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Ace Cash Express Inctx (849116) SEC Filing 10-K Annual report for the fiscal year ending Thursday, June 30, 2005

Ace Cash Express Inctx

HISTORY TOOLS
CIK: 849116
 

Exhibit 99.1
FOR IMMEDIATE RELEASE
     
Contacts:
    
William S. McCalmont 972/753-2314
  Douglas Lindsay 972/753-2342
Executive Vice President & CFO
  Vice President of Finance
wmccalmont@acecashexpress.com
  dlindsay@acecashexpress.com
ACE CASH EXPRESS REPORTS FISCAL 2005 RESULTS
Record Revenue, Net Income and Earnings per Share
DALLAS (August 25, 2005) — ACE Cash Express, Inc. (NASDAQ:AACE) announced record fiscal 2005 net income of $27.4 million and record earnings per share of $1.98, compared to fiscal 2004 net income of $17.1 million and $1.49 per share. As previously disclosed, fiscal 2005 results include a one-time after-tax charge of approximately $0.6 million, or $0.04 per diluted share, related to a cumulative change to the Company’s lease accounting practices in the third quarter of the year. Additionally, fiscal 2004 results included a one-time after-tax charge of $2.9 million or $0.25 per diluted share, related to the early extinguishment of debt following the Company’s secondary offering of common stock in April 2004. Excluding these one-time charges, ACE’s fiscal 2005 net income and earnings per share increased 40 percent and 16 percent, respectively, over fiscal 2004. During fiscal 2005, ACE’s total revenue increased 9 percent to a record $268.6 million from $246.7 million in the prior year period.
“We are pleased with our fiscal 2005 performance. Growth in comparable store loan fees, gains in bill payment and debit card revenue and the addition of stores drove performance this year,” said Jay B. Shipowitz, President and Chief Executive Officer, “We remain focused on enhancing our product offerings in our continuing effort to bring convenient and quality services to our customers.”
Among the Company’s accomplishments during fiscal 2005 were:
  •   The total ACE store network, including franchised stores, had a record 40.2 million customer visits and processed approximately $10.3 billion in transactions.

 

The following information was filed by Ace Cash Express Inctx on Thursday, August 25, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Ace Cash Express Inctx's Definitive Proxy Statement (Form DEF 14A) filed after their 2005 10-K Annual Report includes:

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  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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SEC Filing Tools
CIK: 849116
Form Type: 10-K Annual Report
Accession Number: 0000950134-05-017550
Submitted to the SEC: Mon Sep 12 2005 4:46:13 PM EST
Accepted by the SEC: Mon Sep 12 2005
Period: Thursday, June 30, 2005
Industry: Functions Related To Depository Banking

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