FORT WORTH, Texas - Pawnshop operator and cash advance provider Cash America International Inc. on Thursday raised its full-year earnings guidance based on strong results for the first half of the year and expectations for continued demand for its loan products. The company now expects a profit of between $3 and $3.20 per share, up from a prior estimate of $2.85 to $3 per share. Analysts polled by Thomson Financial, on average, forecast earnings of $3.08 per share. Cash America earned $2.48 per share in fiscal 2007. The guidance assumes that the company will close its cash advance locations in Ohio during the third quarter, but does not include one-time charges for any store closures. The planned closings in Ohio are a result of a new state law there that caps payday loan interest at 28 percent, a level that prevents the...
[read full story]
Your Web Site
