EZCORP Raises Earnings Guidance for Fiscal Third Quarter and Year
June 30 2006 - 5:21PM
PR Newswire (US)
AUSTIN, Texas, June 30 /PRNewswire-FirstCall/ -- EZCORP, Inc.
(NASDAQ:EZPW) announced today that it expects earnings for its
quarter ended June 30, 2006 to be in the range of $0.35 to $0.37
per share, significantly higher than its previously announced
guidance of $0.20 to $0.23. During the quarter, the Company
realized stronger than expected sales gross profit, primarily due
to higher gold values, and a lower than expected earnings drag from
new store openings. The Company opened 25 stores during the
quarter, with most of these opening late in the quarter. The
Company still plans to open more than 100 stores this fiscal year,
pushing much of the anticipated new store earnings drag into the
fiscal fourth quarter. The Company also raised its earnings
guidance for its fiscal year ending September 30, 2006 to a range
of $1.80 to $1.85 per share compared to $1.09 per share for the
twelve month period ended September 30, 2005. The Company will
release earnings for its third fiscal quarter on Tuesday, July 25,
2006 following the close of market. Management will discuss the
third quarter results and outlook for the year in a conference call
scheduled for 3:30 pm Central Time on the 25th. EZCORP is a lender
and provider of credit services to individuals who do not have cash
resources or access to credit to meet their short-term cash needs.
In 280 EZPAWN locations open on June 30, 2006, the Company offers
non- recourse loans collateralized by tangible personal property,
commonly known as pawn loans. At these locations, the Company also
sells merchandise, primarily collateral forfeited from its pawn
lending operations, to consumers looking for good value. In 288
EZMONEY locations and 82 EZPAWN locations open on June 30, 2006,
the Company offers short-term non-collateralized loans, often
referred to as payday loans, or fee based credit services to
customers seeking loans. This announcement contains certain
forward-looking statements regarding the Company's expected
performance for future periods including, but not limited to,
expected future earnings and new store expansion. Actual results
for these periods may materially differ from these statements. Such
forward- looking statements involve risks and uncertainties such as
changing market conditions in the overall economy and the industry,
consumer demand for the Company's services and merchandise, changes
in regulatory environment, and other factors periodically discussed
in the Company's annual, quarterly and other reports filed with the
Securities and Exchange Commission. For additional information,
contact Dan Tonissen at (512) 314-2289. DATASOURCE: EZCORP, Inc.
CONTACT: Dan Tonissen of EZCORP, Inc., +1-512-314-2289 Web site:
http://www.ezcorp.com/
Copyright
EZCORP (NASDAQ:EZPW)
Historical Stock Chart
From Aug 2024 to Sep 2024
EZCORP (NASDAQ:EZPW)
Historical Stock Chart
From Sep 2023 to Sep 2024