cash america intl inc (CSH) Key Developments
Cash America International, Inc. announced delayed annual 10-K filing
Mar 2 15
On 03/02/2015, Cash America International, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Cash America International, Inc. Promotes T. Brent Stuart to the Position of Executive Vice President-Chief Operating Officer
Feb 3 15
On January 28, 2015, the Board of Directors of Cash America International, Inc. promoted Mr. T. Brent Stuart to the position of Executive Vice President-Chief Operating Officer. Mr. Stuart served as the Senior Vice President - Operations for the Company's U.S. retail services storefront lending business from July 2010 to January 2015 and Regional Vice President from November 2008 to July 2010. Prior to joining the Company, Mr. Stuart held various senior leadership roles in the financial services industry, including the position of Vice President with Fremont Investment and Loan from 2006 to 2008, Senior Vice President with Nationstar Mortgage from 2004 to 2006 and Vice President with Novastar Finanical, Inc. from 2002 to 2004. He also held various leadership positions with CitiFinancial from 1994 to 2002.
Cash America International, Inc. Declares Quarterly Dividend, Payable on February 25, 2015
Jan 29 15
Cash America International, Inc. reported that the board of directors, at its regularly scheduled quarterly meeting, increased the cash dividend amount to $0.05 per share on common stock outstanding. The newly declared dividend represents a 43% increase in the company’s previous quarterly dividend of $0.035 per share paid each quarter since the first quarter of 2007. The dividend will be paid at the close of business on February 25, 2015 to shareholders of record on February 11, 2015.
Cash America International, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015 and Year Ending December 31, 2015
Jan 29 15
Cash America International, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net income from continuing operations of $7.492 million or 26 cents per share up 8% from net income per share from continuing operations forthe fourth quarter of 2013 of $7.309 million or 24 cents per share. Total revenue increased 7% to $289.4 million compared to $271.0 million during the same period in 2013. Net revenue decreased slightly to $151.7 million from $152.4 million in the same period of 2013, as growth in pawn-related net revenue was offset by lower net fees from unsecured consumer loans. Income from operations was $16.313 million against $19.917 million a year ago. Income from continuing operations before income taxes was $12.574 million against $13.959 million a year ago. Net income attributable to the company was $22.014 million or $0.75 per diluted share against $27.284 million or $0.91 per diluted share a year ago. Adjusted net income from continuing operations was $8.371 million or $0.29 per diluted share against $7.629 million or $0.25 per diluted share a year ago. Adjusted net earnings from continuing operations were $9.173 million or $0.31 per diluted share against $9.777 million or $0.33 per diluted share a year ago.
For the year, the company’s total revenue increased 6% to $1.1 billion compared to $1.0 billion for the same period in 2013. Net loss from continuing operations was $10.4 million or 36 cents per share compared to net income of $59.2 million or $1.93 per share a year ago. Net revenue was $589.550 million against $586.514 million a year ago. Income from operations was $32.967 million against $61.168 million a year ago. Loss from continuing operations before income taxes was $8.346 million against income from continuing operations before income taxes of $43.985 million a year ago. Net income attributable to the company was $98.638 million or $3.36 per diluted share against $142.528 million or $4.66 per diluted share a year ago. Adjusted EBITDA was $107.258 million against $133.990 million a year ago. Adjusted net income from continuing operations was $15.414 million or $0.51 per diluted share against $37.859 million or $1.23 per diluted share a year ago. Adjusted net earnings from continuing operations were $22.815 million or $0.78 per diluted share against $46.928 million or $1.63 per diluted share a year ago.
The company expects the first quarter of fiscal 2015 net income from continuing operations per share to be between 20 cents and 30 cents. The net income per share from continuing operations for the first quarter ended March 31, 2014 was $3.2 million or 11 cents per share which included $1.0 million or 3 cents per share in expenses primarily related to the early extinguishment of debt and $0.2 million or 1 cent per share related to a litigation settlement. Excluding the impact of these after-tax adjustments, adjusted diluted net income per share from continuing operations, a non-GAAP measure, would have been 15 cents per share for the first quarter of 2014.
The company adjusts its previously reported expectations for its fiscal year 2015 adjusted EBITDA to an anticipated range of between $110 to $125 million, which management estimates will generate between 80 cents and $1.10 in net income per share from continuing operations. This compares to a reported net loss from continuing operations of 36 cents per share that included unusual items, including expenses for the early extinguishment of debt during the year ended 2014 that totaled 87 cents per share. For the year ending December 31, 2015, the company expects Income from operations between $50 million to $62 million and depreciation and amortization between $60 million to $63 million. The company decreased capital expenditures to approximately $23 million in 2015. Applying the EPS guidance range for 2015, the free cash flow per share, defined as net income plus depreciation and amortization, reduced by expected CapEx would generate between $2.05 and $2.35 in free cash flow per share.
Cash America International Seeks Acquisitions
Jan 29 15
Cash America International, Inc. (NYSE:CSH) is seeking acquisitions. Daniel Feehan, President and Chief Executive Officer of Cash America, said "We're going to be really favoring investment as I've said a number of times on this call, favoring investment in our own business over an external acquisition in the near-term, unless we find something that's just ridiculously compelling."