The Cash Store Australia Holdings Inc. reports results for the three and six months ended December 31, 2012

 The Cash Store Australia Holdings Inc. reports results for the three and six  months ended December 31, 2012  EDMONTON, Feb. 27, 2013 /CNW/ - The Cash Store Australia Holdings Inc. ("Cash  Store Australia" or the "Company") (TSXV: AUC) today announced results for the  three and six months ended December 31, 2012.  The decline in revenue continued in the second quarter as a result of the  Company's decision to cease brokering loans from March 17, 2012 to April 14,  2012. Also during this period the sale of a key income producing product was  put on hold until a complete review of its key features is undertaken. This  review has now been completed. As a result of this action taken by the  Company, a significant number of customers went elsewhere for their financial  servicing needs and have not yet returned to do business with Cash Store  Australia. The Company plans to introduce new loan products on March 1, 2013  and a newly designed insurance product shortly thereafter. These product  offerings are expected to help draw former customers back to Cash Store  Australia's branches. The new products extend the loan term, increase the  amount loaned and increase the number of payments required to repay the loan  amount.  To partially counteract the effect of the ensuing periods of the reduction in  revenue, the Company reduced branch operating expenses by $1.1 million in the  second quarter and by $1.8 million for the six months ended December 31, 2012  compared to the same periods last year. The Company will continue to monitor  the performance of its existing branch base, merge or close those branches  that do not meet its performance criteria and closely manage creditor  relationships to ensure access to capital is maintained.  The Company made significant improvements in the quarter ended December 31,  2012 over the quarter ended September 30, 2012. The net loss for the quarter  ended December 31, 2012 improved to $2.1 million from $2.9 million for the  quarter ended September 30, 2012. The Company also made significant  improvements in the six months ended December 31, 2012 over the six months  ended June 30, 2012. The net loss for the six months ended December 31, 2012  improved to $5.0 million from $8.4 million for the six months ended June 30,  2012.  Highlights for the second quarter:        --  Revenue of $2.1 million compared to $5.0 million for the same         quarter last year.     --  Net loss of ($2.1 million) compared to a net loss of ($1.5         million) in the second quarter of fiscal 2012.     --  Branch operating expenses reduced by $1.1 million in this         quarter compared to the same quarter last year.     --  Diluted loss per share of ($0.13) compared to a diluted loss         per share of ($0.09) in the same quarter last year.     --  Negative Adjusted EBITDA of ($1.8 million) compared to negative         Adjusted EBITDA of ($1.1 million) in the same quarter last         year.  Highlights for the six months ended December 31, 2012:     --  Revenue of $3.9 million compared to $9.7 million for the same         period last year.     --  Net loss of ($5.0 million) compared to a net loss of ($3.0         million) in the six months ended December 31, 2011.     --  Branch operating expenses reduced by $1.8 million in this         period compared to the same period last year.     --  Diluted loss per share of ($0.31) compared to a diluted loss         per share of ($0.18) in the same six month period last year.     --  Negative Adjusted EBITDA of ($4.6 million) compared to negative         Adjusted EBITDA of ($2.1 million) in the same six month period         last year.  About Cash Store Australia  Cash Store Australia is the only small sum short term advance broker in  Australia publicly traded on the TSX Venture Exchange (TSXV:AUC). Cash Store  Australia operates 67 branches in the States of Victoria, Queensland,  Tasmania, Northern Territory, and New South Wales Australia under the banner  "The Cash Store".  Summary Financial Information                                                                                 Three Months Ended               Six Months Ended                                                      Consolidated          December 31     December 31    December 31     December 31 results  (presented in Canadian                    2012           2011            2012           2011 dollars)     No. of branches           67             81              67             81                                                                                   Revenue                                                                             Brokerage         $    2,008,298  $   4,476,714  $    3,672,715  $   8,641,387    Other income             103,272        493,275         205,636      1,024,432  Total Revenue            2,111,570      4,969,989       3,878,351      9,665,819  Branch Expenses                                                                     Salaries and           1,563,155      2,424,900       3,196,370      4,791,895   benefits    Retention                 96,967      1,249,920         564,487      2,296,813   payments    Rent                     554,545        652,180       1,118,452      1,297,082    Selling,   general, and             345,714        510,474         658,662      1,015,735   administrative    Advertising              173,447        165,252         402,695        272,972   and promotion    Depreciation   of property               49,007        153,312          99,377        323,408   and equipment                          2,782,835      5,156,038       6,040,043      9,997,905  Branch Operating         (671,265)      (186,049)     (2,161,692)      (332,086) Income (Loss)                                                                                     Regional                 212,669        398,803         400,083        742,459   expenses    Corporate              1,122,265        785,961       2,221,982      1,458,417   expenses    Other   depreciation               8,039         12,002          16,508         27,678   and   amortization    Impairment of   property and              98,087        148,797         111,985        449,592   equipment    Restructuring           (52,271)              -        (45,428)              -   costs    Interest                  90,148              -         140,048              -   expense    Foreign   exchange loss           (15,766)       (49,104)          32,822         12,039   (gain)    EBITDA*              (1,987,242)    (1,317,194)     (4,783,759)    (2,671,186)    Adjusted             (1,846,660)    (1,103,413)     (4,586,255)    (2,094,958)   EBITDA*  Net loss            $  (2,134,436)  $ (1,482,508)  $  (5,039,692)  $ (3,022,271)  Weighted average                                                                 number of shares    outstanding -         16,425,981     16,425,981      16,425,981     16,425,981   basic  Basic and Diluted loss per                                                                 share    Net loss          $       (0.13)  $      (0.09)  $       (0.31)  $      (0.18)                                                                                   Consolidated Balance Sheet                                                                    Information  Working capital     $ (20,039,973)  $ (8,140,567)  $ (20,039,973)  $ (8,140,567)  Total assets             2,231,440      3,517,981       2,231,440      3,517,981  Total long-term             80,181        177,188          80,181        177,188 liabilities  Total                   21,667,192      9,743,258      21,667,192      9,743,258 liabilities  Shareholders'       $ (19,435,752)  $ (6,225,277)  $ (19,435,752)  $ (6,225,277) equity  * EBITDA - earnings before interest, income taxes, depreciation of property and equipment and amortization of intangible assets.  Adjusted EBITDA - earnings before interest, income taxes, depreciation of property and equipment and amortization of intangible assets, stock-based compensation and impairment of property and equipment.    Forward Looking Information  This News Release contains "forward-looking information" within the meaning of  applicable Canadian securities legislation. Forward-looking information  includes, but is not limited to, information with respect to our objectives,  strategies, operations and financial results. Generally, forward-looking  information can be identified by the use of forward-looking terminology such  as "plans", "expects", or "does not expect", "is expected", "budget",  "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not  anticipate", or "believes" or variations of such words and phrases or state  that certain actions, events or results "may", "could", "would", "might", or  "will be taken", "occur", or "be achieved. Forward-looking information is  subject to known and unknown risks, uncertainties and other factors that may  cause the actual results, level of activity, performance or achievements of  Cash Store Australia, to be materially different from those expressed or  implied by such forward-looking information. All material assumptions used in  making forward-looking statements are based on management's knowledge of  current business conditions and expectations of future business conditions and  trends. Although we believe the assumptions used to make such statements are  reasonable at this time and have attempted to identify in our continuous  disclosure documents important factors that could cause actual results to  differ materially from those contained in forward-looking statements, there  may be other factors that cause results not to be as anticipated, estimated or  intended. Certain material factors or assumptions are applied by us in making  forward-looking statements, include without limitation, factors and  assumptions regarding our continued ability to fund our small sum short term  loan business, rates of customer defaults, relationships with, and payments  to, third party lenders, demand for our products, as well as our operating  cost structure and current consumer protection regulations. There can be no  assurance that such information will prove to be accurate, as actual results  and future events could differ materially from those anticipated in such  information. Accordingly, readers should not place undue reliance on  forward-looking information. We do not undertake to update any forward-looking  information, except in accordance with applicable securities laws.  Neither TSX Venture Exchange nor its Regulation Services Provider (as that  term is defined in the policies of the TSX Venture Exchange) accepts  responsibility for the adequacy or accuracy of this release.      For further information on Cash Store Australia, please contact:  Bill Johnson, Chief Financial Officer (780) 732-5695;  e-mail:b.johnson@csfinancial.ca  SOURCE: The Cash Store Australia Holdings Inc.  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/February2013/27/c8587.html  CO: The Cash Store Australia Holdings Inc. ST: Alberta NI: FIN ERN   -0- Feb/27/2013 22:00 GMT