Cash America 2009 Annual Report Download - page 150

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
122
balances are typically the highest and merchandise disposition activities are typically heavier compared to the
other two quarters. The following is a summary of the quarterly results of operations for the years ended
December 31, 2009 and 2008 (in thousands, except per share data):
First Second Third Fourth
Quarter Quarter Quarter Quarter
2009
Total revenue $ 268,091 $ 252,381 $ 276,221 $ 323,697
Cost of revenue 82,502 71,534 75,542 94,699
Net revenue 185,589 180,847 200,679 228,998
Net income attributable to Cash America International,
Inc. 23,910 16,607 22,478 33,683
Diluted net income per share (1) $ 0.79 $0.54 $0.73 $1.09
Diluted weighted average common shares 30,419 30,515 30,698 31,013
2008
Total revenue $ 250,934 $ 247,979 $ 252,150 $ 279,731
Cost of revenue 71,516 66,741 68,033 89,070
Net revenue 179,418 181,238 184,117 190,661
Net income attributable to Cash America International,
Inc. 25,811 20,137 18,925 16,267
Diluted net income per share (1) $ 0.86 $ 0.67 $ 0.63 $ 0.54
Diluted weighted average common shares 29,995 30,094 30,035 30,074
(1)
a
a
a
The sum of the quarterly net income per share amounts may not total to each full year amount because these
computations are made independently for each quarter and for the full year and take into account the weighted
average number of common shares outstanding for each period, including the effect of dilutive securities for
that period.
22. Subsequent Events
On January 28, 2010, the Company issued and sold $25.0 million aggregate principal amount of its
7.26% senior unsecured notes (the “Notes”) due January 28, 2017 in a private placement pursuant to a note
purchase agreement dated January 28, 2010 by and among the Company and certain purchasers listed therein
(the “Note Purchase Agreement”). The Notes are senior unsecured obligations of the Company. The Notes
are payable in five annual installments of $5.0 million beginning January 28, 2013. In addition, the Company
may, at its option, prepay all or a minimum portion of $1.0 million of the Notes at a price equal to the
principal amount thereof plus a make-whole premium and accrued interest. The Notes are guaranteed by all
of the Company’s U.S. subsidiaries. The Company will use a portion of the net proceeds of the offering to
repay existing indebtedness, including outstanding balances under its USD Line of Credit. The remaining
portion will be used for general corporate purposes.