October 31, 2013 Nicholas Financial Reports 2nd Quarter ResultsClearwater, Florida, - October 31, 2013 - Nicholas Financial, Inc. (NASDAQ: NICK), announced that for the three months ended September 30, 2013 net earnings decreased 16% to $4,317,000 as compared to $5,150,000 for the three months ended September 30, 2012. Per share diluted net earnings decreased 17% to $0.35 as compared to $0.42 for the three months ended September 30, 2012. Revenue increased 1% to $20,949,000 for the three months ended September 30, 2012 as compared to $20,705,000 for the three months ended September 30, 2012. For the six months ended September 30, 2013 net earnings decreased 5% to $10,017,000 as compared to $10,558,000 for the six months ended September 30, 2012. Per share diluted net earnings decreased 6% to $0.82 as compared to $0.87 for the six months ended September 30, 2012. Revenue increased 1% to $41,425,000 for the six months ended September 30, 2013 as compared to $41,133,000 for the six months ended September 30, 2012. “Our results for the three months ended September 30, 2013 were adversely affected by a non-cash charge related to the change in fair value of interest rate swap agreements, an increase in operating expenses as a percentage of finance receivables, net, and an increase in the net charge-off rate” stated Peter L. Vosotas, Chairman and CEO. "We continue to develop additional markets and expect to open between 1-3 new branch locations during the remainder of our current fiscal year, which ends March 31, 2014. ”Nicholas
Financial, Inc. is one of the largest publically traded specialty consumer
finance companies in North America. The Company operates branch locations
in both the Southeastern and the Midwestern states. The Company has approximately
12,200,000 shares of common stock outstanding. For an index of Nicholas Financial,
Inc. news releases and public filings please visit our web site at
www.nicholasfinancial.com. |