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Advance America, Cash Advance Centers, Inc. (AEA) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

Advance America, Cash Advance Centers, I

CIK: 1299704 Ticker: AEA

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

Jamie Fulmer (864) 342-5633

jfulmer@advanceamerica.net

 

Advance America Announces Results of the Fourth Quarter and Year and Declares Dividend

 

SPARTANBURG, S.C., February 16, 2011 —

Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter and year ended December 31, 2010.

 

Highlights Year and Quarter ended December 31, 2010:

 

·                  Diluted earnings per share for the year and quarter were $0.58 and $0.26, respectively.

 

·                  Excluding net charges for legal settlements and pro forma tax rate detailed below, diluted earnings per share for the year would have been $0.77.

 

·                  Center gross profit for the quarter was $45.0 million.

 

·                  Income before income taxes for the quarter was $28.3 million.

 

Commenting on the results of the year and fourth quarter of 2010, Advance America’s President and Chief Executive Officer, Ken Compton said, “Advance America closed the year with solid performance, posting strong results for the quarter and throughout 2010. While the regulatory environment at the state and federal levels continues to evolve, consumer demand for our service remains robust. This trend demonstrates a persistent need for reliable access to affordable short-term credit. As we look toward 2011,

 


The following information was filed by Advance America, Cash Advance Centers, Inc. (AEA) on Wednesday, February 16, 2011 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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Advance America, Cash Advance Centers, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:

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SEC Filing Tools
Ticker: AEA
CIK: 1299704
Form Type: 10-K Annual Report
Accession Number: 0001047469-11-001973
Submitted to the SEC: Thu Mar 10 2011 4:30:37 PM EST
Accepted by the SEC: Thu Mar 10 2011
Period: Friday, December 31, 2010
Industry: Personal Credit Institutions

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