WASHINGTON (dpa-AFX) - Specialty financial services provider Cash America International, Inc. (CSH) on Thursday reported an increase in profit for the first quarter amid a 25 percent increase in total revenues.
First-quarter net income attributable to the company rose to $41.47 million or $1.30 per share from $36.38 million or $1.13 per share for the same period in 2011. On average, 7 analysts polled by Thomson Reuters expected earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated total revenue increased 25 percent to $457.5 million from $364.9 million reported last year. Analysts expected revenues of $421.81 million.
Additionally, the company announced that the Board of Directors, at its regularly scheduled quarterly meeting, declared a $0.035 per share cash dividend.
Commenting on the first-quarter results, Daniel Feehan, President and Chief Executive Officer of Cash America, said, 'The business activities in the first quarter of 2012 started out as we expected with continued strong seasonal growth in short term loan demand as we began the year, followed by a healthy increase in retail sales later in the quarter.'
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