cash america intl inc (CSH) Key Developments
Cash America International, Inc. Enters into Sixth Amendment to its Credit Agreement
Dec 30 14
On December 23, 2014, Cash America International, Inc., and its direct and indirect domestic subsidiaries as guarantors (collectively, the Guarantors") entered into a Sixth Amendment (the Sixth Amendment") to its Credit Agreement dated March 30, 2011 among the company, the Guarantors, Wells Fargo Bank, National Association, as Administrative Agent, and the lenders named therein, as previously amended (the Credit Agreement"). The Sixth Amendment, among other things, provides (i) that any acceleration or demand for acceleration, repayment, redemption or repurchase of or any default or event of default under the company's 5.75% senior notes due 2018 (2018 Senior Notes") or the related indenture (Other Debt Action") proximately caused by the spin-off of Enova International, Inc. will not result in a default or event of default under the Credit Agreement and that any such Other Debt Action will not be deemed an event that could reasonably be expected to give rise to or have a material adverse effect under the Credit Agreement, and (ii) until such time as the Company notifies the Administrative Agent for the Credit Agreement that the provision described in subsection (i) above is no longer required, the Company's minimum liquidity (the unused amount under the Credit Agreement plus the amount of unrestricted cash and cash equivalents of the Company and its subsidiaries in excess of $10,000,000) will not be less than $250,000,000 less the aggregate amount of all payments made on the 2018 Senior Notes after December 1, 2014.
Cash America International, Inc. Presents at 2014 FBR Fall Investor Conference, Dec-02-2014
Nov 9 14
Cash America International, Inc. Presents at 2014 FBR Fall Investor Conference, Dec-02-2014 . Venue: Grand Hyatt New York, 109 East 42nd Street at Grand Central Station, New York, NY 10017, United States.
Cash America International, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Oct 23 14
Cash America International, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net revenue of $276,352,000 against $247,007,000 a year ago. Income from operations was $45,001,000 against $28,519,000 a year ago. Income before income taxes was $21,394,000 against $18,173,000 a year ago. Net income attributable to Cash America International, Inc. was $9,916,000 or $0.34 per diluted share against $46,186,000 or $1.52 per diluted share a year ago. Adjusted net income attributable to the Company was $24,004,000 or $0.82 per diluted share against $24,325,000 or $0.80 per diluted share a year ago. Adjusted earnings were $27,074,000 or $0.92 per diluted share against $27,518,000 or $0.91 per diluted share a year ago.
For the nine months period, the company reported net revenue of $847,279,000 against $763,138,000 a year ago. Income from operations was $190,609,000 against $155,353,000 a year ago. Income before income taxes was $127,282,000 against $128,279,000 a year ago. Net income attributable to Cash America International, Inc. was $76,624,000 or $2.61 per diluted share against $115,244,000 or $3.73 per diluted share a year ago. Adjusted net income attributable to the Company was $101,546,000 or $3.45 per diluted share against $93,383,000 or $3.02 per diluted share a year ago. Adjusted earnings were $110,420,000 or $3.76 per diluted share against $102,116,000 or $3.31 per diluted share a year ago. Adjusted EBITDA was $261,765,000 against $227,667,000 a year ago.
Cash America International, Inc. Declares Cash Dividend, Payable on November 19, 2014
Oct 23 14
The Board of directors of Cash America International, Inc. declared a $0.035 (3.5 cents) per share cash dividend on common stock outstanding. The dividend will be paid at the close of business on November 19, 2014, to shareholders of record on November 5, 2014.
Cash America International Mulls Acquisitions
Oct 23 14
Cash America International, Inc. (NYSE:CSH) plans to make acquisitions. Dan Feehan, President and Chief Executive Officer of the company said: “As I mentioned on our last earnings are in July when we complete the spinoff of Enova and enter 2015 you should expect to see Cash America slowly resume the unit openings and continue pursuing acquisitions upon businesses exclusively in the US in the near term.” He added: “We will be the largest pawn shop operator in the United States and our future growth will come from leveraging clearly define organic opportunity for improving the per shop marginal profitability of our entire footprint, while also pursuing an expanded footprint through store openings and acquisitions. In the near term horizon and the next few years you should expect that our focus will remain dedicated to the core activities of our pawn shop business in the US market.”