8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, 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 23, 2009

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:

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

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

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

⃞ 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 23, 2009, Cash America International, Inc. (the “Company”) announced its consolidated financial results for the three months ended March 31, 2009.  A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(d)	Exhibits – The following exhibit is furnished pursuant to the disclosures included under Item 2.02 of this Current Report on Form 8-K.
	99.1     Cash America International, Inc. press release, dated April 23, 2009

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 23, 2009	By:	/s/ J. Curtis Linscott
			J. Curtis Linscott
			Executive Vice President, General Counsel &
			Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Cash America International, Inc. press release, dated April 23, 2009

EX-99.1

Exhibit 99.1

Cash America Announces First Quarter Earnings and Declares Dividend

FORT WORTH, Texas--(BUSINESS WIRE)--April 23, 2009--Cash America International, Inc. (NYSE: CSH) announced today that net income for the first quarter ended March 31, 2009 was $23,911,000 (79 cents per share) compared to net income of $25,811,000 (86 cents per share) for the same period in 2008. Earnings per share for the first three months of 2009 exceeded management’s updated guidance of 76 to 78 cents per share as discussed in the Company’s press release dated April 9, 2009 and even though earnings ended down 7% year over year, they are significantly better than management’s initial expectation published in January 2009 of down 25%. Increased total revenue, led by better than expected results from pawn lending operations and prolonged availability of certain online cash advance markets contributed to the higher than expected first quarter results. In addition, earnings in the first quarter of 2009 benefited from an improvement in loss rates related to the Company’s short-term cash advance product that led to a decrease in the provision for loan losses in the period compared to the same period in 2008.

Total revenue increased 7% to $268.1 million for the three-month period ended March 31, 2009 compared to $250.9 million in the year ago period. Revenue from the Company’s pawn segment, which includes finance and service charges on pawn loans and proceeds from the sale of merchandise, increased 14% to $182.7 million from $160.0 million in year-over-year first quarter comparisons. This was partially offset by a decline in the total revenue from the Company’s cash advance segment, which posted a 6% decrease in total revenue to $80.3 million during the first three months of 2009 compared to $85.5 million in the same period in 2008. The decline in revenue in the cash advance segment was largely attributable to operations in states impacted by changes in the regulatory environment late in 2008.

Commenting on the first quarter results, Daniel R. Feehan, President and Chief Executive Officer of Cash America said, “The first quarter results were above our initial expectations due to the strong contribution of both our U.S. and Mexico based pawn operations and the unexpected continuation of our online cash advance offering in certain states. Revenue from pawn loans was up 22% because of the higher balances outstanding and portfolio performance, which led the greater earnings results in this segment. As we expected, revenue and earnings from our cash advance segment were adversely affected by rule changes to our cash advance product offering in Ohio and Florida and to a lesser extent in Pennsylvania. The first quarter of 2009 has been a period of significant adjustment which we have handled better than we expected.”

Cash America will host a conference call to discuss the first quarter results on Thursday, April 23rd at 7:45 AM CDT. A live web cast of the call will be available on the Investor Relations section 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. A replay will be available on the Company’s web site for 90 days following the conference call.

Additionally, the Company announced that the Board of Directors, at its regularly scheduled quarterly meeting, declared a $0.035 (3.5 cents) per share cash dividend on common shares outstanding. The dividend will be paid at the close of business on May 20, 2009 to shareholders of record on May 6, 2009.

Outlook for the Second Quarter of 2009 and the 2009 Fiscal Year

Management believes that the opportunities for sustained growth in revenue and earnings will be largely associated with the customer demand for the credit products provided by the Company, which take the form of pawn loans and short-term cash advances. Other elements expected to affect the growth in revenue include the potential impact of the regulatory governance of loan products, the continued growth and development of the Mexican pawn operations and the development and expansion of the Company’s online and card based distribution channels for its cash advance products. The impact of regulatory changes in our Ohio storefront locations and the anticipated decrease in customers in Pennsylvania and Minnesota in the online channel will cause revenue and earnings for the cash advance segment to be down in the second quarter. In addition, the absence of Federal Stimulus Payments will likely cause revenue and earnings from U.S. pawn operations to be below the prior year. However, management believes the anniversary revenue challenges discussed for the first half of 2009 could begin to improve in the second half of the year if loan demand firms for both pawn and cash advance products. While the Company intends to maintain its current underwriting standards, higher loan demand for the cash advance product could lead to higher loan losses associated with the difficult consumer economic environment. Based on its views and on the preceding factors, management expects that the second quarter 2009 earnings per share will be between 50 and 53 cents per share compared to 67 cents per share in the second quarter 2008. Management estimates that for the full year 2009 earnings per share will be between $3.10 and $3.30 per share compared to $2.70 per share in fiscal 2008.

Cash America International, Inc. is a provider of specialty financial services to individuals in the United States with 1,004 total locations as of March 31, 2009. Cash America is the largest provider of secured non-recourse loans to individuals, commonly referred to as pawn loans, through 628 total pawn locations, comprised, in part, of 501 in 22 states under the brand names Cash America Pawn and SuperPawn. In addition, Cash America is the majority owner of 127 pawn lending locations in Mexico that operate under the name of Prenda Fácil. The Company also offers short-term cash advances in many of its locations including 248 locations that offer this service under the brand names Cash America Payday Advance and Cashland. Short-term cash advances are also offered over the Internet to customers in 32 states in the United States and in the United Kingdom at http://www.cashnetusa.com and http://www.quickquid.co.uk, respectively. In addition, check cashing services are provided through its 128 franchised and Company-owned “Mr. Payroll” check cashing centers.

For additional information regarding the Company and the services it provides, visit the Company’s websites located at:

http://www.cashamerica.com http://www.cashnetusa.com

http://www.cashlandloans.com http://www.quickquid.co.uk

http://www.strikegoldnow.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

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 consumer credit, tax and other laws and government rules and regulations applicable to the Company’s business, changes in demand for the Company's services, the continued acceptance of the online distribution channel by the Company’s cash advance customers, the actions of third parties who offer products and services at the Company’s locations, changes in tax and other laws and governmental rules and regulations applicable to the Company’s business, fluctuations in the price of gold, 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 foreign currency exchange rates, changes in the capital markets, the ability to successfully integrate newly acquired businesses into the Company’s operations 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, nor can the Company 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,” “should,” “could” “plans,” “expects,” “anticipates” and similar expressions or variations 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.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
HIGHLIGHTS OF CONSOLIDATED RESULTS OF OPERATIONS
(in thousands, except per share data)
	Three Months Ended
	March 31,
	2009			2008
Consolidated Operations:
Total revenue	$	268,092		$	250,934
Net revenue		185,590			179,418
Total operating expenses		142,111			134,946
Income from operations	$	43,479		$	44,472
Income before income taxes		38,289			40,990
Net Income	$	24,226		$	25,811
Less: Net income attributable to the noncontrolling interest		(315	)		-
Net Income Attributable to Cash America International, Inc.	$	23,911		$	25,811
Earnings per share:
Net Income attributable to Cash America International, Inc. common stockholders:
Basic	$	0.80		$	0.88
Diluted	$	0.79		$	0.86
Weighted average shares:
Basic		29,770			29,376
Diluted		30,419			29,995

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
		March 31,						December 31,
		2009			2008			2008
		(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	25,676		$	22,637		$	30,005
Pawn loans		148,147			124,775			168,747
Cash advances, net		75,880			74,179			83,850
Merchandise held for disposition, net		99,516			93,027			109,493
Finance and service charges receivable		28,709			24,496			33,063
Income taxes recoverable		-			-			2,606
Other receivables and prepaid expenses		19,028			17,944			15,480
Deferred tax assets		19,301			19,198			22,037
Total current assets		416,257			376,256			465,281
Property and equipment, net		186,622			168,586			185,887
Goodwill		489,779			347,434			494,192
Intangible assets, net		31,456			22,424			35,428
Other assets		5,498			5,185			5,722
Total assets	$	1,129,612		$	919,885		$	1,186,510
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	69,288		$	60,921		$	79,759
Accrued supplemental acquisition payment		7,700			63,213			47,064
Customer deposits		10,133			8,682			8,814
Income taxes currently payable		3,687			12,196			-
Current portion of long-term debt		18,714			8,500			15,810
Total current liabilities		109,522			153,512			151,447
Deferred tax liabilities		31,042			20,482			27,575
Noncurrent income tax payable		2,968			-			3,050
Other liabilities		3,942			1,806			2,359
Long-term debt		380,902			224,970			422,344
Total liabilities		528,376			400,770			606,775
Stockholders’ equity:
Cash America International, Inc. equity:
Common stock, $.10 par value per share, 80,000,000 shares authorized, 30,235,164 shares issued
		3,024			3,024			3,024
Additional paid-in capital		158,216			162,240			160,007
Retained earnings		463,131			387,970			440,252
Accumulated other comprehensive loss		(6,107	)		(1	)		(3,964	)
Treasury shares, at cost (753,207 shares, 1,161,482 shares and 818,772 shares at March 31, 2009 and 2008, and at December 31, 2008, respectively)
		(21,919	)		(34,118	)		(24,278	)
Total Cash America International, Inc. stockholders’ equity		596,345			519,115			575,041
Noncontrolling interest		4,891			-			4,694
Total stockholders' equity		601,236			519,115			579,735
Total liabilities and stockholders’ equity	$	1,129,612		$	919,885		$	1,186,510

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
		Three Months Ended
		March 31,
		2009			2008
		(Unaudited)
Revenue
Finance and service charges	$	52,959		$	43,421
Proceeds from disposition of merchandise		129,760			116,583
Cash advance fees		80,308			85,460
Check cashing fees, royalties and other		5,065			5,470
Total Revenue		268,092			250,934
Cost of Revenue
Disposed merchandise		82,502			71,516
Net Revenue		185,590			179,418
Expenses
Operations		85,531			80,725
Cash advance loss provision		24,774			27,134
Administration		21,465			17,956
Depreciation and amortization		10,341			9,131
Total Expenses		142,111			134,946
Income from Operations		43,479			44,472
Interest expense		(5,069	)		(3,509	)
Interest income		15			31
Foreign currency transaction loss		(136	)		(4	)
Income before Income Taxes		38,289			40,990
Provision for income taxes		14,063			15,179
Net Income		24,226			25,811
Less: Net income attributable to the noncontrolling interest		(315	)		-
Net Income Attributable to Cash America International, Inc.	$	23,911		$	25,811
Earnings Per Share:
Net Income attributable to Cash America International, Inc. common stockholders:
Basic	$	0.80		$	0.88
Diluted	$	0.79		$	0.86
Weighted average common shares outstanding:
Basic		29,770			29,376
Diluted		30,419			29,995
Dividends declared per common share	$	0.035		$	0.035

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA
($ in thousands unless otherwise noted)
	Period Ended
	March 31,
	2009	2008
Location statistics
Pawn segment locations in operation –
Beginning of period, owned	598	485
Acquired	1	-
Start-ups	14	-
Combined or closed	-	-
End of period, owned	613	485
Franchise locations at end of period	15	14
Total pawnshop locations at end of period	628	499
Average number of owned pawnshop locations	605	485
Cash advance segment locations in operation (excluding online lending and card services) –
Beginning of period	248	304
Start-ups	-	-
Combined or closed	-	-
End of period	248	304
Average number of cash advance locations	248	304
Check cashing segment locations -
Company-owned locations	5	5
Franchised locations (a)	123	131
Total check cashing centers in operation at end of year (a)	128	136
Combined total of all locations	1,004	939
Services offered by locations
Pawn lending -
Pawn lending segment :
Domestic	486	485
Foreign	127	-
Franchise - domestic	15	14
Combined pawn lending segment	628	499
Cash advance segment - storefront operations	85	-
Total locations offering pawn lending	713	499
Cash advances -
Cash advance segment - storefront operations	248	304
Pawn lending segment -domestic	431	430
Total locations offering cash advances	679	734
Check cashing -
Check cashing segment
Company-owned locations	5	5
Franchised locations (a)	123	131
Total check cashing segment	128	136
Cash advance segment - storefront operations	248	304
Pawn lending segment -domestic	369	387
Total locations offering check cashing	745	827

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA (Continued)
($ in thousands unless otherwise noted)
		Three Months Ended
		March 31,
		2009		2008
Market coverage
Market coverage for pawn lending at end of period
States in the U.S.		22		22
Foreign countries		1		-
Market coverage for cash advances at end of period
States and other jurisdictions in the U.S.
Storefront		7		7
Online		32		33
Card services		52		-
Foreign countries
Online		1		1
Pawn Lending Activities
Annualized yield on pawn loans --
Pawn lending segment :
Domestic		135.7	%	135.0	%
Foreign		158.5	%	-	%
Combined pawn lending segment		138.1	%	135.0	%
Cash advance segment - storefront operations		112.6	%	-	%
Combined annualized yield on pawn loans		138.1	%	135.0	%
Amount of pawn loans written and renewed --
Pawn lending segment :
Domestic	$	136,032	$	131,981
Foreign		23,809		-
Combined pawn lending segment	$	159,841	$	131,981
Cash advance segment - storefront operations		72		-
Combined amount of pawn loans written and renewed	$	159,913	$	131,981
Average pawn loan balance outstanding --
Pawn lending segment :
Domestic	$	138,938	$	129,349
Foreign		16,541		-
Combined pawn lending segment		155,479		129,349
Cash advance segment - storefront operations		18		-
Combined average pawn loan balance outstanding	$	155,497	$	129,349
Ending pawn loan balance --
Pawn lending segment :
Domestic	$	130,558	$	124,775
Foreign		17,518		-
Combined pawn lending segment		148,076		124,775
Cash advance segment - storefront operations		71		-
Combined ending pawn loan balance per location offering pawn loans	$	148,147	$	124,775
Ending pawn loan balance per location offering pawn loans --
Pawn lending segment :
Domestic	$	269	$	257
Foreign	$	138	$	-
Combined pawn lending segment	$	242	$	257
Cash advance segment - storefront operations	$	1	$	-
Combined ending pawn loan balance per location offering pawn loans	$	212	$	257

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA (Continued)
($ in thousands unless otherwise noted)
		Three Months Ended
		March 31,
		2009			2008
Average pawn loan amount at end of period (not in thousands) --
Pawn lending segment :
Domestic	$	122		$	117
Foreign	$	93		$	-
Combined pawn lending segment	$	118		$	117
Cash advance segment - storefront operations	$	90		$	-
Combined average pawn loan amount at end of period (not in thousands)	$	118		$	117
Disposition of merchandise --
Profit margin on disposition of merchandise
Pawn lending segment - domestic		36.5	%		38.7	%
Cash advance segment - storefront operations		33.2			-
Combined profit margin on disposition of merchandise		36.4	%		38.7	%
Disposition of merchandise - pawn lending segment - domestic --
Average annualized merchandise turnover		3.1	x		3.0	x
Average balance of merchandise held for disposition per average location in operation
	$	216		$	199
Ending balance of merchandise held for disposition per location in operation
	$	205		$	192
Cash advance activities
Amount of cash advances written --
Funded by the Company
Cash advance segment:
Storefront	$	137,757		$	153,062
Internet lending		157,709			159,921
Total cash advance segment	$	295,466		$	312,983
Pawn lending segment - domestic		13,880			13,947
Combined funded by the Company	$	309,346		$	326,930
Funded by third-party lenders (a) (b)
Cash advance segment:
Storefront	$	20,114		$	25,564
Internet lending		107,918			98,543
Card services (e)		19,787			-
Total cash advance segment	$	147,819		$	124,107
Pawn lending segment - domestic		30,764			37,996
Combined funded by third-party lenders (a) (b)	$	178,583		$	162,103
Aggregate amount of cash advances written(a) (c) -
Cash advance segment:
Storefront	$	157,871		$	178,626
Internet lending		265,627			258,464
Card services (e)		19,787			-
Total cash advance segment	$	443,285		$	437,090
Pawn lending segment - domestic		44,644			51,943
Combined aggregate amount of cash advances written(a) (g)	$	487,929		$	489,033

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA (Continued)
($ in thousands unless otherwise noted)
		Three Months Ended
		March 31,
		2009		2008
Number of cash advances written (not in thousands) -
Funded by the Company
Cash advance segment:
Storefront		309,849		418,597
Internet lending		390,023		389,416
Total cash advance segment		699,872		808,013
Pawn lending segment - domestic		41,835		45,146
Combined by the Company		741,707		853,159
Funded by third-party lenders (a) (e)
Cash advance segment:
Storefront		33,978		45,709
Internet lending		146,576		148,947
Card services (e)		125,160		-
Total cash advance segment		305,714		194,656
Pawn lending segment - domestic		56,882		80,389
Combined by third-party lenders (a) (b)		362,596		275,045
Cash advance segment:
Storefront		343,827		464,306
Internet lending		536,599		538,363
Card services (e)		125,160		-
Total cash advance segment		1,005,586		1,002,669
Pawn lending segment - domestic		98,717		125,535
Combined aggregate number of cash advances written (a) (c)		1,104,303		1,128,204
Cash advance customer balances (gross):
Owned by Company (d)
Cash advance segment:
Storefront	$	31,066	$	39,181
Internet lending		51,866		48,961
Card services (e)		4,740		-
Total cash advance segment	$	87,672	$	88,142
Pawn lending segment - domestic		5,486		6,852
Combined by the Company	$	93,158	$	94,994
Owned by third-party lenders (a)(b)
Cash advance segment :
Storefront	$	3,228	$	4,114
Internet lending		19,649		18,567
Card services (e)		458		-
Total cash advance segment	$	23,335	$	22,681
Pawn lending segment - domestic		5,465		6,788
Combined owned by third-party lenders (a)(b)	$	28,800	$	29,469
Aggregate cash advance customer balances (gross) (a) (c) -
Cash advance segment:
Storefront	$	34,294	$	43,295
Internet lending		71,515		67,528
Card services (e)		5,198		-
Total cash advance segment	$	111,007	$	110,823
Pawn lending segment - domestic		10,951		13,640
Combined aggregate cash advance customer balances (gross) (a)(c)	$	121,958	$	124,463

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA (Continued)
($ in thousands unless otherwise noted)
		Three Months Ended
		March 31,
		2009		2008
Average amount per cash advance written (not in thousands) -
Funded by the Company
Cash advance segment:
Storefront	$	445	$	366
Internet lending	$	404	$	411
Total cash advance segment	$	422	$	387
Pawn lending segment - domestic	$	332	$	309
Combined by the Company	$	417	$	383
Funded by third-party lenders (a) (b)
Cash advance segment
Storefront	$	592	$	559
Internet lending	$	736	$	662
Card services	$	158	$	-
Total cash advance segment	$	484	$	638
Pawn lending segment - domestic	$	541	$	473
Combined by third-party lenders (a) (b)	$	493	$	589
Aggregate average amount per cash advance (a) (c) -
Cash advance segment:
Storefront	$	459	$	385
Internet lending	$	495	$	480
Card services (e)	$	158	$	-
Total cash advance segment	$	441	$	436
Pawn lending segment - domestic	$	452	$	414
Combined aggregate average amount per cash advance (a) (c)	$	442	$	433
Check cashing
Face amount of checks cashed -
Company-owned locations:
Check cashing segment	$	6,703	$	7,673
Cash advance segment		62,139		65,789
Pawn lending segment		8,077		11,856
Combined company-owned locations		76,919		85,318
Franchised locations - check cashing segment (a)		323,898		362,137
Combined face amount of checks cashed (a)	$	400,817	$	447,455
Fees collected from customers -
Company-owned locations:
Check cashing segment	$	110	$	123
Cash advance segment		1,592		2,016
Pawn lending segment		166		237
Combined company-owned locations		1,868		2,376
Franchised locations - check cashing segment (a)		4,816		5,370
Combined fees collected from customers (a)	$	6,684	$	7,746
Fees as a percentage of checks cashed -
Company-owned locations:
Check cashing segment		1.6	%	1.6	%
Cash advance segment		2.6		3.1
Pawn lending segment		2.1		2.0
Combined company-owned locations		2.4		2.8
Franchised locations - check cashing segment(a)		1.5		1.5
Combined fees as a percentage of checks cashed (a)		1.7	%	1.7	%

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
FINANCIAL AND OPERATING DATA (Continued)
($ in thousands unless otherwise noted)
		Three Months Ended
		March 31,
		2009		2008
Average check cashed (not in thousands) -
Company-owned locations:
Check cashing segment	$	461	$	416
Cash advance segment		691		606
Pawn lending segment		520		557
Combined company-owned locations		641		575
Franchised locations - check cashing segment (a)		544		517
Combined average check cashed (a)	$	560	$	527
(a) Non-GAAP presentation. For informational purposes and to provide a greater understanding of the Company’s businesses. Management believes that information provided with this level of detail is meaningful and useful in understanding the activities and business metrics of the Company’s operations. Each non-GAAP financial measure is provided immediately following its most comparable GAAP amount and can be reconciled to its most comparable GAAP amount through the presentation of the financial information above.
(b) Cash advances written by third-party lenders that were arranged by the Company on behalf of the third-party lenders.
(c) Includes (i) cash advances written by the Company, and (ii) cash advances written by third-party lenders that were arranged by the Company on behalf of the third-party lenders.
(d) Amounts recorded in the Company’s consolidated financial statements.
(e) Cash advances issued by a third-party lender utilizing the Company as a processor to process these cash advances under a line of credit offered on certain stored-value and payroll cards issued by such lender. The Company acquires a participation interest in the cash advance receivables generated through this program. Cash advance fees associated with the Company’s card services activities include revenue from the Company’s participation interest in the receivables generated by the third party lender, as well as marketing, processing and other miscellaneous fee income. (Note: the Company did not commence business in the card services distribution channel until the third quarter of 2008).

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED CASH ADVANCES OUTSTANDING AND RELATED ALLOWANCE FOR LOSSES
(in thousands)
		March 31,
		2009			2008
Funded by the Company (a)
Active cash advances and fees receivable	$	64,362		$	63,952
Cash advances and fees in collection		15,075			21,104
Total funded by the Company (a)		79,437			85,056
Funded by third-party lenders (b) (c)
Active cash advances and fees receivable		32,117			29,469
Cash advances and fees in collection		10,404			9,938
Total funded by third-party lenders (b) (c)		42,521			39,407
Combined gross portfolio (b) (d)		121,958			124,463
Less: Elimination of cash advances owned by third-party lenders		28,800			29,469
Company-owned cash advances and fees receivable, gross		93,158			94,994
Less: Allowance for losses		17,278			20,815
Cash advances and fees receivable, net	$	75,880		$	74,179
		Three Months Ended
		March 31,
		2009			2008
Allowance for company-owned cash advances
Balance at beginning of period	$	21,495		$	25,676
Cash advance loss provision		25,387			26,974
Charge-offs		(34,926	)		(40,822	)
Recoveries		5,322			8,987
Balance at end of period	$	17,278		$	20,815
Accrual for third-party lender-owned cash advances
Balance at beginning of period	$	2,135		$	1,828
(Decrease) Increase in loss provision		(613	)		160
Balance at end of period	$	1,522		$	1,988
Combined statistics (d)
Combined cash advance loss provision	$	24,774		$	27,134
Charge-offs (net of recoveries)		29,604			31,835
Combined cash advance loss provision as a % of combined cash advances written (b)
		5.1	%		5.5	%
Charge-offs (net of recoveries) as a % of combined cash advances written (b)
		6.1	%		6.5	%
Combined allowance for losses and accrued third-party lender losses as a % of combined gross portfolio (b)
		15.4	%		18.3	%
(a) Cash advances written by the Company for its own account in pawn locations, cash advance locations, and through the internet distribution channel.
(b) Non-GAAP presentation. For informational purposes and to provide a greater understanding of the Company’s businesses. Management believes that information provided with this level of detail is meaningful and useful in understanding the activities and business metrics of the Company’s operations. Each non-GAAP financial measure is provided immediately following its most comparable GAAP amount and can be reconciled to its most comparable GAAP amount through the presentation of the financial information above.
(c) Cash advances written by third-party lenders that were arranged by the Company on behalf of the third-party lenders, all at the Company’s pawn locations, cash advance locations and through the internet distribution channel.
(d) Includes (i) cash advances written by the Company, and (ii) cash advances written by third-party lenders that were arranged by the Company on behalf of the third-party lenders, all at the Company’s pawn and cash advance locations and through the Company’s internet distribution channel.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
INCOME FROM OPERATIONS BY OPERATING SEGMENT
THREE MONTHS ENDED MARCH 31, 2009 AND 2008
(in thousands)
		Pawn Lending (1)		Cash Advance (2)		Check Cashing		Consolidated
Three months ended March 31, 2009:
Revenue
Finance and service charges	$	52,954	$	5	$	-	$	52,959
Proceeds from disposition of merchandise		128,002		1,758		-		129,760
Cash advance fees		7,578		72,730		-		80,308
Check cashing fees, royalties and other		1,036		3,097		932		5,065
Total revenue		189,570		77,590		932		268,092
Cost of revenue – disposed merchandise		81,329		1,173		-		82,502
Net revenue		108,241		76,417		932		185,590
Expenses
Operations		57,596		27,600		335		85,531
Cash advance loss provision		1,222		23,552		-		24,774
Administration		11,750		9,473		242		21,465
Depreciation and amortization		7,097		3,161		83		10,341
Total expenses		77,665		63,786		660		142,111
Income from operations	$	30,576	$	12,631	$	272	$	43,479
Three months ended March 31, 2008:
Revenue
Finance and service charges	$	43,421	$	-	$	-	$	43,421
Proceeds from disposition of merchandise		116,583		-		-		116,583
Cash advance fees		9,285		76,175		-		85,460
Check cashing fees, royalties and other		1,013		3,437		1,020		5,470
Total revenue		170,302		79,612		1,020		250,934
Cost of revenue – disposed merchandise		71,516		-		-		71,516
Net revenue		98,786		79,612		1,020		179,418
Expenses
Operations		53,911		26,431		383		80,725
Cash advance loss provision		2,265		24,869		-		27,134
Administration		10,672		7,071		213		17,956
Depreciation and amortization		5,591		3,476		64		9,131
Total expenses		72,439		61,847		660		134,946
Income from operations	$	26,347	$	17,765	$	360	$	44,472

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
INCOME FROM OPERATIONS BY OPERATING SEGMENT
THREE MONTHS ENDED MARCH 31, 2009 AND 2008
(in thousands)
(1)	The Pawn Lending segment is comprised of the Company’s domestic pawn lending operations and its foreign pawn lending operations in Mexico operating under the Prenda Facil tradename. The following table summarizes the results from each channel’s contributions to the Pawn Lending segment for the three months ended March 31, 2009 and 2008:
			Domestic		Foreign		Total Pawn Lending
	Three months ended March 31, 2009:
	Revenue
	Finance and service charges	$	46,491	$	6,463	$	52,954
	Proceeds from disposition of merchandise		128,002		-		128,002
	Cash advance fees		7,578		-		7,578
	Check cashing fees, royalties and other		967		69		1,036
	Total revenue		183,038		6,532		189,570
	Cost of revenue – disposed merchandise		81,329		-		81,329
	Net revenue		101,709		6,532		108,241
	Expenses
	Operations		55,185		2,411		57,596
	Cash advance loss provision		1,222		-		1,222
	Administration		10,270		1,480		11,750
	Depreciation and amortization		6,269		828		7,097
	Total expenses		72,946		4,719		77,665
	Income from operations	$	28,763	$	1,813	$	30,576
	Three months ended March 31, 2008:
	Revenue
	Finance and service charges	$	43,421	$	-	$	43,421
	Proceeds from disposition of merchandise		116,583		-		116,583
	Cash advance fees		9,285		-		9,285
	Check cashing fees, royalties and other		1,013		-		1,013
	Total revenue		170,302		-		170,302
	Cost of revenue – disposed merchandise		71,516		-		71,516
	Net revenue		98,786		-		98,786
	Expenses
	Operations		53,911		-		53,911
	Cash advance loss provision		2,265		-		2,265
	Administration		10,672		-		10,672
	Depreciation and amortization		5,591		-		5,591
	Total expenses		72,439		-		72,439
	Income from operations	$	26,347	$	-	$	26,347

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
INCOME FROM OPERATIONS BY OPERATING SEGMENT
THREE MONTHS ENDED MARCH 31, 2009 AND 2008
(in thousands)
(2)	The Cash Advance segment is comprised of three distribution channels - a multi-unit “storefront” platform, an online, internet based lending platform, and a card services business. The following table summarizes the results from each channel’s contributions to the Cash Advance segment for the three months ended March 31, 2009 and 2008:
			Storefront		Internet Lending		Card Services			Total Cash Advance
	Three months ended March 31, 2009:
	Revenue
	Finance and service charges	$	5	$	-	$	-		$	5
	Proceeds from disposition of merchandise		1,758		-		-			1,758
	Cash advance fees		19,134		51,756		1,840			72,730
	Check cashing fees, royalties and other		2,887		208		2			3,097
	Total revenue		23,784		51,964		1,842			77,590
	Cost of revenue – disposed merchandise		1,173		-		-			1,173
	Net revenue		22,611		51,964		1,842			76,417
	Expenses
	Operations		15,368		11,301		931			27,600
	Cash advance loss provision		2,662		20,152		738			23,552
	Administration		2,119		7,257		97			9,473
	Depreciation and amortization		1,435		1,610		116			3,161
	Total expenses		21,584		40,320		1,882			63,786
	Income from operations	$	1,027	$	11,644	$	(40	)	$	12,631
	Three months ended March 31, 2008:
	Revenue
	Cash advance fees	$	28,693	$	47,482	$	-		$	76,175
	Check cashing fees, royalties and other		3,437		-		-			3,437
	Total revenue		32,130		47,482		-			79,612
	Expenses
	Operations		16,881		9,550		-			26,431
	Cash advance loss provision		4,346		20,523		-			24,869
	Administration		2,402		4,669		-			7,071
	Depreciation and amortization		2,425		1,051		-			3,476
	Total expenses		26,054		35,793		-			61,847
	Income from operations	$	6,076	$	11,689	$	-		$	17,765

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
INVENTORY AND GROSS PROFIT OPERATING DATA
THREE MONTHS ENDED MARCH 31, 2009 AND 2008
The table below summarizes the age of merchandise held for disposition before valuation allowance at March 31, 2009 and 2008, respectively (dollars in thousands).
		2009				2008
		Amount	%			Amount	%
Merchandise held for 1 year or less –
Jewelry	$	67,684	67.5	%	$	61,076	64.2	%
Other merchandise		24,477	24.4			25,085	26.4
		92,161	91.9			86,161	90.6
Merchandise held for more than 1 year –
Jewelry		5,192	5.2			5,500	5.8
Other merchandise		2,863	2.9			3,415	3.6
		8,055	8.1			8,915	9.4
Total merchandise held for disposition	$	100,216	100.0	%	$	95,076	100.0	%

Non-GAAP Disclosure

In addition to the financial information prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), the Company provides historical non GAAP financial information. Each non-GAAP financial measure included in the Company’s consolidated financial statements has been indicated by footnote. Each non-GAAP financial measure is provided immediately following its most comparable GAAP amount.

Management uses the non-GAAP financial measures for internal managerial purposes and believes that presentation of non-GAAP financial information is meaningful and useful in understanding the activities and business metrics of the Company’s operations. Management believes that these non-GAAP financial measures reflect an additional way of viewing aspects of our business that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business.

Management provides non-GAAP financial information for informational purposes and to enhance understanding of the Company’s GAAP consolidated financial statements. Readers should consider the information in addition to, but not instead of, the Company’s financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.

CONTACT:
Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100