DFC Global Corp. Announces Fiscal Third Quarter 2013 Results

  DFC Global Corp. Announces Fiscal Third Quarter 2013 Results

                  Revenue Increased 5.0% to $283.6 Million;

                Diluted Operating Earnings Per Share of $0.24;

               Company Launches Internet Loan Product in Spain

Business Wire

BERWYN, Pa. -- May 1, 2013

DFC Global Corp. (NASDAQ: DLLR), a leading international diversified financial
services company serving primarily unbanked and under-banked consumers for
over 30 years, today announced its results for the fiscal third quarter ended
March 31, 2013.

Fiscal Year 2013 Third Quarter Highlights

  *Total consolidated revenue was $283.6 million for the quarter, an increase
    of 5.0%, or $13.6 million, compared to the prior-year period. On a
    constant currency basis, total consolidated revenue increased 5.8%.
  *Total unsecured consumer lending revenue was $181.7 million for the
    quarter, representing an increase of $20.4 million, or 12.5%, on a
    constant currency basis compared to the prior-year period. Revenue from
    internet-based loans was $75.5 million for the quarter, representing an
    increase of $9.5 million, or 14.2%, on a constant currency basis compared
    to the prior-year period.
  *Total revenue from pawn lending for the quarter was $21.4 million, an
    increase of $0.3 million on a constant currency basis. Pawn lending
    revenue was unfavorably impacted by a year-over-year decline in gold
    prices.
  *Consolidated adjusted EBITDA was $55.1 million for the three months ended
    March 31, 2013 compared to $76.2 million for the prior-year period. On a
    constant currency basis, consolidated adjusted EBITDA decreased by $20.8
    million compared to the prior-year period.
  *Diluted pro forma operating earnings per share was $0.24 for the fiscal
    2013 third quarter compared to $0.54 for the prior-year period.
  *Company reaffirms fiscal 2013 pro forma diluted operating earnings
    guidance of $1.70 to $1.80 per share.
  *The Company’s GAAP earnings were impacted by one-time restructuring and
    other charges for employee severance and other costs related to the
    reorganization of the Company’s business operations between global retail
    and internet platforms, in addition to a goodwill and intangible asset
    write-down associated with the Dealers’ Financial Services business as a
    result of a delay in the Company’s negotiations with new potential lending
    partners who would underwrite future MILES program loans.
  *The Company repurchased 230,000 shares of its common stock at an average
    share price of $17.26 during the three months ended March 31, 2013.

“As we previously reported, our financial results for the fiscal third quarter
were significantly impacted by the transition to the new responsible lending
guidelines in the United Kingdom, which were developed in consultation with
the local regulatory authorities and our industry association members,” said
Jeff Weiss, the Company’s Chairman and Chief Executive Officer. “As a result
of the temporary ‘credit crunch’ for customers with multiple loans, which was
caused by adhering to these new guidelines, we experienced higher loan
defaults in our U.K. business during the fiscal third quarter, clearly
affecting our bottom line. In response, we further tightened our lending
underwriting criteria to minimize the risk to our business, which naturally
reduced our loan growth in the United Kingdom during this period. Despite
these issues, strong demand for consumer loans across our geographies enabled
our overall consolidated loan portfolio during the fiscal third quarter to
increase 13.7% from the prior-year period. We have begun to see moderate
sequential quarter growth in our unsecured loan book in the United Kingdom as
we began the fiscal fourth quarter.”

“Throughout my more than twenty years with the Company, we have had to
navigate through regulatory changes in both the United States and Canada,”
continued Mr. Weiss. “In each case, our multi-product business model provided
us with the necessary flexibility to successfully adapt to the changing
operating environments. We believe the regulatory transition in the United
Kingdom is comparable to what we have previously faced in our other markets.
Similar to Canada and the United States, we fully expect our U.K. business
will reemerge from this transition a much stronger business even better
positioned against our competitors.”

Concluded Mr. Weiss, “During the fiscal third quarter, we continued to invest
in the future growth of our global business. In March, we began offering
internet loans in Spain – population of 47 million – through our Finland-based
(Risicum) internet lending platform. Thus far, the demand for short-term
consumer loans in Spain has exceeded our expectations, but we are currently
moderating the growth of our loan book in that market until we develop a
longer history of credit performance. We believe there is a significant
opportunity in Spain to expand our internet loan product alongside our
store-based pawn lending and gold buying business. Along those lines, we are
about to open our first ‘Suttons and Robertsons’ high-end pawn lending store
in Madrid. The ‘Suttons & Robertsons’ branded stores provide larger pawn loans
on high-value gold jewelry, diamonds, watches and artwork to higher income
customers that generally have irregular cash flows or temporary liquidity
issues.”

Fiscal 2013 Third Quarter Financial Results

For the quarter ended March 31, 2013, the Company recorded revenue of $283.6
million, an increase of 5.8% on a constant currency basis compared to the
prior-year period. Total unsecured consumer lending revenue was $181.7
million, up 12.5% on a constant currency basis over the prior-year period, and
includes revenue from internet-based loans of $75.5 million, an increase of
14.2% on a constant currency basis compared to the prior-year period. Secured
pawn lending contributed revenue of $21.4 million, an increase of 1.2%
compared to the prior-year period, excluding the impact of currency exchange
rates.

The consolidated loan loss provision, expressed as a percentage of gross
consumer lending revenue, was 27.4% for the quarter ended March 31, 2013
compared to 20.6% for the prior-year period. The loan loss provision for the
quarter was significantly impacted by higher loan defaults in the United
Kingdom resulting from the recently implemented three loan roll-over
limitation, and a change in estimate to the loan loss provision for customers
placed on payment plans following three roll-overs. The Company believes
customer loan default rates will improve moderately on a sequential quarter
basis for the fiscal quarter ending June 30, 2013. As a percentage of loan
originations or principal lent, the consolidated loan loss provision for the
quarter ended March 31, 2013 was 6.5%.

For the three months ended March 31, 2013, the Company incurred $46.9 million
of net one-time charges, which include a $31.1 million goodwill and intangible
asset write-down associated with the present diminished value of the Dealers’
Financial Services business (DFS). The Consumer Financial Protection Bureau
(CFPB) examination discussed below delayed the Company’s negotiations with
other potential lending partners that the Company believes will more
competitively underwrite future MILES program loans, which was the impetus for
the goodwill and intangible asset devaluation. The discussions with these new
potential lending partners have recently been restarted. The Company also
incurred $7.0 million of one-time restructuring and other charges for employee
severance and other costs related to the reorganization of the Company’s
business operations between global retail and internet platforms.

DFS has been informed by the CFPB that it intends to initiate an
administrative proceeding against DFS relating to its marketing of certain
vehicle service and insurance products and to the requirement that MILES
program loans be repaid via a military allotment. DFS has cooperated in the
CFPB examination, and intends to seek to negotiate a consent order (without
admitting or denying any violations) resolving the matter. It is expected that
any consent order would provide for MILES program disclosure and other changes
and would include a restitution fund for certain MILES program customers.
There is no assurance that a consent order will be successfully negotiated, or
as to its terms, and there is therefore no assurance that this matter will not
materially and adversely affect the MILES program.

Collectively, including the $46.9 million of net one-time charges for the
three months ended March 31, 2013, and $9.0 million of net one-time gains for
the quarter ended March 31, 2012, the loss before income taxes on a GAAP basis
was $35.7 million for the fiscal 2013 third quarter compared to income before
income taxes of $41.2 million for the prior-year period, resulting in a net
loss of $36.4 million for the fiscal 2013 third quarter compared to net income
of $31.8 million for the prior-year period. Diluted loss per share on a GAAP
basis was $0.86 for the fiscal 2013 third quarter compared to diluted earnings
per share of $0.70 for the prior-year period.

With respect to the Company’s operating earnings, excluding the net one-time
charges and gains for both periods, pro forma income before income taxes was
$15.2 million for the fiscal 2013 third quarter, compared to pro forma income
before income taxes of $36.1 million for the prior-year period. Considering a
pro forma effective income tax rate from operations of 32.0%, diluted
operating earnings per share was $0.24 for the fiscal 2013 third quarter
compared to $0.54 for the prior-year period. A table reconciling pro forma
income before income taxes and diluted operating earnings per share to GAAP
basis income before income taxes and GAAP basis diluted earnings per share is
included at the back of this News Release.

Fiscal Year 2013 Outlook

The Company is reaffirming its revised earnings guidance range for fiscal year
2013, previously announced on April 1, 2013, for diluted operating earnings
per share, which excludes any one-time charges or gains that may occur, the
non-cash impact of ASC-470-20, and the non-cash amortization associated with
the legacy cross-currency interest rate swap agreements, of between $1.70 and
$1.80 per share.

Company Liquidity

As of March 31, 2013, the Company had drawn $22.6 million of its $235.0
million global revolving credit facility. Furthermore, as of March 31, 2013,
the Company had drawn £5.3 million of its £6.0 million credit facilities in
the United Kingdom, and had drawn SEK 30.0 million and EUR 12.7 million of its
total SEK 125.0 million and EUR 18.8 million credit facilities in Scandinavia.

The Company had $61.0 million of excess investible cash on its balance sheet
at March 31, 2013. The Company also repurchased 230,000 shares of its common
stock at an average share price of $17.26 during the three months ended March
31, 2013. Under its current stock repurchase plan, as of April 1, 2013, the
Company is authorized to purchase an additional 2.2 million shares of its
common stock.

Investors Conference Call

The Company will be holding an investor’s conference call on May 1, 2013 at
5:00 pm ET to discuss its results for the fiscal third quarter ended March 31,
2013, its guidance for fiscal year 2013 and U.K. regulatory developments.
Investors can participate in the conference call by dialing (800) 310-8725
(U.S. and Canada) or (719) 325-2282 (International); use the confirmation code
“9079327”. Hosting the call will be Jeffrey A. Weiss, Chairman and CEO, and
Randy Underwood, Executive Vice President and CFO. For your convenience, the
conference call can be replayed in its entirety beginning from two hours after
the end of the call through May 8, 2013. If you wish to listen to the replay
of this conference call, please dial (877) 870-5176 (U.S. and Canada) or (858)
384-5517 (International) and enter passcode “9079327.”

The conference call will also be broadcast live through a link on the Investor
Relations page on the Company’s web site at http://www.dfcglobalcorp.com.
Please go to the web site at least 15 minutes prior to the call to register,
download and install any necessary audio software.

About DFC Global Corp.

DFC Global Corp. is a leading international diversified financial services
company serving primarily unbanked and under-banked consumers who, for reasons
of convenience and accessibility, purchase some or all of their financial
services from the Company rather than from banks and other financial
institutions. As of March 31, 2013, the Company’s global retail operations
consisted of 1,457 retail storefront locations, of which 1,420 are
company-owned stores, conducting business primarily under the names The Money
Shop^®, Money Mart^®, Insta-Cheques^®, Suttons and Robertsons^®, The Check
Cashing Store^®, Sefina^®, Helsingin Pantti^SM, ^ Optima^®, MoneyNow!^®, and
Super Efectivo^®. In addition to its retail stores, the Company also offers
Internet-based short-term single-payment consumer loans in the United Kingdom
primarily under the brand names Payday Express^® and PaydayUK^®, in Canada
under the Money Mart name, in Finland, Sweden, Poland, Czech Republic and
Spain under the Risicum^®, OK Money^® and MoneyNow!^® brand names. For more
information, please visit the Company's website at www.dfcglobalcorp.com.

The Company’s products and services, principally its short-term single-payment
consumer loans, secured pawn loans, check cashing services and gold buying
services, provide customers with immediate access to cash for living expenses
or other needs. The Company strives to offer its customers additional
high-value ancillary services, including Western Union^® money order and money
transfer products, foreign currency exchange, reloadable VISA^® and
MasterCard^® prepaid debit cards and electronic tax filing. In addition to its
core retail products, the Company also provides fee-based services in the
United States to enlisted military personnel applying for loans to purchase
new and used vehicles that are funded and serviced under agreements with
third-party lenders through the Company’s branded Military Installment Loan
and Education Services, or MILES^® program.

Forward-Looking Statements

This news release contains forward-looking statements, including, among other
things, statements regarding the following: pending or recent acquisitions and
their expected benefits; the Company’s future results, growth, guidance and
operating strategy; the global economy; the effects of currency exchange rates
on reported operating results; the regulatory environment in Canada, the
United Kingdom, the United States, Scandinavia and other countries; the
resolution of the CFBP’s examination of the MILES program; the impact of
future development strategy, new stores and acquisitions; litigation matters;
financing initiatives; and the performance of new products and services. These
forward-looking statements involve risks and uncertainties, including risks
related to: the regulatory environments, including reviews of our operations
by the CFPB in the U.S. and the Office of Fair Trading in the U.K., and the
effect of legislation in Finland that will restrict our current business in
that country; current and potential future litigation; the identification of
acquisition targets; the consummation of pending acquisitions; the integration
and performance of acquired stores and businesses; the performance of new
stores and internet businesses; the impact of debt and equity financing
transactions; the results of certain ongoing income tax appeals; the effects
of new products and services on the Company’s business, results of operations,
financial condition, prospects and guidance; the effect of the termination of
our relationship with the third-party national bank that currently funds a
portion of the MILES program loans and our ability to replace such lending
source on acceptable terms; and uncertainties related to the effects of
changes in the value of the U.S. Dollar compared to foreign currencies. There
can be no assurance that the Company will attain its expected results,
successfully consummate pending acquisitions, successfully integrate and
achieve anticipated synergies from any of its acquisitions, obtain acceptable
financing, or attain its published guidance metrics, or that ongoing and
potential future litigation or the various FDIC, CFPB, U.S. Federal or state,
U.K., Canadian, Scandinavian, European Union, or other foreign legislative or
regulatory activities affecting the Company or the banks with which the
Company does business will not negatively impact the Company’s operations. A
more complete description of these and other risks, uncertainties and
assumptions is included in the Company’s filings with the Securities and
Exchange Commission, including those described under the heading “Risk
Factors” on the Company’s Annual Report on Form 10-K for the Company’s fiscal
year ended June 30, 2012. You should not place any undue reliance on any
forward-looking statements. The Company disclaims any obligation to update any
such factors or to publicly announce results of any revisions to any of the
forward-looking statements contained herein to reflect future events or
developments.

Presentation of Information in this Press Release

In an effort to provide investors with additional information regarding the
Company’s results, the Company has also disclosed in this press release the
following information which management believes provides useful information to
investors:

  *Selected local currency results (the reported results for each country in
    their respective native currencies).
  *Constant currency results (the Company calculates constant currency
    operating results by comparing current period operating results with prior
    period operating results, with both periods converted at the currency
    exchange rates for the prior period).
  *Pro forma operating results excluding one-time and non-cash charges and
    credits and adjusted for pro forma effective income tax rates.

                                                              
DFC GLOBAL CORP.
UNAUDITED CONSOLIDATED BALANCE SHEETS
(In millions)
                                                                   
                                                   June 30,        March 31,
                                                   2012            2013
Assets:
Cash and cash equivalents                          $ 224.0         $ 207.3
Consumer loans, net:
Consumer loans                                       206.4           231.4
Less: Allowance for loan losses                     (19.8   )      (34.4   )
Consumer loans, net                                  186.6           197.0
Pawn loans                                           153.9           165.3
Loans in default, net                                29.6            27.9
Prepaid expenses and other current assets            83.8            84.3
Fair value of derivatives                            -               3.0
Deferred tax assets, net                             22.0            21.4
Property and equipment, net                          120.6           121.1
Goodwill and other intangibles, net                  902.8           867.4
Debt issuance costs, net and other assets           43.2          41.8    
                                                                   
Total Assets                                       $ 1,766.5      $ 1,736.5 
                                                                   
Liabilities:
Accounts and income taxes payable                  $ 67.8          $ 66.0
Accrued expenses and other liabilities               152.4           161.1
Fair value of derivatives                            11.2            1.1
Deferred tax liability                               62.3            61.6
Revolving credit facilities and other                73.7            36.7
short-term debt
Total long-term debt                                938.9         976.5   
Total Liabilities                                   1,306.3       1,303.0 
                                                                   
Stockholders' Equity:
Additional paid-in capital                           491.5           468.9
Retained earnings (accumulated deficit)              (0.8    )       (8.9    )
Accumulated other comprehensive loss                (29.4   )      (26.5   )
Total DFC Global Corp. Stockholders' Equity          461.3           433.5
Non-controlling interest                            (1.1    )      -       
Total Stockholders' Equity                          460.2         433.5   
Total Liabilities and Stockholders' Equity         $ 1,766.5      $ 1,736.5 
                                                                             

                      
DFC GLOBAL CORP.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions except per share amounts)
                                                             
                                                                    
                         Three Months Ended           Nine Months Ended
                         March 31,                    March 31,
                          2012        2013         2012        2013   
                                                                    
Revenues:
Fees from consumer       $ 163.0       $ 181.7        $ 479.7       $ 549.8
lending
Check cashing fees         35.3          31.9           106.2         97.4
Pawn service fees          21.0          21.4           62.3          62.8
and sales
Purchased gold sales       18.6          17.8           52.5          51.0
Money transfer fees        9.4           8.4            28.8          27.9
Other                     22.7        22.4         65.5        64.3   
Total revenues            270.0       283.6        795.0       853.2  
                                                                    
Operating expenses:
Salaries and               56.9          61.3           164.9         181.0
benefits
Provision for loan         33.6          49.7           96.9          128.2
losses
Occupancy costs            15.8          17.6           45.6          51.4
Advertising                12.2          18.5           40.2          50.4
Depreciation               5.6           6.5            16.2          19.9
Bank charges and
armored carrier            5.5           5.9            16.2          17.5
services
Maintenance and            4.4           4.6            12.5          13.3
repairs
COGS - purchased           15.4          15.3           41.8          40.4
gold
Other                     24.8        31.3         72.2        84.4   
Total operating           174.2       210.7        506.5       586.5  
expenses
Operating margin          95.8        72.9         288.5       266.7  
                                                                    
Corporate and other
expenses:
Corporate expenses         30.4          27.9           91.1          91.4
Interest expense,          25.0          28.4           73.7          91.3
net
Other depreciation         6.5           6.1            19.5          18.8
and amortization
Unrealized foreign         (11.8 )       2.1            18.3          0.4
exchange (gain) loss
(Gain) loss on
derivatives not            6.4           -              (6.3  )       -
designated as hedges
Goodwill and
intangible assets          -             31.1           -             36.6
impairment charge
Provision for
litigation                 -             -              4.0           2.7
settlements
Loss on store             (1.9  )      13.0         (0.8  )      13.0   
closings and other
Income (loss) before
income taxes (incl.        41.2          (35.7  )       89.0          12.5
non-controlling
interest)
Income tax provision      9.4         0.7          32.5        20.6   
Net income (loss)        $ 31.8       $ (36.4  )     $ 56.5       $ (8.1   )
                                                                    
Net income (loss)
per share
Basic                    $ 0.72          ($0.86 )     $ 1.29          ($0.19 )
Diluted                  $ 0.70          ($0.86 )     $ 1.24          ($0.19 )
                                                                    
Weighted average
shares outstanding
Basic                      44.1          42.1           43.9          42.8
Diluted                    45.2          42.1           45.5          42.8
                                                                    

Revenue Breakdown by Channel and Product
              
                Revenue By Channel ($M)
                Three Months Ended March 31, 2013
                                               Year-over-Year
                                                     Constant Currency Growth
                Retail/                              Retail/             
Region          Other       Internet     Total       Other       Internet     Total
                                                                              
United          $ 79.6      $  62.9      $ 142.5     8.0   %     13.1  %      10.2 %
Kingdom
                                                                              
Canada            78.7         2.5         81.2      0.5   %     80.4  %      1.9  %
                                                                              
United            34.2         N/A         34.2      -6.1  %     N/A          -6.1 %
States
                                                                              
Continental       15.6         10.1        25.7      15.4  %     11.0  %      13.6 %
Europe
                                                                         
Total           $ 208.1     $  75.5      $ 283.6     3.1   %     14.2  %      5.8  %
Revenue
                                                              

              
                Revenue By Product ($M)
                Three Months Ended March 31, 2013
                                                       Year-over-Year Constant Currency
                                                            Growth
                Unsecured   Pawn      Other                 Unsecured  Pawn            
Region          Lending     Lending   Products   Total      Lending     Lending   Other    Total
                                                                        (1)       (2)
                                                                                           
United          $103.1      $11.5     $27.9      $142.5     14.1%       2.0%      0.9%     10.2%
Kingdom
                                                                                           
Canada          48.1        0.1       33.0       81.2       10.7%       N/M       -8.7%    1.9%
                                                                                           
United          16.7        N/M       17.5       34.2       7.3%        N/M       -16.0%   -6.1%
States
                                                                                           
Continental     13.8        9.8       2.1        25.7       13.8%       -0.4%     240.8%   13.6%
Europe
                                                                                    
Total           $181.7      $21.4     $80.5      $283.6     12.5%       1.2%      -5.7%    5.8%
Revenue
                                                                            

    1)  Gold price decline unfavorably impacted pawn lending revenue
             during the quarter.
             Primary driver of lower revenue is decreased purchased gold sales
        2)   in U.S., Canada and U.K., and lower loans for the U.S. based DFS
             Military Lending Services business.
             

Pro forma Net Income Reconciliation

Pro forma net income and operating earnings per share are not items prepared
in accordance with GAAP. The Company defines pro forma net income as net
income adjusted to exclude one-time and non-cash charges and credits as
described below, and diluted operating earnings per share as pro forma net
income divided by weighted average diluted shares outstanding. The Company
presents pro forma net income and diluted operating earnings per share as
indications of its financial performance excluding one-time and other net
non-cash charges and to show comparative results of its operations. Not all
companies calculate pro forma net income or diluted operating earnings per
share in the same fashion, and therefore these amounts as presented may not be
comparable to other similarly titled measures of other companies. The table
below reconciles income before income taxes as reported on the Company’s
Unaudited Consolidated Statements of Operations to pro forma net income
(dollars in millions) and diluted operating earnings per share:


DFC GLOBAL CORP.
PRO FORMA NET INCOME (excluding one-time items & effects of ASC 470-20)
(In millions except per share amounts)
                                                            
                           Three Months Ended          Nine Months Ended
                           March 31,                   March 31,
                           2012          2013          2012          2013
                                                                     
Income (loss) before
income taxes (incl.        $ 41.2        $ (35.7 )     $ 89.0        $ 12.5
non-controlling
interest)
                                                                     
Pro forma adjustments:
Non-cash interest on
convertible debt (ASC        2.3           4.0           6.9           13.2
470-20)
Unrealized foreign           (11.8 )       2.1           18.3          0.4
exchange (gain) loss
Non-cash impact of           2.0           -             (19.8 )       -
hedge ineffectiveness
Goodwill and other
intangible assets            -             31.1          -             36.6
impairment charge
Cross-currency swap          1.6           -             4.9           2.2
amortization
Provision for                -             -             4.0           2.7
litigation settlements
Acquisition costs            0.8           0.9           2.9           1.8
expensed
Restructuring and            -             7.0           -             7.0
other charges
Other items, net            -           5.8         0.7         5.2   
Pro forma income             36.1          15.2          106.9         81.6
before income taxes
Pro forma income taxes
(33% for 2012; 32% for      11.9        4.9         35.3        26.1  
2013)
Pro forma net income       $ 24.2       $ 10.3       $ 71.6       $ 55.5  
                                                                     
                                                                     
Weighted average
diluted shares              45.2        43.2        45.5        43.9  
outstanding
                                                                     
Diluted operating          $ 0.54       $ 0.24       $ 1.57       $ 1.26  
earnings per share
                                                                     
Diluted GAAP earnings      $ 0.70       $ (0.86 )     $ 1.24       $ (0.19 )
(loss) per share
                                                                             

Adjusted EBITDA Reconciliation

Adjusted EBITDA is not a financial measure prepared in accordance with GAAP.
The Company defines Adjusted EBITDA as earnings before interest expense,
income tax provision, depreciation and amortization, stock-based compensation
expense, loss on store closings, litigation settlements, and other items
described below. The Company presents Adjusted EBITDA as an indication of
operating performance, as well as its ability to service its future debt and
capital expenditure requirements. Adjusted EBITDA does not indicate whether
the Company’s cash flow will be sufficient to fund all of its cash needs.
Adjusted EBITDA should not be considered in isolation or as a substitute for
net income, cash flows from operating activities, or other measures of
operating performance or liquidity determined in accordance with GAAP. Not all
companies calculate Adjusted EBITDA in the same fashion, and therefore these
amounts as presented may not be comparable to other similarly titled measures
of other companies. The table below reconciles income before income taxes as
reported on the Company’s Unaudited Consolidated Statements of Operations to
Adjusted EBITDA (dollars in millions):

                                                    
                             Three Months Ended          Nine Months Ended
                             March 31,                   March 31,
                             2012        2013          2012        2013
                                                                       
Income (loss) before
income taxes (incl.          $ 41.2        $ (35.7 )     $ 89.0        $ 12.5
non-controlling
interest)
                                                                       
Add:
Depreciation and               12.1          12.6          35.7          38.7
amortization
Interest expense, net          25.0          28.4          73.7          91.3
Stock based compensation       2.8           3.0           7.8           9.3
expense
Unrealized foreign             (11.8 )       2.1           18.3          0.4
exchange (gain) loss
(Gain) loss on
derivatives not                6.4           -             (6.3  )       -
designated as hedges
Goodwill and other
intangible assets              -             31.1          -             36.6
impairment charge
Provision for litigation       -             -             4.0           2.7
settlements
Acquisition costs              0.8           0.9           2.9           1.8
expensed
Restructuring and other        -             7.0           -             7.0
charges
Other items, net              (0.3  )      5.7         0.1         4.9
Adjusted EBITDA              $ 76.2       $ 55.1       $ 225.2      $ 205.2
                                                                         

                                   
DFC GLOBAL CORP.
UNAUDITED STORE DATA
                                                                  
                                      Three Months Ended     Nine Months Ended
                                      March 31,              March 31,
                                      2012         2013      2012        2013
De novo Store Builds
United States                         1            0         1           0
Canada                                4            0         10          4
United Kingdom                        24           11        62          30
Poland                                0            5         4           16
Spain                                 0            4         0           7
Sweden                                0            0         2           0
Finland                               0            0         1           0
Total                                 29           20        80          57
                                                                         
Acquired Stores
United States                         0            0         0           0
Canada                                6            2         8           4
United Kingdom                        1            0         16          31
Poland                                0            0         0           0
Spain                                 8            0         8           0
Sweden                                0            0         0           0
Finland                               0            0         0           0
Total                                 15           2         32          35
                                                                         
Closed Stores
United States                         1            6         7           11
Canada                                0            5         0           5
United Kingdom                        0            0         1           1
Poland                                0            0         0           0
Spain                                 0            0         0           0
Sweden                                0            0         0           0
Finland                               0            0         0           0
Total                                 1            11        8           17
                                                                         
Ending Company-Operated Stores
United States                         306          293       306         293
Canada                                473          477       473         477
United Kingdom                        477          575       477         575
Poland                                7            25        7           25
Spain                                 8            15        8           15
Sweden                                18           22        18          22
Finland                               13           13        13          13
Total Ending Company-Operated         1,302        1,420     1,302       1,420
Stores
                                                                         
Ending Franchise/Agent Stores
Canada                                14           10        14          10
U.K.                                  45           27        45          27
Total Ending Franchise/Agent          59           37        59          37
Stores
                                                                         
Total Ending Store Count              1,361        1,457     1,361       1,457

Contact:

ICR
Investor Relations:
Garrett Edson, 484-320-5800
or
Media:
Phil Denning, 203-682-8200
 
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