CASH AMERICA INTERNATIONAL INC - FORM 8-K - EX-99.3 - EXHIBIT 99.3 - February 4, 2015

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8-K - 8-K - CASH AMERICA INTERNATIONAL INCdiscontinuedops8-k.htm
EX-99.1 - EXHIBIT 99.1 - CASH AMERICA INTERNATIONAL INCex991.htm
EX-99.4 - EXHIBIT 99.4 - CASH AMERICA INTERNATIONAL INCex994.htm
EX-99.2 - EXHIBIT 99.2 - CASH AMERICA INTERNATIONAL INCex992.htm
Exhibit 99.3


 
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
 
CONSOLIDATED STATEMENTS OF INCOME
 
(dollars in thousands, except per share data)
 
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Year Ended
 
 
March 31,
2014
 
June 30,
2014
 
September 30,
2014
 
December 31,
2014
 
December 31,
2014
Revenue
 
 
 
 
 
 
 
 
 
 
Pawn loan fees and service charges
$
80,187

 
$
80,990

 
$
85,313

 
$
82,878

 
$
329,368

 
Proceeds from disposition of merchandise
176,455

 
146,772

 
155,087

 
181,692

 
660,006

 
Consumer loan fees
25,759

 
23,900

 
24,831

 
23,184

 
97,674

 
Other
2,234

 
1,946

 
1,779

 
1,689

 
7,648

Total revenue
284,635

 
253,608

 
267,010

 
289,443

 
1,094,696

 
Disposed merchandise
124,564

 
104,510

 
114,293

 
130,770

 
474,137

 
Consumer loan loss provision
7,598

 
7,849

 
8,614

 
6,948

 
31,009

Total cost of revenue
132,162

 
112,359

 
122,907

 
137,718

 
505,146

Net revenue
152,473

 
141,249

 
144,103

 
151,725

 
589,550

Expenses
 
 
 
 
 
 
 
 
 
 
Operations and administration
123,419

 
122,711

 
124,435

 
119,900

 
490,465

 
Loss on divestitures
—

 
—

 
5,176

 
—

 
5,176

 
Depreciation and amortization
15,143

 
15,181

 
15,106

 
15,512

 
60,942

Total operating expenses
138,562

 
137,892

 
144,717

 
135,412

 
556,583

Income (loss) from operations
13,911

 
3,357

 
(614
)
 
16,313

 
32,967

 
Interest expense
(10,068
)
 
(8,389
)
 
(4,324
)
 
(3,739
)
 
(26,520
)
 
Interest income
4,764

 
2,880

 
3

 
—

 
7,647

 
Foreign currency transaction (loss) gain
(2
)
 
119

 
(4
)
 
—

 
113

 
Loss on extinguishment of debt
(1,546
)
 
(15,016
)
 
(5,991
)
 
—

 
(22,553
)
Income (loss) from continuing operations before income taxes
7,059

 
(17,049
)
 
(10,930
)
 
12,574

 
(8,346
)
Provision (benefit) for income taxes
3,822

 
(5,303
)
 
(1,560
)
 
5,082

 
2,041

Net income (loss) from continuing operations
3,237

 
(11,746
)
 
(9,370
)
 
7,492

 
(10,387
)
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) from discontinued operations, net of tax
42,500

 
32,717

 
19,286

 
14,522

 
109,025

Net income or (loss) attributable to Cash America International, Inc.
$
45,737

 
$
20,971

 
$
9,916

 
$
22,014

 
$
98,638

 
 
 
 
 
 
 
 
 
 
 
 
Earnings Per Share: (a)
 
 
 
 
 
 
 
 
 
 
Basic Earnings Per Share
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) from Continuing Operations
0.11

 
(0.41
)
 
(0.32
)
 
0.26

 
(0.36
)
 
Net Income from Discontinued Operations
1.50

 
1.14

 
0.66

 
0.50

 
3.77

 
Net Income Attributable to Cash America International, Inc.
1.61

 
0.73

 
0.34

 
0.75

 
3.41

 
Diluted Earnings Per Share
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) from Continuing Operations
0.11

 
(0.41
)
 
(0.32
)
 
0.26

 
(0.36
)
 
Net Income from Discontinued Operations
1.44

 
1.12

 
0.66

 
0.50

 
3.72

 
Net Income Attributable to Cash America International, Inc.
1.55

 
0.72

 
0.34

 
0.75

 
3.36

 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
 
 
 
Basic
28,407

 
28,823

 
29,186

 
29,177

 
28,901

 
Diluted
29,500

 
29,256

 
29,312

 
29,284

 
29,341

 
 
 
 
 
 
 
 
 
 
 
 
(a)   Earnings per share amounts included in this information may not sum due to rounding differences.



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