First Cash Financial Q1 net income down

Apr 24, 2008 (Datamonitor via COMTEX) -- FCFS | news | PowerRating | PR Charts -- First Cash Financial Services has reported net income was $6.69 million for the first quarter of 2008, compared to $10.28 million for the first quarter of 2007.

Net income from continuing operations was $6.4 million, compared to $9.4 million. The company reported that diluted earnings per share from continuing operations for the first quarter of 2008 were $0.21, compared to $0.28 in the first quarter of 2007.

Consolidated revenue for the first quarter of 2008 totaled $103 million, an increase of 17% over the $88 million for the same period of 2007.

Profits from the company's core pawn and short-term loan stores grew by 26% while same-store revenues increased by 17%. The growth is the result of strong

consumer credit demand and continued expansion and maturing of new stores in both Mexico and the US.

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