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Ace Cash Express Inctx (849116) SEC Filing 10-Q Quarterly report for the period ending Friday, September 30, 2005

Ace Cash Express Inctx

CIK: 849116
 

Exhibit 99.1
     
FOR IMMEDIATE RELEASE (ACE CASH EXPRESS)  
     
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 2006 FIRST QUARTER RESULTS
DALLAS (October 27, 2005)— ACE Cash Express, Inc. (NASDAQ:AACE) announced fiscal first quarter 2006 net income of $2.9 million and earnings per share of $0.21, compared to fiscal first quarter 2005 net income of $5.1 million and earnings per share of $0.37. Net income for the fiscal first quarter 2006 includes an after-tax charge of $1.0 million, or approximately $0.07 per diluted share related to losses from Hurricane Katrina. This charge includes the write-off of fixed assets and an addition to the loan loss provision related to current and past due loans to customers of these stores. During the first quarter of 2006, ACE’s total revenue increased 7 percent to $66.2 million from $62.0 million in the prior year period, due primarily to a 12 percent increase in bill payment services, a 9 percent increase in loan fees and interest, and a 5 percent increase in check cashing fees.
“We remain confident in our long-term disciplined growth strategy. We continue to balance our de novo store development program, through which we have opened 158 stores during the last 24 months, with accretive acquisitions and new products and services. The recently announced agreement to acquire 111 Popular Cash Express stores is a perfect example of how we can acquire stores that complement our existing store base and add new products and services to these stores,” said Jay B. Shipowitz, President and Chief Executive Officer.
Among ACE’s accomplishments during the fiscal first quarter 2006 were:

 


The following information was filed by Ace Cash Express Inctx on Friday, October 28, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 849116
Form Type: 10-Q Quarterly Report
Accession Number: 0000950134-05-020688
Submitted to the SEC: Mon Nov 07 2005 12:12:20 PM EST
Accepted by the SEC: Mon Nov 07 2005
Period: Friday, September 30, 2005
Industry: Functions Related To Depository Banking

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