First Cash Financial Q3 Profit Up; Updates Full-year View - Quick Facts

(RTTNews) - First Cash Financial Services Inc (FCFS), a specialty retailer and provider of consumer financial services, Thursday reported an increase in net income for the third quarter on higher revenues. The results also included a one-time tax benefit of about $3.3 million. The company also updated its annual guidance, now seeing earnings in the upper half of its earlier guidance.

For the three-month period, the company reported net income of $23.1 million or $0.79 per share, compared with $18.8 million or $0.64 per share last year.

On average, thirteen analysts polled by Thomson Reuters expected the company to report earnings per share of $0.65 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue for the third quarter was $174 million, up from prior year's $149.6 million. The Street expected the company to generate revenues of $166.46 million for the quarter.

For the full-year 2013, the company expects earnings to be in the upper half of its previously forecast range of $2.75 to $2.90 per share. The financial services company expects about 94 percent of the revenues to come from its growing pawn operations, with the remainder to come from non-core consumer loan and credit services operations. Analysts expect the company to report earnings of $2.82 per share for the year.