses |
9,334 |
||||||||
Income before taxes |
43,071 |
||||||||
Income tax expense |
15,219 |
||||||||
Net income |
27,852 |
||||||||
Net income attributable to noncontrolling interest |
- |
||||||||
Net income attributable to EZCORP, Inc. |
$ 27,852 |
About EZCORP
EZCORP is a leading provider of instant cash solutions for consumers. Through more than 1,200 company-operated pawn, buy/sell and personal financial services stores in the U.S., Mexico and Canada, we provide a variety of instant cash solutions, including pawn loans, payday loans, installment loans, auto title loans, and fee-based credit services to customers seeking loans. At our pawn and buy/sell stores, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.
EZCORP owns a controlling interest in Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. (doing business under the name "Crediamigo"), a leading provider of payroll deduction loans in Mexico. The company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.'s largest pawnbroking businesses with over 170 full-line stores offering pawnbroking, jewelry retailing, gold buying and financial services; and in Cash Converters International Limited (CCV.L and CCV.ASX), which franchises and operates a worldwide network of over 600 stores that provide personal financial services and sell pre-owned merchandise.
EZCORP Investor Relations
(512) 314-2220
[email protected]
www.ezcorp.com
SOURCE EZCORP, Inc.
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