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Clearwater, Florida,
- May 3, 2005
- Nicholas Financial, Inc. (Nasdaq, NICK), announced that net income for
the fourth quarter ended March 31, 2005 increased
59% to $2,368,000 as
compared to $1,492,000 in the fourth quarter last year.
Diluted earnings per
share increased 26% to $0.34 from $0.27. Revenue for the quarter
increased 33% to $9,181,000
as compared to $6,910,000
in the fourth quarter last year. The Company has reported
record comparable quarterly increases in
58 of the
last 59 quarters.
For the
year ended March 31, 2005, net income increased
55% to $8,080,000 as
compared to $5,213,000 last year.
Diluted earnings per share increased
25% to
$1.20 from $0.96. Revenue for the year increased
29% to $32,832,000 from
$25,5000,000
last year. The Company has reported record increases in revenues and
earnings every year for the past 15 years.
Results for the fourth
quarter and year ended March 31, 2005 were favorably impacted by an
increase in the outstanding receivable portfolio, an improvement in
credit quality and an interest rate environment that remains below
historic levels.
The Company expects to
open an additional 6 to 8 new branch offices during the next fiscal
year. The Company is targeting new locations in Kentucky, Indiana,
Maryland, South Florida, North Carolina and Georgia. Founded
in 1985, with assets of $120,815,000 as of March 31, 2005, Nicholas
Financial is one of the largest publicly traded specialty consumer
finance companies based in the Southeast. The Company presently operates
out of 35 branch locations in both the Southeast and the Mid-West
States. The Company has approximately 6,560,000 shares of common stock
outstanding. For an index of Nicholas Financial Inc.’s news releases or
to obtain a specific release, visit our web site at
www.nicholasfinancial.com.
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,
2004. 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.
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