First Cash Financial Services Inc.'s (FCFS) third-quarter net income was $11.97 million or $0.39 per share versus a loss of $46.41 million or $1.54 per share in the prior year period. Income from continuing operations for the quarter grew to $10.61 million or $0.35 per share from $8.73 million or $0.29 per share a year earlier. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.34. Analysts' estimate typically excludes one-time items.
Revenue from continuing operations for the third quarter of 2009 was $94.65 million compared with $83.8 million in 2008. Net revenue for the third quarter rose to $55.46 million from $50.92 million in the year earlier period. Five analysts estimated revenues of $89.06 million for the quarter.
The company raised its fiscal 2009 view for earnings per share from continuing operations to 1.37 - 1.39 from its prior range of 1.36 - 1.38. The increased guidance range implies an estimated earnings growth rate of about 12% to 15% over the second half of fiscal 2009, the company noted. Seven analysts expect fiscal 2009 earnings per share of $1.38.
For comments and feedback: editorial@rttnews.com