Cash America 2004 Annual Report Download - page 2

(Dollars in thousands, except per share data)
2004 2003 2002
Operations – years ended December 31 (a)
Total revenue $ 469,478 $ 388,635 $ 350,501
Income from operations before
depreciation and amortization 78,623 55,088 40,359
Income from operations 61,413 41,819 27,872
Income from continuing operations (b) $ 34,965 $ 22,030 $ 11,917
Income from continuing operations per share – Diluted $ 1.18 $ 0.83 $ 0.48
Net income (b) $ 56,835 $ 30,036 $ 19,309
Net income per share – Diluted $ 1.92 $ 1.13 $ 0.78
Dividends per share $ 0.37 $ 0.07 $ 0.05
Balance Sheets – at December 31 (a)
Earning assets $ 212,893 $ 158,987 $ 130,818
Total assets 555,165 377,194 287,006
Total debt 166,626 148,040 137,000
Stockholdersʼ equity 333,936 276,493 192,335
Current ratio 4.6x 4.3x 4.0x
Debt to equity ratio 49.9% 53.5% 71.2%
Return on assets (c) 8.3% 6.9% 4.2%
Return on equity (c) 11.7% 9.8% 6.7%
Net book value per common share outstanding $ 11.37 $ 9.78 $ 7.89
Common shares outstanding (d) 29,366,713 28,259,726 24,362,190
(a) In September 2004, the Company sold its foreign pawn lending operations. The amounts for all periods presented have been reclassified to reflect the foreign
operations as discontinued operations. In addition, in September 2001, the Company announced plans to exit the rent-to-own business. The amounts for
2002 also reflect the reclassified rent-to-own business as discontinued operations.
(b) See “Managementʼs Discussion and Analysis of Financial Condition and Results of Operations” and “Financial Statements and Supplementary Data” for amounts
related to details of discontinued operations for all periods presented and the gain on disposal of assets for 2003.
(c) Returns based on Income from Continuing Operations after taxes divided by average total assets and average total equity of the Company.
(d) Includes 69,935 shares, 64,742 shares and 66,820 shares in 2004, 2003 and 2002, respectively, held in the Companyʼs Nonqualified Savings Plan.
Financial Highlights
1
C o r e P u r p o s e
We provide financial solutions that
help ordinary people meet their needs
and pursue their dreams!
C o r e V a l u e s
We are family.
We strive for excellence.
We bring honor to our team.
We have fun.
We act with a servant’s heart.
CASH AMERICA INTERNATIONAL, INC.
is a provider of specialty financial services
to individuals in the United States with 839
total locations. Cash America is the nation’s
largest provider of secured non-recourse loans
to individuals, commonly referred to as pawn
loans, through 452 locations in 21 states
under the brand names Cash America Pawn
and SuperPawn. The Company also offers
short-term cash advances in 253 locations
under the brand names Cash America Payday
Advance and Cashland. In addition, check
cashing services are provided through 134
franchised and Company-owned Mr. Payroll
check cashing centers. Cash America com-
mon shares are listed on the New York Stock
Exchange under the symbol “CSH”.
Current ratio 4.6x 4.3x 4.0x
Debt to equity ratio 49.9% 53.5% 71.2%
Return on assets (c) 8.3% 6.9% 4.2%
Return on equity (c) 11.7% 9.8% 6.7%
Net book value per common share outstanding $ 11.37 $ 9.78 $ 7.89
Common shares outstanding (d) 29,366,713 28,259,726 24,362,190
20 Years that transformed an industry.
Inside this report youʼll see a timeline that highlights some
of the milestones of Cash Americaʼs first 20 years. Youʼll see it
all, from the first store to todayʼs total of 839 Company owned
and franchised locations, from 8-tracks to iPods. There are many
firsts along the way—like being the first national chain of pawn
stores to go public, and the first to have its headquarters almost
destroyed by a tornado.
During our 20-year history, weʼve taken the best lessons of
business and the most recent advances in computerized infor-
mation technology and applied them to an industry in need of
advancement. We developed a plan, set our goals and defined the
kind of business we wanted it to be. We stuck to it. Today, our
business is growing and thriving, and our core values are intact.
Over the years we have built off our core purpose of
providing financial solutions that help ordinary people meet
their needs and pursue their dreams. We have expanded beyond
offering only pawn loans to short-term unsecured cash advances
to serve our customers. We are pleased that cash advance related
revenue accounted for 21% of total revenue in 2004, but we are
just as pleased that our pawn related activities continue to post
strong growth figures.
Hereʼs to 20 more years of innovations.