Nicholas Financial Posts Record 3rd Quarter Revenues & Earnings Report

NICHOLAS FINANCIAL, INC.
CONSOLIDATED INCOME STATEMENTS
(Unaudited, Dollars in Thousands, Except Per Share Amounts)

	Three Months Ended December 31,		Year Ended December 31,
	2000	1999	2000	1999
Revenue:
Finance charge income	$ 4,330	$ 3,487	$ 12,490	$ 9,454
Other income	91	133	306	398
	4,421	3,620	12,796	9,852
Costs and expenses:
Operating expenses	1,717	1,496	5,115	4,104
Provision for losses	390	313	1,067	788
Interest expense	1,002	725	2,793	2,027
	3,109	2,534	8,975	6,919
Income before income taxes	1,312	1,086	3,821	2,933
Income tax provision	504	418	1,472	1,125
Net income	$ 808 =======	$ 668 =======	$ 2,349 =======	$ 1,808 =======
..
Earnings per share:
Basic	$ .35 =======	$ .28 =======	$ 1.00 =======	$ .77 =======
Diluted	$ .32 =======	$ .26 =======	$ .93 =======	$ .71 =======
..
Weighted average shares	2,334,470 =======	2,352,608 =======	2,343,062 =======	2,352,040 =======
..
Numerator for dilutive earnings per share - income available to common stockholders after assumed conversions	$ 823	$ 693	$ 2,396	$ 1,883
..
Weighted average shares and assumed dilution	2,563,767 =======	2,676,610 =======	2,582,079 =======	2,664,790 =======

NICHOLAS FINANCIAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, Dollars in Thousands)

	March 31,	March 31,
	2000	1999
Cash	$ 344	$ 244
Finance receivables, net	61,856	47,078
Other Assets	2,204	2,192
Total Assets	$ 64,404 =======	$ 49,514 =======
..
Line of credit	$ 46,973	$ 35,215
Other notes payable	1,118	1,603
Other liabilities	2,963	2,340
Total Liabilities	51,054	39,158
..
Shareholder's Equity	13,350	10,356
..
Total Liabilities & Shareholders' equity	$ 64,404 =======	$ 49,514 =======
..
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties including competitive factors, the management of growth, and other risks detailed from time to time in the Company's filings and reports with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended March 31, 2000. Such statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially.