-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UiLp0Ly/Yg+xgea8OlOAo4djQuRiz2RvJ0HRrEUpAV4HfJaCPex+LWzT9eq7dGbR xcu5EhUGpn4XqkiHBa5YiA== 0000950134-05-007507.txt : 20050415 0000950134-05-007507.hdr.sgml : 20050415 20050415070327 ACCESSION NUMBER: 0000950134-05-007507 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050415 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050415 DATE AS OF CHANGE: 20050415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASH AMERICA INTERNATIONAL INC CENTRAL INDEX KEY: 0000807884 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 752018239 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09733 FILM NUMBER: 05752087 BUSINESS ADDRESS: STREET 1: 1600 W 7TH ST CITY: FT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8173351100 MAIL ADDRESS: STREET 1: 1600 WEST 7TH STREET CITY: FORT WORTH STATE: TX ZIP: 76102 FORMER COMPANY: FORMER CONFORMED NAME: CASH AMERICA INVESTMENTS INC /TX/ DATE OF NAME CHANGE: 19920520 8-K 1 d24355e8vk.htm FORM 8-K e8vk
 

 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
April 15, 2005

CASH AMERICA INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)
         
Texas   1-9733   75-2018239
(State of incorporation)   (Commission File No.)   (IRS Employer Identification No.)

1600 West 7th Street
Fort Worth, Texas 76102
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (817) 335-1100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 


 

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 15, 2005, Cash America International, Inc. (the “Company”) announced its anticipated approximate consolidated earnings from continuing operations for the quarter ended March 31, 2005 and that earnings will not meet the Company’s previously reported expected earnings for the quarter. A copy of the Company’s news release containing the announcement is furnished as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

  (c)   Exhibits – The following exhibit is furnished pursuant to the disclosures included under Item 2.02 of this report on Form 8-K.
 
  99.1   Copy of news release dated April 15, 2005, issued by Cash America International, Inc.

2


 

SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CASH AMERICA INTERNATIONAL, INC.
 
 
Date: April 15, 2005  By:   /s/ HUGH A. SIMPSON    
    Hugh A. Simpson   
    Executive Vice President, General
Counsel and Secretary 
 
 

3


 

EXHIBIT INDEX

     
Exhibit No.   Description
 
   
99.1
  News release dated April 15, 2005, issued by Cash America International, Inc.

4

EX-99.1 2 d24355exv99w1.htm NEWS RELEASE exv99w1
 

EXHIBIT 99.1

(CASH AMERICA LOGO)

     
Additional Information:
  For Immediate Release
Thomas A. Bessant, Jr.
   
(817) 335-1100
   

***************************************************************************************************
CASH AMERICA UPDATES FIRST QUARTER FINANCIAL OUTLOOK
***************************************************************************************************

Fort Worth, Texas (April 15, 2005) — Cash America International, Inc. (NYSE: CSH) announced today that income from continuing operations for the first quarter ended March 31, 2005 will not meet its previously reported expectation of 45 cents to 47 cents per share. The Company currently anticipates that income from continuing operations for the first quarter will be up 30% from the prior year first quarter and will generate approximately 39 cents per share. The 2005 first quarter estimate includes the negative impact of one-cent per share of a foreign currency related loss. Cash America will report the complete results of the first quarter on its scheduled release date of April 21, 2005.

Commenting on the change in financial outlook, Daniel R. Feehan, president and chief executive officer of Cash America said, “During the latter stages of the quarter our pawn loan and cash advance balances did not rebound from the seasonal lows brought about from the annual tax refunds paid to many of our customers in this period. The reduced demand for our loan products caused revenue from service charges on pawn loans and cash advance fees to be below our expectations. The related impact of lower revenue is particularly sensitive to the profitability of the 107 cash advance units established over the last twelve months and caused their contribution to earnings in the first quarter to be less than we anticipated.”

Cash America also announced that it is withdrawing its previously published earnings expectations for fiscal 2005 because of uncertainties surrounding the FDIC’s new guidance affecting short-term cash advances. The guidance will restrict the offering of short-term cash advances by FDIC-regulated banks, and two of those banks offer cash advances through many of Cash America’s stores. The banks are in the process of submitting their plans to the FDIC for compliance with the new guidance. At this point, the Company does not know when or to what extent the banks’ cash advance business will change as a result of the compliance plans that the FDIC may ultimately approve. Therefore, the Company cannot predict with any degree of certainty the extent to which the eventual change in the banks’ cash advance business will impact Cash America’s earnings. The Company intends to publish guidance in the future when the situation involving the banks’ cash advance business becomes certain enough for it to do so.

Cash America will host a conference call to discuss its preliminary view of the first quarter Friday, April 15th at 7:30 AM CST. A live web cast of the call will be available on the home page of the Company’s corporate web site (www.cashamerica.com). To listen to the live call, please go to the web site at least fifteen minutes early to register, download, and install any necessary audio software.

Cash America International, Inc. is a provider of specialty financial services to individuals in the United States with 851 total locations. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 452 locations in 21 states under the brand name Cash America Pawn and SuperPawn. The Company also offers short-term cash advances in many of its U.S. locations including 264 locations that offer this service under the brand names Cash America Payday Advance and Cashland. In addition, check cashing services are provided through its 135 franchised and Company-owned “Mr. Payroll” check cashing centers.

This release contains forward-looking statements about the business, financial condition and prospects of Cash America International, Inc. and its subsidiaries (“the Company”). The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation, changes in demand for the Company’s services, the actions of third parties who offer products and services at the Company’s locations, changes in competition, the ability of the Company to open new operating units in accordance with its plans, economic conditions, real estate market fluctuations, interest rate fluctuations, changes in the capital markets, changes in tax and other laws and governmental rules and regulations applicable to the Company’s business, and other risks indicated in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, and, in many cases, the Company cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes”, “estimates”, “plans”, “expects”, “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

* * *

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-----END PRIVACY-ENHANCED MESSAGE-----