Cash America Announces First Quarter Net Income and Declares Dividend

  Cash America Announces First Quarter Net Income and Declares Dividend

Business Wire

FORT WORTH, Texas -- April 25, 2013

Cash America International, Inc. (NYSE: CSH) announced today that net income
attributable to the Company for the three-month period ended March 31, 2013
increased 6% to $43,926,000 ($1.40 per share) compared to net income of
$41,467,000 ($1.30 per share) for the same period in 2012. Earnings per share
was up 8% to $1.40 per share for the three-month period ended March 31, 2013,
which is near the top of the Company’s published guidance of expected earnings
per share of between $1.35 and $1.42 per share from its press release dated
January 24, 2013 and above analysts’ published consensus estimates of $1.37
per share as reported by Thompson Reuters.

Consolidated total revenue increased to $468.1 million for the three-month
period ended March 31, 2013 compared to $457.5 million in the same period in
2012. Consolidated net revenue increased 6% to $271.9 million during the first
quarter of 2013, primarily due to a 23% increase in revenue from consumer loan
fees, net of the provision for loan losses. The higher level of net revenue
led to an 8% increase in consolidated income from operations, which rose to
$77.6 million for the three-month period ended March 31, 2013 compared to
$72.0 million for the same period in 2012.

The Company’s E-Commerce segment generated a 27% increase in total revenue to
$182.3 million for the three-month period ended March 31, 2013, primarily due
to the continued growth in both its domestic and its foreign consumer lending
business. The E-Commerce segment experienced expanded marginal profitability
during the first quarter of 2013 compared to the prior year, primarily due to
lower levels of loan loss provision as a percent of revenue, which contributed
to a 37% increase in income from operations for the E-Commerce segment in the
three-month period ended March 31, 2013, to $44.2 million.

Commenting on the first quarter results, Daniel R. Feehan, President and Chief
Executive Officer of Cash America said, “During the first quarter of 2013 we
executed well in the delivery of our consumer loan products generating
outstanding growth in our E-Commerce business. While much of this growth was
offset by the decrease in results in our retail lending services segment,
which was expected based on our year-end outlook for this business, we were
able to meet our expectations for consolidated financial performance for the
first quarter.”

Domestic pawn loan balances ended the period up 4%, to $198 million at March
31, 2013, and domestic pawn loan fees and service charges were up 7% for the
three-month period ended March 31, 2013, compared to the same period in 2012.
However, the Company’s Retail Services segment, which includes both the
domestic and Mexico-based pawn activities, reported an 8% decrease in net
revenue to $157.4 million for the three-month period ended March 31, 2013. The
decrease in net revenue was primarily due to lower net proceeds from the sale
of merchandise, and, to a lesser extent, the reduction in Mexico-based pawn
lending activities pursuant to the reorganization of the business, which
included the closing of 148 net locations during the last half of 2012.

Cash America will host a conference call to discuss the first quarter results
on Thursday, April 25 at 7:00 AM CDT. A live web cast of the call will be
available on the Investor Relations section of the Company’s corporate web
site http://www.cashamerica.com. To listen to the live call, please go to the
web site at least fifteen minutes prior to the call to register, download, and
install any necessary audio software.

Additionally, the Company announced that the Board of Directors, at its
regularly scheduled quarterly meeting, declared a $0.035 (3.5 cents) per share
cash dividend on common shares outstanding. The dividend will be paid at the
close of business on May 22, 2013 to shareholders of record on May 8, 2013.

Outlook for the Second Quarter of 2013 and the 2013 Fiscal Year

Management believes that the opportunities for sustained growth in revenue and
earnings will be largely associated with the customer demand for the credit
products provided by the Company, which take the form of pawn loans and
consumer loans. During the first quarter of 2013, the typical seasonal decline
in loan balances occurred later in the quarter than usual due to delays in
Federal Income Tax refunds to many of our customers. Typically, customers use
a portion of these refunds to pay back existing loans and for the purchase of
merchandise. At the outset of the second quarter the Company expects loan
balances to begin to recover due to seasonal factors. The rate of this
increase and the timing has a significant influence on second quarter results
and the delay in distribution of tax refunds to our customers is expected to
prolong the recovery of consumer loan balances and pawn loan balances. Other
elements expected to affect the growth in revenue in future periods include
the potential impact of the regulatory governance of loan products, the
post-reorganization continued development of the Company’s Mexico-based pawn
operations, the prevailing market price of gold and the development and
expansion of the Company’s consumer loan products in its e-commerce segment.
Based on its views on the preceding factors, management expects that the
second quarter 2013 earnings per share will be between 91 cents and 96 cents
per share compared to 94 cents per share in the second quarter 2012. At this
time, based primarily on the recent decrease in the spot price of gold,
management is lowering its previously reported expectations for its fiscal
year 2013 earnings per share to a range of between $4.70 and $5.00. This
guidance range compares to actual full year 2012 earnings per share of $3.42,
which includes one-time events of $25.4 million (81 cents per share) related
to Mexico reorganization charges, $8.4 million (27 cents per share) related to
the voluntary Ohio customer refund expense, and $2.5 million (7 cents per
share) related to expenses associated with the withdrawn proposed initial
public offering of the Company’s wholly-owned subsidiary Enova International,
Inc.

About the Company

As of March 31, 2013, Cash America International, Inc. operated 966 total
locations offering specialty financial services to consumers, which included
the following:

  *828 lending locations in 22 states in the United States primarily under
    the names “Cash America Pawn,” “SuperPawn,” “Cash America Payday Advance,”
    and “Cashland;”
  *47 pawn lending locations in central and southern Mexico under the name
    “Cash America casa de empeño” (previously operated under the name “Prenda
    Fácil”); and
  *91 check cashing centers (all of which are unconsolidated franchised check
    cashing centers) operating in 15 states in the United States under the
    name “Mr. Payroll.”

Additionally, as of March 31, 2013, the Company offered consumer loans over
the Internet to customers:

  *in 32 states in the United States at http://www.cashnetusa.com and
    http://www.netcredit.com;
  *in the United Kingdom at http://www.quickquid.co.uk and
    http://www.poundstopocket.co.uk;
  *in Australia at http://www.dollarsdirect.com.au; and
  *in Canada at http://www.dollarsdirect.ca.

For additional information regarding the Company and the services it provides,
visit the Company’s websites located at:

                                  
http://www.cashamerica.com               http://www.poundstopocket.co.uk
http://www.enova.com                     http://www.dollarsdirect.com.au
http://www.cashnetusa.com                http://www.dollarsdirect.ca
http://www.netcredit.com                 http://www.goldpromise.com
http://www.cashlandloans.com             http://www.mrpayroll.com
http://www.quickquid.co.uk               http://www.primaryinnovations.net
                                         

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995

This release contains forward-looking statements about the business, financial
condition, operations and prospects of the Company. The actual results of the
Company could differ materially from those indicated by the forward-looking
statements because of various risks and uncertainties including, without
limitation: changes in domestic and foreign pawn, consumer credit, tax and
other laws and governmental rules and regulations applicable to the Company's
business or changes in the interpretation or enforcement thereof; the
anticipated regulation of consumer financial products and services by the
Consumer Financial Protection Bureau; acceptance by consumers, legislators or
regulators of the negative characterization by the media and consumer
activists with respect to certain of the Company’s loan products; the
reorganization of the Company’s Mexico-based pawn operations; the
deterioration of the political, regulatory or economic environment in foreign
countries where the Company operates or in the future may operate; the actions
of third parties who provide, acquire or offer products and services to, from
or for the Company; changes in demand for the Company's services and the
continued acceptance of the online distribution channel by the Company’s
online loan customers; fluctuations in the price of gold or a deterioration in
economic conditions; changes in competition; the ability of the Company to
open new locations in accordance with its plans or to successfully integrate
newly acquired businesses into the Company’s operations; interest rate and
foreign currency exchange rate fluctuations; the effect of any current or
future litigation proceedings or any judicial decisions or rule-making that
affect the Company, its products or its arbitration agreements; changes in the
capital markets; changes in the Company’s ability to satisfy its debt
obligations or to refinance existing debt obligations or obtain new capital to
finance growth; a prolonged interruption in the Company’s operations of its
facilities, systems and business functions, including its information
technology and other business systems; security breaches, cyber attacks or
fraudulent activity; the implementation of new, or changes in the
interpretation of existing, accounting principles or financial reporting
requirements; acts of God, war or terrorism, pandemics and other events; the
effect of any of such changes on the Company’s business or the markets in
which it operates; and other risks and uncertainties indicated in the
Company's filings with the Securities and Exchange Commission. These risks and
uncertainties are beyond the ability of the Company to control, nor can the
Company predict, in many cases, all of the risks and uncertainties that could
cause its actual results to differ materially from those indicated by the
forward-looking statements. When used in this release, terms such as
“believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,”
“anticipates,” “may,” “forecasts,” “projects” and similar expressions and
variations as they relate to the Company or its management are intended to
identify forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements to reflect
events or circumstances occurring after the date of this release.



CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
HIGHLIGHTS OF CONSOLIDATED RESULTS OF OPERATIONS
(dollars in thousands, except per share data)
(Unaudited)
                                                     Three Months Ended
                                                       March 31,
                                                       2013        2012
                                                                     
Consolidated Operations:
Total revenue                                          $ 468,128     $ 457,488
Net revenue                                              271,941       256,784
Total expenses                                        194,355    184,776
                                                                     
Income from Operations                                 $ 77,586      $ 72,008
                                                                     
Income before income taxes                            69,716     64,831
                                                                     
Net Income                                           $ 43,922    $ 40,523
                                                                     
Net loss attributable to the noncontrolling           4          944
interest
                                                                     
Net Income Attributable to Cash America              $ 43,926    $ 41,467
International, Inc.
                                                                     
Earnings per share:
Net Income attributable to Cash America
International, Inc.

common shareholders:
Basic                                                  $ 1.51        $ 1.40
Diluted                                                $ 1.40        $ 1.30
                                                                     
Weighted average common shares outstanding:
Basic                                                    29,100        29,616
Diluted                                                  31,371        31,912


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except per share data)
(Unaudited)
                                     March 31,                December 31,
                                       2013        2012        2012
                                                                     
Assets
Current assets:
Cash and cash equivalents             $ 78,361      $ 63,606      $  63,134
Pawn loans                              202,982       206,343        244,640
Consumer loans, net                     253,801       200,365        289,418
Merchandise held for disposition,       146,041       139,519        167,409
net
Pawn loan fees and service              40,560        38,797         48,991
charges receivable
Income taxes receivable                 15,522        -              -
Prepaid expenses and other assets       38,431        34,213         35,605
Deferred tax assets                  45,771      32,312       48,992
Total current assets                    821,469       715,155        898,189
Property and equipment, net             255,165       250,722        261,771
Goodwill                                611,240       567,830        608,216
Intangible assets, net                  35,168        33,956         36,473
Other assets                         12,405      15,074       13,609
Total assets                        $ 1,735,447  $ 1,582,737  $  1,818,258
                                                                     
Liabilities and Equity
Current liabilities:
Accounts payable and accrued          $ 115,886     $ 88,472      $  126,664
expenses
Customer deposits                       12,826        11,464         11,420
Income taxes currently payable          -             19,894         5,922
Current portion of long-term debt    22,606      35,939       43,617
Total current liabilities               151,318       155,769        187,623
Deferred tax liabilities                104,524       92,277         101,711
Noncurrent income tax payable           37,094        2,602          2,703
Other liabilities                       1,418         1,254          888
Long-term debt                       427,777     371,969      534,713
Total liabilities                   $ 722,131    $ 623,871    $  827,638
                                                                     
Equity:
Cash America International, Inc.
equity:
Common stock, $0.10 par value per
share, 80,000,000 shares
authorized, 30,235,164 shares           3,024         3,024          3,024
issued and outstanding
Additional paid-in capital              155,617       164,722        157,613
Retained earnings                       922,347       816,496        879,434
Accumulated other comprehensive         4,202         3,460          3,128
income
Treasury shares, at cost
(1,713,387 shares, 888,336 shares
and 1,351,712 shares at March 31,       (70,596)      (33,051)       (51,304)
2013 and 2012, and at December
31, 2012, respectively)
Total Cash America International,       1,014,594     954,651        991,895
Inc. shareholders' equity
Noncontrolling interest              (1,278)     4,215        (1,275)
Total equity                         1,013,316   958,866      990,620
Total liabilities and equity        $ 1,735,447  $ 1,582,737  $  1,818,258

                                                    
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share data)

(Unaudited)
                                                       
                                                      Three Months Ended
                                                       March 31,
                                                       2013        2012
                                                                       
Revenue
Pawn loan fees and service charges                     $ 75,914      $ 72,899
Proceeds from disposition of merchandise                 178,717       208,383
Consumer loan fees                                       210,205       172,840
Other                                                 3,292      3,366
Total Revenue                                         468,128    457,488
Cost of Revenue
Disposed merchandise                                     121,335       138,321
Consumer loan loss provision                          74,852     62,383
Total Cost of Revenue                                 196,187    200,704
                                                                       
Net Revenue                                           271,941    256,784
Expenses
Operations and administration                            176,824       170,155
Depreciation and amortization                         17,531     14,621
Total Expenses                                        194,355    184,776
Income from Operations                                   77,586        72,008
Interest expense                                         (7,445)       (7,176)
Interest income                                          63            29
Foreign currency transaction (loss) gain                 (377)         87
Equity in loss of unconsolidated subsidiary           (111)      (117)
Income before Income Taxes                               69,716        64,831
Provision for income taxes                            25,794     24,308
Net Income                                               43,922        40,523
Net loss attributable to the noncontrolling           4          944
interest
Net Income Attributable to Cash America              $ 43,926    $ 41,467
International, Inc.
Earnings Per Share:
Net Income attributable to Cash America
International, Inc. common shareholders:
Basic                                                  $ 1.51        $ 1.40
Diluted                                                $ 1.40        $ 1.30
Weighted average common shares outstanding:
Basic                                                    29,100        29,616
Diluted                                                  31,371        31,912
Dividends declared per common share                    $ 0.035       $ 0.035


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
MERCHANDISE DISPOSITION, GROSS PROFIT AND OPERATING DATA

The following tables outline certain data related to the pawn loan activities
of Cash America International, Inc. and its subsidiaries (the “Company”) as of
and for the three months ended March 31, 2013 and 2012 (dollars in thousands).

                                                    
                                                         
                2013                                     2012
                Domestic    Foreign    Total         Domestic    Foreign    Total
As of March
31,
Ending pawn
loan            $ 197,998     $ 4,984      $ 202,982     $ 189,721     $ 16,622     $ 206,343
balances
Ending
merchandise     $ 140,667     $ 5,374      $ 146,041     $ 128,206     $ 11,313     $ 139,519
balance,
net
                                                                                      
Three
Months
Ended March
31,
                                                                                      
Pawn loan
fees and        $ 74,174      $ 1,740      $ 75,914      $ 69,413      $ 3,486      $ 72,899
service
charges
Average
pawn loan       $ 222,796     $ 4,512      $ 227,308     $ 214,836     $ 16,067     $ 230,903
balance
outstanding
Amount of
pawn loans      $ 215,376     $ 13,093     $ 228,469     $ 205,454     $ 37,396     $ 242,850
written and
renewed
Annualized
yield on          135.0%        156.4%       135.4%        129.9%        87.3%        127.0%
pawn loans
Average
amount per      $ 130         $ 86         $ 126         $ 130         $ 100        $ 125
pawn loan
(in ones)
Gross
profit
margin on         32.4%         20.1%        32.1%         35.1%         9.7%         33.6%
disposition
of
merchandise
Merchandise       3.1           2.7          3.1           3.5           4.0          3.6
turnover
                                                                                      

Profit from the disposition of merchandise represents the proceeds received
from the disposition of merchandise in excess of the cost of disposed
merchandise, which is the Company's cost basis in the loan or the amount paid
for purchased merchandise. The following table summarizes the proceeds from
the disposition of merchandise and the related profit for the three months
ended March 31, 2013 and 2012 (dollars in thousands).

             
                Three Months Ended March 31,
                2013                                         2012
                Retail        Commercial   Total           Retail        Commercial   Total
Proceeds
from            $ 112,410       $ 66,307       $ 178,717       $ 112,032       $ 96,351       $ 208,383
disposition
Gross
profit on       $ 41,990        $ 15,392       $ 57,382        $ 41,746        $ 28,316       $ 70,062
disposition
Gross
profit            37.4    %       23.2   %       32.1    %       37.3    %       29.4   %       33.6    %
margin
Percentage
of total          73.2    %       26.8   %       100.0   %       59.6    %       40.4   %       100.0   %
gross
profit
                                                                                                        

The following table summarizes the age of merchandise held for disposition
before valuation allowance of $0.9 million and $0.7 million at March 31, 2013
and 2012, respectively (dollars in thousands).

                                
                                   As of March 31,
                                   2013                  2012
                                   Amount      %         Amount      %
Jewelry - held for one year or     $ 85,344      58.1      $ 87,597      62.5
less
Other merchandise - held for      52,852    36.0     46,250    33.0
one year or less
Total merchandise held for one    138,196   94.1     133,847   95.5
year or less
Jewelry - held for more than         3,199       2.2         2,708       1.9
one year
Other merchandise - held for      5,497     3.7      3,664     2.6
more than one year
Total merchandise held for        8,696     5.9      6,372     4.5
more than one year
Total merchandise held for       $ 146,892   100.0   $ 140,219   100.0
disposition


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSUMER LOAN FINANCIAL AND OPERATING DATA


The following table sets forth consumer loan fees by segment, adjusted for the
deduction of the loan loss provision for the three months ended March 31, 2013
and 2012 (dollars in thousands, except where otherwise noted).

                
                   Three Months Ended March 31,
                   2013                                          2012
                   Retail                                          Retail
                                 E-Commerce    Total                        E-Commerce    Total
                   Services                                        Services
Interest and
fees on            $ 25,207        $ 115,008       $ 140,215       $ 26,911       $ 109,731       $ 136,642
short-term
loans
Interest and
fees on line         -               23,234          23,234          -              11,651          11,651
of credit
accounts
Interest and
fees on           3,115       43,641      46,756      2,461      22,086      24,547  
installment
loans
Consumer loan    $ 28,322     $ 181,883    $ 210,205    $ 29,372    $ 143,468    $ 172,840
fees
Consumer loan     6,778       68,074      74,852      4,466      57,917      62,383  
loss provision
Consumer loan
fees, net of     $ 21,544     $ 113,809    $ 135,353    $ 24,906    $ 85,551     $ 110,457 
loss provision
                                                                                                            
Year-over-year     $ (3,362)       $ 28,258        $ 24,896        $ 2,254        $ 24,576        $ 26,830
change - $
Year-over-year       (13.5)  %       33.0    %       22.5    %       10.0   %       40.3    %       32.1    %
change - %
Consumer loan
loss provision
as a % of         23.9    %    37.4    %    35.6    %    15.2   %    40.4    %    36.1    %
consumer loan
fees
                                                                                                            

In addition to reporting consumer loans owned by the Company and consumer
loans guaranteed by the Company, which are either generally accepted
accounting principles (“GAAP”) items or disclosures required by GAAP, the
Company has provided combined consumer loans, which is a non-GAAP measure. In
addition, the Company has reported consumer loans written and renewed, which
is statistical data that is not included in the Company’s financial
statements. The Company also reports allowances and liabilities for estimated
losses on consumer loans individually and on a combined basis, which are GAAP
measures that are included in the Company’s financial statements.

Management believes these measures provide investors with important
information needed to evaluate the magnitude of potential loan losses and the
opportunity for revenue performance of the consumer loan portfolio on an
aggregate basis. Management believes the comparison of the aggregate amounts
from period to period is more meaningful than comparing only the residual
amount on the Company’s balance sheet since both revenue and the loss
provision for loans are impacted by the aggregate amount of loans owned by the
Company and those guaranteed by the Company as reflected in its financial
statements.

                                       
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSUMER LOAN FINANCIAL AND OPERATING DATA

The following tables summarize selected data related to the Company’s consumer loan activities as
of March 31, 2013 and 2012 and for the three months ended March 31, 2013 and 2012 (dollars in
thousands, except where otherwise noted).
                                          
                                          Three Months Ended
                                          March 31,
                                          2013         2012                           
Combined consumer loan loss
provision as a % of combined              9.1        %   8.1%                           
consumer loans written and
renewed^(a)
Charge-offs (net of recoveries)
as a % of combined consumer loans        10.2       %   8.8%                           
written and renewed^(a)
Combined consumer loan loss
provision as a % of consumer loan      35.6       %  36.1%                          
fees

^(a)The disclosure regarding the amount and number of consumer loans written and renewed is
statistical data that is not included in the Company’s financial statements.

            As of March 31,
              2013                                      2012                                   
                            Guaranteed                                 Guaranteed
              Company                                    Company
                           by the        Combined^(b)                by the       Combined^(b)
              Owned^(a)                                  Owned^(a)
                            Company^(a)                                Company^(a)
Ending
consumer
loan
balances:
Retail
Services
Short-term    $ 38,747      $  4,774      $  43,521      $ 38,852      $  6,239      $  45,091
loans
Installment   9,667       9,130      18,797     7,859       6,043      13,902  
loans
Total
Retail        48,414      13,904     62,318     46,711      12,282     58,993  
Services,
gross
E-Commerce
Domestic
Short-term      28,278         29,592        57,870        28,252         28,771        57,023
loans
Line of
credit          36,955         -             36,955        20,115         -             20,115
accounts
Installment   40,292      -          40,292     22,283      -          22,283  
loans
Total
Domestic,     105,525     29,592     135,117    70,650      28,771     99,421  
gross

Foreign
Short-term      100,703        410           101,113       96,714         3,450         100,164
loans
Installment   76,826      -          76,826     45,003      -          45,003  
loans
Total
Foreign,      177,529     410        177,939    141,717     3,450      145,167 
gross
Total
E-Commerce,   283,054     30,002     313,056    212,367     32,221     244,588 
gross

Total
ending loan     331,468        43,906        375,374       259,078        44,503        303,581
balance,
gross
Less:
Allowance
and           (77,667 )    (2,095 )    (79,762 )   (58,713 )    (1,993 )    (60,706 )
liabilities
for losses
Total
ending loan  $ 253,801   $  41,811   $  295,612   $ 200,365   $  42,510   $  242,875 
balance,
net
Allowance
and
liability
for losses
as a % of     23.4    %    4.8    %    21.2    %   22.7    %    4.5    %    20.0    %
combined
consumer
loan
balances,
gross^(b)

^(a)GAAP measure. The consumer loan balances guaranteed by the Company represent loans originated
by third-party lenders through the Company's credit services organization programs (the "CSO
programs"), so these balances are not recorded in the Company’s financial statements. However,
the Company has established a liability for estimated losses in support of its guarantee of these
loans, which is reflected in the table above and included in its financial statements.
^(b)Except for allowance and liability for estimated losses, amounts represent non-GAAP measures.

             
                
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSUMER LOAN FINANCIAL AND OPERATING DATA

The following table summarizes the consumer loans written and renewed for the three months ended March 31, 2013 and
2012 (dollars in thousands, except where otherwise noted).

                Three Months Ended March 31,
                2013                                              2012
                                Guaranteed                                          Guaranteed
                Company                                             Company
                              by the           Combined^(a)                   by the           Combined^(a)
                Owned^(a)                                           Owned^(a)
                                Company^(a)(b)                                      Company^(a)(b)
Amount of
consumer
loans
written

and renewed
(dollars in
thousands):
Retail
Services
Short-term      $ 171,920       $    28,326        $  200,246       $ 175,674       $    37,367        $  213,041
loans
Installment    1,446           3,712         5,158        1,511           1,860         3,371
loans
Total
Retail         173,366         32,038        205,404      177,185         39,227        216,412
Services
E-Commerce
Domestic
Short-term        72,628             174,266          246,894         81,681             162,282          243,963
loans
Line of
credit            28,806             -                28,806          18,377             -                18,377
accounts
Installment    24,671          -             24,671       11,266          -             11,266
loans
Total          126,105         174,266       300,371      111,324         162,282       273,606
Domestic
Foreign
Short-term        266,327            13,232           279,559         240,521            17,797           258,318
loans
Installment    40,585          -             40,585       24,683          -             24,683
loans
Total          306,912         13,232        320,144      265,204         17,797        283,001
Foreign
Total          433,017         187,498       620,515      376,528         180,079       556,607
E-Commerce

Total
amount of
consumer
loans         $ 606,383     $    219,536     $  825,919     $ 553,713     $    219,306     $  773,019

written and
renewed

Number of
consumer
loans
written and
renewed (in
ones):


Retail
Services
Short-term        355,313            53,989           409,302         369,384            66,731           436,115
loans
Installment    1,396           634           2,030        1,537           277           1,814
loans
Total
Retail         356,709         54,623        411,332      370,921         67,008        437,929
Services
E-Commerce
Domestic
Short-term        243,248            235,222          478,470         245,444            219,126          464,570
loans
Line of
credit            111,651            -                111,651         70,941             -                70,941
accounts
Installment    23,185          -             23,185       10,015          -             10,015
loans
Total          378,084         235,222       613,306      326,400         219,126       545,526
Domestic

Foreign
Short-term        466,904            17,316           484,220         452,203            23,355           475,558
loans
Installment    33,075          -             33,075       21,782          -             21,782
loans
Total          499,979         17,316        517,295      473,985         23,355        497,340
Foreign
Total          878,063         252,538       1,130,601    800,385         242,481       1,042,866
E-Commerce

Total
number of
consumer       1,234,772       307,161       1,541,933    1,171,306       309,489       1,480,795
loans
written and
renewed

^(a)The disclosure regarding the amount and number of consumer loans written and renewed is statistical data that
is not included in the Company’s financial statements.
^(b)Loans guaranteed by the Company represent loans originated by third-party lenders through the CSO programs.

                                                                                                                                       
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
INCOME FROM OPERATIONS BY OPERATING SEGMENT
                   
The following tables contain operating segment data for the three months ended March 31, 2013 and 2012 by segment, for the Company’s corporate operations
and on a consolidated basis (dollars in thousands).
                                                                                                                                                  
                   Retail Services                                     E-Commerce
                   Domestic        Foreign         Total             Domestic        Foreign         Total            Corporate            Consolidated
                                                                                                                                                  
Three Months
Ended March
31, 2013
Revenue
Pawn loan fees
and service        $ 74,174         $ 1,740          $ 75,914          $ -              $ -              $ -              $ -                  $  75,914
charges
Proceeds from
disposition of       174,150          4,567            178,717           -                -                -                -                     178,717
merchandise
Consumer loan        28,322           -                28,322            90,641           91,242           181,883          -                     210,205
fees
Other             2,500         93            2,593          441           7             448           251                3,292
Total revenue     279,146       6,400         285,546        91,082        91,249        182,331       251                468,128
Cost of
revenue
Disposed             117,687          3,648            121,335           -                -                -                -                     121,335
merchandise
Consumer loan     6,778         -             6,778          29,823        38,251        68,074        -                  74,852
loss provision
Total cost of     124,465       3,648         128,113        29,823        38,251        68,074        -                  196,187
revenue
                                                                                                                                                  
Net revenue       154,681       2,752         157,433        61,259        52,998        114,257       251                271,941
Expenses
Operations and       90,702           3,603            94,305            30,755           34,827           65,582           16,937                176,824
administration
Depreciation
and               8,801         399           9,200          3,883         560           4,443         3,888              17,531
amortization
Total expenses    99,503        4,002         103,505        34,638        35,387        70,025        20,825             194,355
Income (loss)
from             $ 55,178       $ (1,250)      $ 53,928        $ 26,621       $ 17,611       $ 44,232       $ (20,574)         $  77,586
operations
As of March
31, 2013
Total assets       $ 915,772        $ 128,534        $ 1,044,306       $ 374,513        $ 185,439        $ 559,952        $ 131,189            $  1,735,447
Goodwill                                             $ 400,871                                           $ 210,369                             $  611,240
                                                                                                                                                  
                                                                                                                                                  
                     Retail Services                                     E-Commerce
                     Domestic         Foreign          Total             Domestic         Foreign          Total            Corporate          Consolidated
                                                                                                                                                  
Three Months
Ended March
31, 2012
Revenue
Pawn loan fees
and service          $    69,413      $    3,486       $     72,899      $    -           $    -           $    -           $     -            $  72,899
charges
Proceeds from
disposition of            195,986          12,397            208,383          -                -                -                 -               208,383
merchandise
Consumer loan             29,372           -                 29,372           69,124           74,344           143,468           -               172,840
fees
Other                 2,962         49             3,011         165           (6)           159            196          3,366
Total revenue         297,733       15,932         313,665       69,289        74,338        143,627        196          457,488
Cost of
revenue
Disposed                  127,128          11,193            138,321          -                -                -                 -               138,321
merchandise
Consumer loan         4,466         -              4,466         21,954        35,963        57,917         -            62,383
loss provision
Total cost of         131,594       11,193         142,787       21,954        35,963        57,917         -            200,704
revenue
Net revenue           166,139       4,739          170,878       47,335        38,375        85,710         196          256,784
Expenses
Operations and            91,259           8,194             99,453           23,816           26,723           50,539            20,163          170,155
administration
Depreciation
and                   7,132         1,128          8,260         2,612         263           2,875          3,486        14,621
amortization
Total expenses        98,391        9,322          107,713       26,428        26,986        53,414         23,649       184,776
Income (loss)
from              $    67,748    $    (4,583)   $     63,165    $    20,907    $    11,389    $    32,296    $     (23,453)   $  72,008
operations
As of March
31, 2012
Total assets         $    844,689     $    123,245     $     967,934     $    339,199     $    143,757     $    482,956     $     131,847      $  1,582,737
Goodwill                                               $     357,459                                       $    210,371                        $  567,830

Corporate operations primarily include corporate expenses, such as legal,
occupancy, and other costs related to corporate service functions, such as
executive oversight, insurance and risk management, public and government
relations, internal audit, treasury, payroll, compliance and licensing,
finance, accounting, tax and information systems (except for online lending
systems, which are included in the e-commerce segment). Corporate income
includes miscellaneous income not directly attributable to the Company’s
segments. Corporate assets primarily include corporate property and equipment,
nonqualified savings plan assets, marketable securities, foreign exchange
forward contracts and prepaid insurance.


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
LOCATION INFORMATION


Retail Services Segment

The following table sets forth the number of domestic and foreign
Company-owned and franchised locations in the Company’s retail services
segment offering pawn lending, consumer lending, and other ancillary services
as of March 31, 2013 and 2012. The Company’s domestic retail services
locations operate under the names “Cash America Pawn,” “SuperPawn,” “Cash
America Payday Advance,” “Cashland” and “Mr. Payroll.” In addition, certain
recently acquired domestic retail services locations operate under various
names that are expected to be changed to “Cash America Pawn” or “SuperPawn”
during 2013. The Company’s foreign retail services locations operate under the
name “Cash America casa de empeño.”

            As of March 31,
              2013                                 2012
              Domestic^(a)   Foreign   Total     Domestic^(a)(b)   Foreign   Total
Retail
services
locations
offering:
Both pawn
and           580              -           580       574                 -           574
consumer
lending
Pawn
lending       167              47          214       127                 193         320
only
Consumer
lending       81               -           81        85                  -           85
only
Other       91             -         91      101               -         101
^(c)
Total
retail      919            47        966     887               193       1,080
services
                                                                                     
^(a) Except as described in (c) below, includes locations operating in 22 and 23 states in
the United States as of March 31, 2013 and 2012, respectively.
^(b) Includes one unconsolidated franchised location operating under the name “Cash
America Pawn” as of March 31, 2012.
^(c) As of March 31, 2013 and 2012, includes 91 and 95 unconsolidated franchised check
cashing locations, respectively and as of March 31, 2012 includes six consolidated
Company-owned check cashing locations. As of March 31, 2013 and 2012, includes locations
operating in 15 and 16 states in the United States, respectively.

E-Commerce Segment

As of March 31, 2013 and 2012, the Company’s e-commerce segment operated in 32
states in the United States and in three other foreign countries:

  *in the United States at http://www.cashnetusa.com and
    http://www.netcredit.com,
  *in the United Kingdom at http://www.quickquid.co.uk and 
    http://www.poundstopocket.co.uk,
  *in Australia at http://www.dollarsdirect.com.au, and
  *in Canada at http://www.dollarsdirect.ca.

As of March 31, 2013, the Company also offered a line of credit product in
Mexico under the trade name “Debit Plus.” The Company plans to cease offering
this line of credit product in Mexico during the second quarter of 2013. The
results of operations associated with this product are not material to the
e-commerce segment or to the Company.


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NON-GAAP DISCLOSURE
ADJUSTED EARNINGS AND ADJUSTED EARNINGS PER SHARE


Adjusted Earnings and Adjusted Earnings Per Share

In addition to reporting financial results in accordance with GAAP, the
Company has provided adjusted earnings and adjusted earnings per share, which
are non-GAAP measures. Management believes that the presentation of these
measures provides investors with greater transparency and facilitates
comparison of operating results across a broad spectrum of companies with
varying capital structures, compensation strategies, derivative instruments
and amortization methods, which provides a more complete understanding of the
Company’s financial performance, competitive position and prospects for the
future. Management also believes that investors regularly rely on non-GAAP
financial measures, such as adjusted earnings and adjusted earnings per share,
to assess operating performance and that such measures may highlight trends in
the Company’s business that may not otherwise be apparent when relying on
financial measures calculated in accordance with GAAP.

The following table provides a reconciliation for the three months ended March
31, 2013 and 2012 between net income attributable to the Company and diluted
earnings per share calculated in accordance with GAAP to adjusted earnings and
adjusted earnings per share, respectively, which are shown net of tax (dollars
in thousands, except per share data):

                       Three Months Ended March 31,
                            2013                     2012
                                        Per Diluted                  Per
                          $                           $            Diluted
                                        Share^(a)
                                                                     Share^(a)
                                                                         


Net income and
diluted earnings          $  43,926     $    1.40      $  41,467     $   1.30
per share
attributable to
Cash America
International, Inc.
Adjustments (net of
tax):
Intangible asset             832             0.03         738            0.02
amortization
Non-cash
equity-based                 988             0.03         972            0.03
compensation
Convertible debt
non-cash interest            626             0.02         581            0.02
and issuance cost
amortization
Foreign currency
transaction loss          238           0.01       (54)         -
(gain)
Adjusted earnings
and adjusted            $  46,610    $    1.49     $  43,704    $   1.37
earnings per share
                                                                         
^(a) Diluted shares are calculated by giving effect to the potential dilution
that could occur if securities or other contracts to issue common shares were
exercised and converted into common shares during the period.


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NON-GAAP DISCLOSURE
ADJUSTED EBITDA


Adjusted EBITDA

The table below shows adjusted EBITDA, a non-GAAP measure that the Company
defines as earnings excluding depreciation, amortization, interest, foreign
currency transaction gains or losses, equity in earnings or loss of
unconsolidated subsidiary and provision for income taxes and including the net
income or loss attributable to noncontrolling interests. Management believes
adjusted EBITDA is used by investors to analyze operating performance and
evaluate the Company’s ability to incur and service debt and its capacity for
making capital expenditures. Adjusted EBITDA is also useful to investors to
help assess the Company’s liquidity and estimated enterprise value. In
addition, management believes that the adjustments shown below, especially the
adjustments for charges related to events that occurred during the third and
fourth quarters of 2012, such as the withdrawn proposed initial public
offering of the Company’s wholly-owned subsidiary, Enova International, Inc.,
the reorganization of the Company’s Mexico-based pawn operations, and the
voluntary reimbursements to Ohio customers are useful to investors in order to
allow them to compare the Company’s financial results for the current and
prior year trailing 12 months. The computation of adjusted EBITDA as presented
below may differ from the computation of similarly-titled measures provided by
other companies (dollars in thousands):

                               Trailing 12 Months Ended
                                March 31,
                                2013                       2012
Net income attributable to
Cash America                       $   109,929               $   141,052

International, Inc.

Adjustments:
Charges related to
withdrawn proposed Enova                3,424                      -
IPO^(a)
Charges related to Mexico               28,873                     -
Reorganization^(b)
Charges related to Ohio                 13,400                     -
Reimbursements^(c)
Depreciation and                        65,774      ^(d)           56,328
amortization expenses
Interest expense, net                   29,222                     27,005
Foreign currency                        777                        1,082
transaction loss
Equity in loss of                       289                        217
unconsolidated subsidiary
Provision for income taxes              78,981      ^(e)           84,916
Net loss attributable to
the noncontrolling                   (4,866)     ^(f)         (1,150)
interest
Adjusted EBITDA                   $   325,803              $   309,450

Adjusted EBITDA margin
calculated as follows:
Total revenue                       $   1,811,070              $   1,675,688
Adjusted EBITDA                      325,803                 309,450
Adjusted EBITDA as a
percentage of total                  18.0%                   18.5%
revenue
                                                                   
^(a) Represents charges directly related to the proposed Enova IPO that was
withdrawn in July 2012, before tax benefit of $1.3 million.
^(b) Represents charges related to the Mexico Reorganization, before tax
benefit of $1.2 million and noncontrolling interest of $2.3 million. Includes
$12.6 million and $7.2 million of depreciation and amortization expenses and
charges for the recognition of a deferred tax asset valuation allowance,
respectively, as noted in (d) and (e) below.
^(c) Represents charges related to the Ohio Reimbursements, before tax benefit
of $5.0 million.
^(d) Excludes $12.6 million of depreciation and amortization expenses, which
are included in “Charges related to the Mexico Reorganization” in the table
above.
^(e) Excludes a $7.2 million charge for the recognition of a deferred tax
asset valuation allowance, which is included in “Charges related to the Mexico
Reorganization” in the table above. Includes an income tax benefit related to
the Mexico Reorganization of $1.2 million.
^(f) Includes $2.3 million of noncontrolling interests related to the Mexico
Reorganization.


CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NON-GAAP DISCLOSURE


Non-GAAP Disclosure

In addition to the financial information prepared in conformity with GAAP the
Company provides historical non-GAAP financial information. Management
believes that presentation of non-GAAP financial information is meaningful and
useful in understanding the activities and business metrics of the Company’s
operations. Management believes that these non-GAAP financial measures reflect
an additional way of viewing aspects of the Company’s business that, when
viewed with its GAAP results, provide a more complete understanding of factors
and trends affecting its business.

Management provides non-GAAP financial information for informational purposes
and to enhance understanding of the Company’s GAAP consolidated financial
statements. Readers should consider the information in addition to, but not
instead of or superior to, its financial statements prepared in accordance
with GAAP. This non-GAAP financial information may be determined or calculated
differently by other companies, limiting the usefulness of those measures for
comparative purposes.

Contact:

Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100
 
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