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07/18/2012

First Cash reports record financial results

Arlington-based First Cash Financial Services, operator of pawn shops and consumer lending stores, said Tuesday it racked up record revenue, net income and earnings per share in the year's second quarter. First Cash earned $16.3 million on revenues of $132.8 million. Earnings per share of 56 cents matched Wall Street expectations. Operations in Mexico, which account for 57 percent of the company's revenues, were up 22 percent from a year earlier, after adjusting for currency exchange rates. U.S. revenues grew 15 percent. Pawn merchandise sales and pawn loan fees accounted for most revenue, with short-term "payday" loans accounting for 9 percent. First Cash said it had 518 stores in Mexico and 263 in the U.S. as of June 30.

-- Jim Fuquay

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