The continuing
depressed economic environment is having an effect on our
business that is not consistent with traditional or expected
patterns.
Joe Rotunda, President and Chief Executive Officer, Ezcorp
EZCORP reduced its earnings per share expectations for the
quarter ending June 30, 2009 to a range of $0.29 to $0.31 from
previously provided guidance of approximately $0.34. Although
this is below previous guidance, it is 16% to 24% greater than
the $0.25 earnings per share reported for the quarter ended June
30, 2008.
Commenting on the revised earnings
expectations, President and Chief Executive
Officer, Joe Rotunda, stated, "As we have
moved through our June quarter, we have seen
lower than anticipated levels of demand in
our U.S. operations for our loan products
and previously owned merchandise. The
continuing depressed economic environment is
having an effect on our business that is not
consistent with traditional or expected
patterns. The revenue impact of these lower
levels of demand has caused us to be more
conservative in our earnings expectations
for the June quarter and the balance of the
year."
The company is also revising its earnings per share
expectations for its fiscal fourth quarter to a range of $0.41
to $0.43, down from previously provided guidance of $0.46 to
$0.48. This results in full-year expectations in the range of
$1.40 to $1.44, compared to previously provided guidance of
$1.50 to $1.52 for fiscal 2009. This would be a 16% to 19%
increase over $1.21 per share reported for fiscal 2008.
As of March 31, 2009, EZCORP operated 898 locations in the
U.S. and Mexico consisting of 371 U.S. pawnshops, 45 pawnshops
in Mexico and 482 U.S. payday-loan stores.
