Cash America 2001 Annual Report Download - page 23

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21
(In thousands, except per share data)
Consolidated Statements of Operations — Years Ended December 31
2001 2000 1999
REVENUE
Finance and service charges $ 113,863 $ 114,711 $ 123,111
Proceeds from disposition of merchandise 231,678 226,535 235,245
Other lending fees and royalties 6,194 1,233 129
Check cashing royalties and fees 4,194 3,881 4,410
TOTAL REVENUE 355,929 346,360 362,895
COSTS OF REVENUE
Disposed merchandise 150,991 151,407 159,602
NET REVENUE 204,938 194,953 203,293
OPERATING EXPENSES
Lending operations 130,647 123,710 121,242
Check cashing operations 1,335 1,258 3,510
Administration 25,722 23,912 25,218
Depreciation 12,747 12,373 14,139
Amortization 3,882 3,985 4,438
Total operating expenses 174,333 165,238 168,547
INCOME FROM OPERATIONS 30,605 29,715 34,746
Interest expense, net 9,619 13,095 13,690
Loss from derivative valuation fluctuations 557 ——
Gain from disposal of assets —(9,729) (2,224)
Equity in loss of unconsolidated subsidiary —15,653 15,238
Gain from issuance of subsidiary’s stock —(136) (5,222)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 20,429 10,832 13,264
Provision for income taxes 7,704 10,131 9,317
INCOME FROM CONTINUING OPERATIONS 12,725 701 3,947
Loss from discontinued operations, net of taxes (18,631) (2,431) (71)
NET INCOME (LOSS) $ (5,906) $ (1,730) $ 3,876
Net income (loss) per share:
Basic —
Income from continuing operations $ .52 $ .03 $ .16
Loss from discontinued operations $ (.76) $(.10) —
Net income (loss) $ (.24) $(.07) $ .15
Diluted —
Income from continuing operations $ .51 $ .03 $ .15
Loss from discontinued operations $ (.75) $(.09) —
Net income (loss) $ (.24) $(.07) $ .15
Weighted average shares:
Basic 24,643 25,461 25,346
Diluted 24,963 25,817 26,229
See notes to consolidated financial statements.