Cash America 2012 Annual Report Download - page 170

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
145
levels of pawn loans and consumer loan balances and merchandise dispositions activities associated with the holiday
season. The following is a summary of the quarterly results of operations for the years ended December 31, 2012 and
2011 (dollars in thousands, except per share data):
First Second Third Fourth
Quarter Quarter Quarter Quarter
2012
Total revenue $ 457,488 $ 411,644 $ 439,694 $ 491,604
Cost of revenue 200,704 178,036 191,217 224,516
N
et revenue 256,784 233,608 248,477 267,088
N
et income attributable to Cash America International, Inc.(b) 41,467 29,820 11,703 24,480
Diluted net income per share (a) $1.30 $0.94 $0.37 $0.79
Diluted weighted average common shares 31,912 31,822 31,375 30,884
2011
Total revenue $ 364,864 $ 345,939 $ 398,304 $ 473,957
Cost of revenue 148,736 136,091 162,850 225,628
N
et revenue 216,128 209,848 235,454 248,329
N
et income attributable to Cash America International, Inc. 36,378 26,981 34,777 37,827
Diluted net income per share (a) $ 1.13 $ 0.84 $ 1.08 $ 1.18
Diluted weighted average common shares 32,060 31,994 32,248 32,059
(a)
The sum of the quarterly net income per share amounts may not total to each full year amount presented in the Company's financial
statements 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.
(b)
N
et income attributable to Cash America International, Inc. for the third an
d
fourth quarter of 2012 did not follow the normal seasonal trend
due to the expenses recognized in connection with the Mexico Reorganization and the Ohio Reimbursements. See Notes 4 and 15.
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24. Withdrawal of Proposed Initial Public Offering of Enova International, Inc.
On September 15, 2011, Enova, a wholly-owned subsidiary of the Company that comprises its e-commerce
segment, filed a registration statement on Form S-1 (“Registration Statement”) with the Securities and Exchange
Commission (the “SEC”) in connection with a proposed initial public offering (“IPO”) of its common stock. On July
25, 2012, Enova filed an Application for Withdrawal of Registration Statement with the SEC to withdraw its
Registration Statement, together with all exhibits and amendments. The Registration Statement had not been declared
effective by the SEC, and no securities have been sold in connection with the offering pursuant to the Registration
Statement.
During the year ended December 31, 2012, expenses that were previously capitalized totaling $3.9 million
were recognized in earnings due to the withdrawal of the Registration Statement and are included in “Operations and
administration expenses” in the consolidated statements of income.
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25. Subsequent Events
On January 24, 2013, the Board of Directors authorized the Company’s repurchase of up to 2,500,000 shares
of its common stock. The share repurchase authorization does not have an expiration date, and the amount and prices
paid for any future share purchases under the new authorization will be based on market conditions and other factors at
the time of the purchase. Repurchases under the share repurchase program will be made through open market