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10/17/2013

First Cash third-quarter a record for revenue, earnings

Arlington-based First Cash Financial Services said its had  record revenues and earnings in the year's third quarter as the addition of new stores and "strong retail growth" at existing stores produced a 25 percent increase in pawn fees and retail sales. First Cash earned $23.1 million, or 79 cents a share, on $174.2 million in revenue in the quarter. It had 888 retail locations as of Sept. 30, up 74 since Dec. 31, 2012. It said earnings for all of 2013 should be in the upper half of its previously forecast range of $2.75 to $2.90 a share. It expects to add between 95 and 100 retail locations this year, mostly its large-format stores in Mexico. Mexico operations accounted for 52 percent of the company's revenue in the third quarter, said CEO Rick Wessel.

-- Jim Fuquay

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