EZCORP, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2017; Provides Tax Rate Guidance for the Year 2018
November 15, 2017 at 10:03 pm
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EZCORP, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended September 30, 2017. For the quarter, the company reported total revenues of $182,069,000 against $184,585,000 a year ago. Operating income was $12,097,000 against $2,308,000 a year ago. Income from continuing operations before income taxes was $7,612,000 against loss from continuing operations before income taxes of $19,365,000 a year ago. Income from continuing operations, net of tax was $10,069,000 against loss from continuing operations, net of tax of $17,502,000 a year ago. Net income attributable to the company was $11,410,000 against $3,231,000 a year ago. Basic and diluted earnings per share attributable to the company - continuing operations were $0.21 against basic and diluted loss per share attributable to the company - continuing operations of $0.31 a year ago. Adjusted EBITDA was $22.1 million against $3.0 million a year ago. Net Revenue was $108,093,000 against $106,861,000 a year ago.
For the fiscal year, the company reported total revenues of $747,954,000 against $730,505,000 a year ago. Operating income was $53,600,000 against $29,173,000 a year ago. Income from continuing operations before income taxes was $43,239,000 against $363,000 a year ago. Income from continuing operations, net of tax was $32,033,000 against loss from continuing operations, net of tax of $8,998,000 a year ago. Net income attributable to the company was $31,858,000 against net loss attributable to the company of $80,744,000 a year ago. Basic and diluted earnings per share attributable to the company - continuing operations were $0.62 against basic and diluted loss per share attributable to the company - continuing operations of $0.15 a year ago. Adjusted EBITDA was $88.5 million against $63.9 million a year ago. Net cash provided by operating activities was $51,836,000 against $64,403,000 a year ago. Additions to property and equipment were $18,853,000 against $9,550,000 a year ago. Net Revenue was $435,510,000 against $428,230,000 a year ago.
For the year 2018, the company expects tax rate will remain in the mid- to upper-30% range.
EZCORP, Inc. is a provider of pawn transactions in the United States and Latin America. The Company also sells merchandise, primarily collateral forfeited from pawn lending operations and pre-owned and recycled merchandise purchased from customers. It operates through three segments: U.S. Pawn, Latin America Pawn, and Other Investments. The U.S. Pawn segment includes its EZPAWN, Value Pawn & Jewelry and other branded pawn operations in the United States. The Latin America Pawn segment includes its Empeno Facil, Cash Apoyo Efectivo (CAE) and other branded pawn operations in Mexico, as well as its GuatePrenda and MaxiEfectivo pawn operations in Guatemala, El Salvador, and Honduras (GPMX). At its pawn stores, it advances cash against the value of collateralized tangible personal property and sells merchandise to customers looking for good value. The merchandise it sells primarily consists of second-hand collateral forfeited from its pawn activities or merchandise purchased from customers.
EZCORP, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2017; Provides Tax Rate Guidance for the Year 2018
EZCORP, INC. 
