Last10K.com

Ezcorp Inc (EZPW) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2015

Ezcorp Inc

CIK: 876523 Ticker: EZPW



EZCORP ANNOUNCES NEW STRATEGY, STRUCTURE AND BUSINESS FOCUS
Pawn and Grupo Finmart to be Key Businesses, U.S. Financial Services Closed, Structure Simplified
AUSTIN, Texas (July 29, 2015) EZCORP, Inc. (NASDAQ: EZPW), today announced a major change in strategy following an intensive six-month review of all company activities.
In a series of moves the company is describing as “transformational,” EZCORP will focus on growing its core pawn brokering operations in the U.S. and Mexico and its Grupo Finmart business in Mexico. The company will simplify its operating structure by moving from a divisional to a functional business model.
The new strategy will strengthen its key businesses, improve operating efficiencies and better position it for growth in the personal financial services industry.
Following an intensive six month review, the company will cease its involvement with payday, auto title and installment lending in the U.S., closing its U.S. Financial Services business.
Stuart Grimshaw, EZCORP’s Chief Executive Officer, said: “Our future success requires a transformational strategy and financial discipline.
“The company has grown into a complex organization with capital and management resources spread across a broad portfolio. We will focus on fewer businesses, simplify our structure, reduce costs and optimize the returns we make from our investments.
“We have high quality businesses and teams in North America with excellent growth and earnings potential,” he said.
Focus on Pawn and Grupo Finmart
EZCORP is the second largest company in the United States pawn industry and has a large network of stores in Mexico to support future expansion. Over the next three years, the company will increase investment in its pawn businesses to improve efficiency, customer service and profitability.
It has entered into a definitive agreement to acquire an additional 13 pawn stores in the U.S. for $12.5 million in cash. The transaction is expected to close in the current quarter.
Grupo Finmart is the 76%-owned subsidiary that provides payroll withholding loans in Mexico. It is well positioned as one of three leading companies in the sector. The strategy is to upgrade the core processes and systems of the business to facilitate continued growth.
Close U.S. Financial Services
The strategy review concluded that an increasingly challenging legislative and regulatory environment and a lack of scale limited the competitiveness and prospects of the company's unsecured and auto title lending operations in the U.S. As a result, the company will immediately close its U.S. Financial Services business, including all payday, auto title and installment lending. The company has already begun a program to assist customers and employees during the closure process.
Financial Impact
The strategy is expected to produce annual expense savings around $34 million after three years. The company expects to start seeing the benefit of these in the fourth quarter of 2015.



The following information was filed by Ezcorp Inc (EZPW) on Wednesday, July 29, 2015 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 Ezcorp Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

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 Ezcorp Inc.

Continue

Assess how Ezcorp Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Ezcorp Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Other Accrued Expenses
Accounts Payable And Other Accrued Expenses (tables)
Accounts Payable And Other Accrued Expenses - Components Of Accounts Payable And Other Accrued Expenses (details)
Accounts Payable And Other Accrued Expenses - Other Current Liabilities (details)
Acquisitions
Acquisitions - Cash Pawn (details)
Acquisitions - Grupo Finmart (details)
Acquisitions - Tuyo (details)
Acquisitions - Usa Pawn & Jewelry (details)
Allowance For Losses And Credit Quality Of Consumer Loans
Allowance For Losses And Credit Quality Of Consumer Loans (tables)
Allowance For Losses And Credit Quality Of Consumer Loans - Additional Disclosures (details)
Allowance For Losses And Credit Quality Of Consumer Loans - Aging Schedule (details)
Allowance For Losses And Credit Quality Of Consumer Loans - Schedule Of Allowance For Credit Losses (details)
Common Stock And Stock Compensation
Common Stock And Stock Compensation (tables)
Common Stock And Stock Compensation - Additional Disclosures (details)
Common Stock And Stock Compensation - Assumptions (details)
Common Stock And Stock Compensation - Compensation Costs (details)
Common Stock And Stock Compensation - Other Disclosures (details)
Common Stock And Stock Compensation - Restricted Stock Award Activity (details)
Common Stock And Stock Compensation - Stock Issued As Acquisition Consideration (details)
Common Stock And Stock Compensation - Stock Option Activity (details)
Contingencies
Contingencies (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (details)
Derivative Instruments And Hedging Activities (tables)
Discontinued Operations And Restructuring
Discontinued Operations And Restructuring (tables)
Discontinued Operations And Restructuring - Additional Disclosures (details)
Discontinued Operations And Restructuring - Changes In Accrued Amounts (details)
Discontinued Operations And Restructuring - Pre-tax Charges (gains) (details)
Discontinued Operations And Restructuring - Restructuring Expense (details)
Discontinued Operations And Restructuring - Restructuring Reserve (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Employment Agreements
Employment Agreements (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Disclosures (details)
Fair Value Measurements - Financial Assets, Temporary Equity And Liabilities Not Measured At Fair Value (details)
Fair Value Measurements - Recurring Fair Value Measurements (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Disclosures (details)
Goodwill And Other Intangible Assets - Classification Of Amortization Expense (details)
Goodwill And Other Intangible Assets - Definite-lived Intangible Assets (details)
Goodwill And Other Intangible Assets - Future Amortization Expense (details)
Goodwill And Other Intangible Assets - Goodwill (details)
Goodwill And Other Intangible Assets - Indefinite-lived Intangible Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Disclosures (details)
Income Taxes - Components Of Income Tax Provision (details)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Reconciliation Of Income Taxes (details)
Leases
Leases (tables)
Leases - Additional Disclosure (details)
Leases - Future Minimum Payments And Sublease Revenue (details)
Leases - Rent Expense (details)
Long-term Debt And Capital Lease Obligations
Long-term Debt And Capital Lease Obligations (tables)
Long-term Debt And Capital Lease Obligations - 8.5% Unsecured Notes Due 2015 (details)
Long-term Debt And Capital Lease Obligations - Cash Convertible Senior Notes (details)
Long-term Debt And Capital Lease Obligations - Consumer Loans Facility (details)
Long-term Debt And Capital Lease Obligations - Convertible Notes Embedded Derivative (details)
Long-term Debt And Capital Lease Obligations - Domestic Line Of Credit (details)
Long-term Debt And Capital Lease Obligations - Impact Of Early Conversion, Convertible Notes Hedges And Warrants (details)
Long-term Debt And Capital Lease Obligations - Interest Expense (details)
Long-term Debt And Capital Lease Obligations - Schedule Of Debt Instruments And Capital Lease Obligations (details)
Long-term Debt And Capital Lease Obligations - Secured Foreign Currency Debt And Secured Notes (details)
Long-term Debt And Capital Lease Obligations - Secured Notes Consolidated From Vies (details)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Additional Disclosures (details)
Property And Equipment - Major Classifications Of Property And Equipment (details)
Quarterly Information (unaudited)
Quarterly Information (unaudited) (tables)
Quarterly Information (unaudited) - Additional Disclosures (details)
Quarterly Information (unaudited) - Schedule Of Quarterly Information (details)
Related Party Transactions
Related Party Transactions (details)
Restatement Of Consolidated Financial Statements
Restatement Of Consolidated Financial Statements (details)
Retirement Plans
Retirement Plans (tables)
Retirement Plans - 401(k) Plan And Trust (details)
Retirement Plans - Additional Disclosures (details)
Retirement Plans - Supplemental Executive Retirement Plan (details)
Segment Information
Segment Information (tables)
Segment Information - Operating Segment Information (details)
Segment Information - Reconciliation Of Segment Assets (details)
Segment Information - Revenues And Long-lived Assets By Geographic Information (details)
Strategic Investments
Strategic Investments (tables)
Strategic Investments - Additional Information (details)
Strategic Investments - Carrying Amount And Fair Value (details)
Strategic Investments - Summarized Financial Information (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Common Stock (details)
Summary Of Significant Accounting Policies - Description Of Business (details)
Summary Of Significant Accounting Policies - Equity Method Investments (details)
Summary Of Significant Accounting Policies - Foreign Currency Translation And Advertising (details)
Summary Of Significant Accounting Policies - Goodwill And Other Intangible Assets (details)
Summary Of Significant Accounting Policies - Loans (details)
Summary Of Significant Accounting Policies - Property And Equipment (details)
Summary Of Significant Accounting Policies - Recasting Of Certain Prior Period Information (details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (details)
Summary Of Significant Accounting Policies - Software Development Costs (details)
Supplemental Consolidated Financial Information
Supplemental Consolidated Financial Information (tables)
Supplemental Consolidated Financial Information - Supplemental Consolidated Balance Sheet Information (details)
Supplemental Consolidated Financial Information - Valuation And Qualifying Accounts (details)
Temporary Equity
Temporary Equity (details)
Temporary Equity (tables)
Variable Interest Entities
Variable Interest Entities (tables)
Variable Interest Entities - Additional Disclosures (details)
Variable Interest Entities - Maximum Exposure Of Loc Losses (details)
Variable Interest Entities - Transfer Of Payroll Loans (details)
Ticker: EZPW
CIK: 876523
Form Type: 10-K Annual Report
Accession Number: 0000876523-15-000120
Submitted to the SEC: Wed Dec 23 2015 6:13:12 PM EST
Accepted by the SEC: Thu Dec 24 2015
Period: Wednesday, September 30, 2015
Industry: Retail Miscellaneous Retail

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/ezpw/0000876523-15-000120.htm