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FOR IMMEDIATE RELEASE
Jamie Fulmer (864) 342-5633
Advance America Announces Results of the 2nd Quarter 2010 and Declares Dividend
SPARTANBURG, S.C., July 28, 2010 Advance America, Cash Advance Centers, Inc. (NYSE: AEA) today reported the results of its operations for the quarter and six months ended June 30, 2010.
Highlights Six Months and Quarter ended June 30, 2010:
· Diluted earnings per share for the six months and quarter were $0.30 and $0.08, respectively
· Excluding charges of $2.4 million for legal settlements, diluted earnings per share for the six months and quarter would have been $0.32 and $0.10, respectively
· Center gross profit for the quarter increased $6.5 million to $31.1 million, which represents a 26.2% increase over the same period for the prior year
· Income before income taxes for the quarter was $9.6 million, an increase of 10.0% over the same period for the prior year
· Excluding legal settlements, income before income taxes for the quarter was $11.9 million, an increase of 37.0% over the same period for the prior year
Commenting on the results of the second quarter of 2010, Advance Americas President and Chief Executive Officer, Ken Compton, said, Advance America continues to deliver
The following information was filed by Advance America, Cash Advance Centers, Inc. (AEA) on Thursday, July 29, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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