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Last10K.com | 10-K Annual Report Mon Mar 08 2010
Exhibit 99.1
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FOR IMMEDIATE RELEASE |
Jamie Fulmer (864) 342-5633
jfulmer@advanceamerica.net
Advance America Cash Advance Reports Record Earnings Per Share for the Fourth Quarter and Year
SPARTANBURG, S.C., February 17, 2010 — Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the year and quarter ended December 31, 2009.
Highlights of the Year and Quarter ended December 31, 2009:
· Diluted earnings per share for the year increased to $0.88, which represents a 46.7% increase over the prior year
· Diluted earnings per share for the quarter increased to $0.32, which represents a 220% increase over the same period in 2008
· Center gross profit for the quarter increased $11.3 million to $49.8 million, which represents a 29.2% increase over the same period for the prior year
· The provision for doubtful accounts for the quarter decreased to 18.3% of revenue compared to 24.4% in the same period in the prior year
Commenting on the results of the fourth quarter of 2009, Advance America’s President and Chief Executive Officer, Ken Compton, said, “Advance America’s solid performance during the fourth quarter is the result of continued demand for the simple, reliable, transparent and cost-competitive financial services that we offer to consumers, coupled with a concentrated effort to reduce costs and improve our
The following information was filed by Advance America, Cash Advance Centers, Inc. (AEA) on Thursday, February 18, 2010 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.
View differences made from one year to another to evaluate Advance America, Cash Advance Centers, Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Advance America, Cash Advance Centers, Inc..
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Advance America, Cash Advance Centers, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
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Advance America, Cash Advance Centers, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AEA
CIK: 1299704
Form Type: 10-K Annual Report
Accession Number: 0001047469-10-001876
Submitted to the SEC: Mon Mar 08 2010 5:02:49 PM EST
Accepted by the SEC: Mon Mar 08 2010
Period: Thursday, December 31, 2009
Industry: Personal Credit Institutions
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