Cash America 2008 Annual Report Download - page 18

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15
Harnessing Endless Possibilities
ur passion for exploring
new vistas at every level of customer
and employee experience reaps a
substantial benefit for shareholders. We
remain pioneers in a dynamic, quickly
changing industry, as our end-of-year
numbers indicate.
Total revenue for the fiscal year
ended December 31, 2008, was over
$1 billion, up 11 percent from $929.4
million in 2007. Cash America finished
fiscal year 2008 with net income of
$81,140,000 ($2.70 per share) for
the 12-month period compared to
$79,346,000 ($2.61 per share) in fiscal
year 2007.
This includes
one-time and unusual
charges compared to
$75,290,000 ($2.48 per
share), excluding an
after-tax gain of
$4.1 million (13
cents per share),
in fiscal 2007 related
to the sale of our
Swedish pawn business. The 11-percent
increase in total revenue follows 34- and
17-percent increases in fiscal years 2007
and 2006, respectively.
Notwithstanding the loss of major
markets, our online cash advance
business increased its volume of loans
written during 2008 by 24 percent
year-over-year. Despite worldwide
economic turmoil during 2008, we
still posted a record year for revenues,
EBITDA, net earnings and earnings
per share. These were all
reported historical highs for
the Company.
As pleased as we are with
these results, we know that
there are additional areas for
exploration and discovery. We
won’t stop here. We believe that the
opportunities for sustained growth in
revenue and earnings are abundant,
directly correlated to customer demand
for pawn loans and short-term cash
advances, plus the ability to sell value-
priced merchandise from unredeemed
pawn loans. The Prenda Fácil
acquisition and the innovation of online
customer-centric solutions only add to
our growth potential.
Our business prospects are focused
on the strength and stability of our
U.S. pawn shop business, our exciting
growth opportunity in Mexico and Latin
America, and the significant development
work we’ve undertaken to find new and
innovative credit alternatives for our
customers. Our success in the United
Kingdom and potential entrance into
Canada and Australia with CashNetUSA
remain chief areas of focus as well.
We’re well aware that the
most successful businesses
are often the result of hard
work, ingenuity and a desire
to press beyond the borders of
the typical. As long as there are
new opportunities, new technologies
and new markets waiting to be explored,
Cash America will lead the way in
making the most of those opportunities.
Much like those throughout history
who’ve pushed forward into new
lands, we’re confident that the effort
will be worthwhile for the customers,
employees and shareholders who join
us in exploring new frontiers.
Products and items depicted on the preceding pages are representative of
the previously owned merchandise offered for resale by Cash America.
The manufacturers of these items do not in any way sponsor or promote Cash America.
Cash America International, Inc.