 |
Clearwater, Florida, -
January 23, 2003
- Clearwater, Florida: Nicholas Financial, Inc. (Nasdaq, NICK), today
announced record revenues and earnings for the third quarter ended
December 31, 2002. The Company reported net income for the three months
ended December 31, 2002 increased 6% to $1,009,000 from $949,000 for the
three months ended December 31, 2001. Earnings per share increased 6% to
$0.19 for the period ended December 31, 2002 from $0.18 for the period
ended December 31, 2001. During the three months ended December 31, 2002
revenue increased 8% to $5,429,000 compared to revenue of $5,009,000
during the three months ended December 31, 2001.
For the
nine months ended December 31, 2002 net income increased 12% to
$3,078,000 from $2,760,000 for the nine months ended December 31, 2001.
Earnings per share increased 9% to $0.58 from $0.53 for the nine months
ended December 31, 2002 and 2001, respectively. Revenue for the nine
months ended December 31, 2002 increased 12% to $16,330,000 compared to
$14,588,000 for the nine months ended December 31, 2001.
The
Company expects to open its second branch location in Cleveland, Ohio by
the end of January 2003. This will mark the fifth Business Development
Center launched in Ohio during the past year. In total the Company will
operate 28 locations in Florida, Georgia, Ohio and the Carolinas.
Founded
in 1985, with current assets of $85,101,000 as of December 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.
|
|
