Cash America International Inc. (CSH, Financial) filed Quarterly Report for the period ended 2012-09-30.
Cash America International Inc has a market cap of $1.14 billion; its shares were traded at around $38.91 with a P/E ratio of 8.4 and P/S ratio of 0.7. The dividend yield of Cash America International Inc stocks is 0.4%. Cash America International Inc had an annual average earning growth of 23.6% over the past 10 years. GuruFocus rated Cash America International Inc the business predictability rank of 3.5-star.
Pawn lending activities accounted for 49.5% and 55.2% of total consolidated net revenue for the current quarter and prior year quarter, respectively. Net revenue from pawn lending activities decreased $6.9 million, to $123.1 million during the current quarter, from $130.0 million in the prior year quarter. The decrease in pawn-related net revenue was primarily due to lower gross profit on the disposition of merchandise from commercial sales, which decreased the pawn-related net revenue by $9.0 million during the current quarter compared to the prior year quarter, mainly due to a decrease in goods available for sale as a result of lower purchases. This decrease was partially offset by an increase of $2.1 million in pawn loan fees and service charges that resulted from higher average domestic pawn loan yield and higher balances as a result of new domestic retail services locations through organic growth and the acquisition during the fourth quarter of 2011 of substantially all of the assets of a seven-store chain of pawn lending locations in
For the nine-month period ended September 30, 2012 (the current nine-month period), net revenue increased $77.5 million, or 11.7%, to $738.9 million from $661.4 million for the same period in 2011 (the prior year nine-month period). Consumer loan activities accounted for 45.9% and 41.3% of total consolidated net revenue for the current nine-month period and the prior year nine-month period, respectively. Net revenue from consumer loan activities increased $66.3 million, to $339.6 million during the current quarter, which accounted for 85.6% of the overall increase in consolidated net revenue, mainly due to an increase in consumer loan fees that resulted from higher average consumer loan balances in the e-commerce segment.
Proceeds from retail dispositions of merchandise increased $2.9 million, or 3.7%, during the current quarter compared to the prior year quarter. Proceeds from retail dispositions in foreign retail operations increased $3.8 million due to increased sales of general merchandise. Offsetting this increase was a $0.9 million decrease in retail sales proceeds from domestic retail operations. Consolidated gross profit from retail dispositions decreased $0.8 million. Gross profit from domestic operations decreased $1.5 million, and gross profit from foreign operations increased $0.7 million. The decrease was primarily due to the continued discounting of merchandise prices to encourage retail sales activity. Despite the increase in gross profit on disposition in foreign operations, the Companys domestic and foreign operations both experienced a decrease in gross profit margin, as the consolidated gross profit margin on the retail disposition of merchandise decreased to 36.6% in the current quarter from 38.9% in the prior year quarter.
Proceeds from commercial dispositions increased $19.8 million, or 9.0%, during the current nine-month period over the prior year nine-month period. Domestic operations contributed $31.2 million of the increase primarily due to a higher average price per ounce of gold sold, partially offset by a decrease in the volume of gold sold during the current nine-month period compared to the prior year nine-month period. Proceeds from dispositions in foreign operations decreased $11.4 million, primarily due to a lower volume of gold sold in the current nine-month period compared to the prior year nine-month period. The decrease in volume of gold sold was primarily due to a decrease in goods available for sale as a result of lower purchases. Consolidated gross profit from commercial dispositions decreased $7.8 million to $63.5 million, of which domestic operations contributed $4.0 million and foreign operations contributed $3.8 million. The decrease was mainly due to a higher cost of gold sold relative to the increase in the market price per ounce of gold sold in both domestic and foreign operations. The gross profit margin on commercial sales decreased to 26.4% in the current nine-month period from 32.4% in the prior year nine-month period, primarily due to an increase in the cost per ounce of gold sold in both domestic and foreign operations.
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Cash America International Inc has a market cap of $1.14 billion; its shares were traded at around $38.91 with a P/E ratio of 8.4 and P/S ratio of 0.7. The dividend yield of Cash America International Inc stocks is 0.4%. Cash America International Inc had an annual average earning growth of 23.6% over the past 10 years. GuruFocus rated Cash America International Inc the business predictability rank of 3.5-star.
Highlight of Business Operations:
For the current quarter, consolidated net revenue increased $13.0 million, or 5.5%, to $248.5 million from $235.5 million for the prior year quarter. Consumer loan activities accounted for 48.6% and 43.5% of total consolidated net revenue for the current quarter and prior year quarter, respectively. Net revenue from consumer loan activities increased $18.4 million, to $120.8 million during the current quarter, mainly due to an increase in consumer loan fees that resulted from higher average consumer loan balances in the e-commerce segment, primarily from growth in domestic and foreign markets.Pawn lending activities accounted for 49.5% and 55.2% of total consolidated net revenue for the current quarter and prior year quarter, respectively. Net revenue from pawn lending activities decreased $6.9 million, to $123.1 million during the current quarter, from $130.0 million in the prior year quarter. The decrease in pawn-related net revenue was primarily due to lower gross profit on the disposition of merchandise from commercial sales, which decreased the pawn-related net revenue by $9.0 million during the current quarter compared to the prior year quarter, mainly due to a decrease in goods available for sale as a result of lower purchases. This decrease was partially offset by an increase of $2.1 million in pawn loan fees and service charges that resulted from higher average domestic pawn loan yield and higher balances as a result of new domestic retail services locations through organic growth and the acquisition during the fourth quarter of 2011 of substantially all of the assets of a seven-store chain of pawn lending locations in
For the nine-month period ended September 30, 2012 (the current nine-month period), net revenue increased $77.5 million, or 11.7%, to $738.9 million from $661.4 million for the same period in 2011 (the prior year nine-month period). Consumer loan activities accounted for 45.9% and 41.3% of total consolidated net revenue for the current nine-month period and the prior year nine-month period, respectively. Net revenue from consumer loan activities increased $66.3 million, to $339.6 million during the current quarter, which accounted for 85.6% of the overall increase in consolidated net revenue, mainly due to an increase in consumer loan fees that resulted from higher average consumer loan balances in the e-commerce segment.
Proceeds from retail dispositions of merchandise increased $2.9 million, or 3.7%, during the current quarter compared to the prior year quarter. Proceeds from retail dispositions in foreign retail operations increased $3.8 million due to increased sales of general merchandise. Offsetting this increase was a $0.9 million decrease in retail sales proceeds from domestic retail operations. Consolidated gross profit from retail dispositions decreased $0.8 million. Gross profit from domestic operations decreased $1.5 million, and gross profit from foreign operations increased $0.7 million. The decrease was primarily due to the continued discounting of merchandise prices to encourage retail sales activity. Despite the increase in gross profit on disposition in foreign operations, the Companys domestic and foreign operations both experienced a decrease in gross profit margin, as the consolidated gross profit margin on the retail disposition of merchandise decreased to 36.6% in the current quarter from 38.9% in the prior year quarter.
Proceeds from commercial dispositions increased $19.8 million, or 9.0%, during the current nine-month period over the prior year nine-month period. Domestic operations contributed $31.2 million of the increase primarily due to a higher average price per ounce of gold sold, partially offset by a decrease in the volume of gold sold during the current nine-month period compared to the prior year nine-month period. Proceeds from dispositions in foreign operations decreased $11.4 million, primarily due to a lower volume of gold sold in the current nine-month period compared to the prior year nine-month period. The decrease in volume of gold sold was primarily due to a decrease in goods available for sale as a result of lower purchases. Consolidated gross profit from commercial dispositions decreased $7.8 million to $63.5 million, of which domestic operations contributed $4.0 million and foreign operations contributed $3.8 million. The decrease was mainly due to a higher cost of gold sold relative to the increase in the market price per ounce of gold sold in both domestic and foreign operations. The gross profit margin on commercial sales decreased to 26.4% in the current nine-month period from 32.4% in the prior year nine-month period, primarily due to an increase in the cost per ounce of gold sold in both domestic and foreign operations.
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