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Clearwater, Florida,
- June 14, 2002 - Nicholas Financial, Inc. (Nasdaq, NICK), today
announced the recent
promotions of Douglas Marohn to Vice President of Sales and Matthew
Foget to Vice President of Marketing.
Mr. Foget, formally Vice President of Sales and an 8-year veteran of
the company has moved into the newly created V.P. of Marketing
position, in order to direct the expansion of Nicholas Financial's
branch office network. In his former capacity as V.P. of Sales, Matt
presided over four consecutive years of the record revenue and
earnings performance. During this period Nicholas Financial's revenues
increased 155% from $7,937,000 to $ 20,218,000 and net income
increased 330% from $913,000 to $3,932,000.
Mr. Marohn, formally the Regional Manager of Florida and a 4-year
veteran with the Company, was promoted to V.P. of Sales in April of
2002. He will direct the Company’s 5 District areas, which consist of
24 branch office locations in Florida, Georgia and the Carolinas. Doug
joined the Company in April 1998 as Branch Manager of a new branch
office in Longwood, Florida. During his three-year tenure, Mr. Mahron
built the Longwood office into one of the largest and most profitable
branches within the Company.
Both Doug and Matt report directly to the President of the company.
The Company will hold its annual meeting at the Countryside Country
Club in Clearwater, Florida, on August 7, 2002 at 9 AM.
Founded in 1985, with current assets of $77,690,000 as of March 31,
2002, Nicholas Financial is one of the largest publicly traded
specialty consumer finance companies based in the Southeast. The
Company has approximately 5,000,000 shares of common stock outstanding
and has reported increased revenues and earnings for the past 12
years. For an index of Nicholas Financial Inc.’s news releases or to
obtain a specific release, visit our web site at
www.nicholasfinancial.com.
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