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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 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.
View differences made from one quarter to another to evaluate Ace Cash Express Inctx's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Ace Cash Express Inctx.
849116 Quarterly Reports
- 10-Q Quarterly Report May 2006
- 10-Q Quarterly Report January 2006
-
10-Q Quarterly Report November 2005
- 10-Q Quarterly Report May 2005
- 10-Q Quarterly Report February 2005
