Cash America 2015 Annual Report Download - page 127
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20. Quarterly Financial Data (Unaudited)
The Company’s operations are subject to seasonal fluctuations. Net income tends to be highest during the
first and fourth calendar quarters when the Company’s typical business cycle causes revenue levels to be seasonally
highest. The first quarter benefits from high average loan balances at the beginning of the period, followed by
higher loan redemptions. The first quarter also benefits from high merchandise sales, primarily due to customers
using federal tax refund proceeds to purchase merchandise in the first quarter. The fourth quarter routinely benefits
from the highest levels of pawn loan and consumer loan balances and merchandise sales during the holiday season.
ThefollowingisasummaryofthequarterlyresultsofoperationsfortheyearsendedDecember31,2015and2014
(dollars in thousands, except per share data):
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2015 (a)
Total revenue $271,762 $236,464 $241,190 $280,075
Cost of revenue 124,671 102,473 106,230 128,973
Net revenue 147,091 133,991 134,960 151,102
Net income attributable to Cash America International, Inc. 7,845 2,071 5,038 12,612
Diluted net income per share $0.27 $0.08 $0.19 $0.49
Diluted weighted average common shares 28,780 27,508 26,773 25,865
2014 (a)
Total revenue $284,635 $253,608 $267,010 $289,443
Cost of revenue 132,162 112,359 122,907 137,718
Net revenue 152,473 141,249 144,103 151,725
Net income (loss) from continuing operations 3,237 (11,746)(9,370)7,492
Net income from discontinued operations 42,500 32,717 19,286 14,522
Net income attributable to Cash America International, Inc. 45,737 20,971 9,916 22,014
Diluted net income (loss) per share - continuing operations (b) $0.11 $(0.41)$ (0.32)$ 0.26
Diluted net income per share - discontinued operations $1.44 $1.12 $0.66 $0.50
Diluted net income per share $1.55 $0.72 $0.34 $0.75
Diluted weighted average common shares 29,500 29,256 29,312 29,284
(a) The sum of the quarterly per share amounts may not sum to each full year amount presented in the Company’s financial
statements because these calculations 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.
For information about the Company’s calculation of diluted weighted average common shares, see Note 1.
(b) Since a net loss exists for the second and third quarters of 2014, all potentially dilutive securities are anti-dilutive and are
therefore excluded from the per-share calculations.
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
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