Fort Worth-based Cash America International, the nation's biggest operator of pawnshops, saw its shares jump nearly 8 percent Thursday despite reporting lower fourth-quarter earnings.
The company said it earned $24.5 million in the last three months of 2012, down from $37.8 million a year earlier. The most recent quarter included $15.4 million in after-tax charges related to previously announced store closings in Mexico and a refund to Ohio customers.Not counting those, Cash America earned $39.9 million, or $1.29 a share. That was higher than its own guidance and also of financial analysts' consensus estimate of $1.20. Cash America said revenue rose 4 percent in the fourth quarter to $491.6 million. Nonpawn consumer loans, such as payday loans, were the biggest driver, growing 24 percent from a year earlier and accounting for $222.9 million of the revenue. For all of 2012, the company earned $107.5 million, down from $136 million in 2011. Jim Fuquay, 817-390-7552Twitter: @jimfuquayHave more to add? News tip? Tell us
