Nicholas Financial Earns 46 Cents Per Share

Nicholas Financial ($NICK) reports 46 cents per share for its fiscal Q1:

Nicholas Financial, Inc. announced that for the three months ended June 30, 2013 net earnings increased 5% to $5,700,000 as compared to $5,407,000 for the three months ended June 30, 2012. Per share diluted net earnings increased 5% to $0.46 as compared to $0.44 for the three months ended June 30, 2012. Revenue was $20,476,000 for the three months ended June 30, 2013 as compared to $20,428,000 for the three months ended June 30, 2012.

“Our results for the three months ended June 30, 2013 were positively affected by a non-cash gain related to interest rate swap agreements (mark-to-market) and were adversely effected by an increase in operating expenses,” stated Peter L. Vosotas, Chairman and CEO. During the June quarter we opened our fourth branch office in the South Florida market. “We will continue to develop additional markets and expect to open new branch locations during the remainder of our current fiscal year, which ends March 31, 2014.”

These numbers look pretty good to me. It looks like NICK benefited about four cents per share after-tax thanks to the interest rate swap agreement. I can’t find the details yet because it looks like there’s been an accounting change which adds about $3 million to quarterly revenues. Overall, these results are basically what I was expecting, so that’s good news.

Here’s a spreadsheet detailing detailing NICK’s last few quarters.

Posted by on August 6th, 2013 at 11:38 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.