Dollar Financial Corp Announces Record Fiscal 2010 Results.
Business Wire › August 26, 2010
Linked as:
Business Wire › August 26, 2010
Linked as:Extract
Dollar Financial Corp Announces Record Fiscal 2010 Results.
Record Fiscal 2010 Fully-Diluted Operating Earnings Per Share of $2.01 Tops Company's Guidance Range;
Adjusted EBITDA Increases 31.6% to a Record $182.2 Million; Company Further Diversifies Global Footprint with Acquisition of Internet Lending Business in Scandinavia BERWYN, Pa. -- Dollar Financial Corp (NASDAQ:DLLR), a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, today announced its results for the fiscal fourth quarter and fiscal year ended June 30, 2010.Fiscal 2010 Financial Highlights * Consolidated total revenue grew to a record $610.9 million for the 2010 fiscal year, an increase of $83.1 million or 15.7% compared to the prior fiscal year, even as the Company employed a more conservative approach to consumer lending and cashing third-party checks amid the weakened global economy. On a constant currency basis, total consolidated revenue increased by $60.6 million or 11.5%.* The consolidated loan loss provision, expressed as a percentage of gross consumer lending revenue, improved to 14.4% for the fiscal year compared to 19.6% for fiscal 2009. The significant improvement reflects the Company's continued conservative approach to extending consumer credit in the midst of the weakened economy, as well as the benefit from the implementation of proprietary credit scoring models for the Company's large array of global loan products.* Consolidated operating margin increased by $64.5 million or 35.5% compared to the prior fiscal year, driven by the Company's strong organic revenue growth, contribution from acquisitions and the implementation of store operating efficiency improvements throughout the Company's international store network.* Consolidated adjusted EBIT...See the full content of this document
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