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Quarterly Information (Unaudited)
12 Months Ended
Sep. 30, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
NOTE 17: QUARTERLY INFORMATION (UNAUDITED)
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
 
 
 
 
 
 
 
 
(in thousands, except per share amounts)
Year Ended September 30, 2018
 
 
 
 
 
 
 
Total revenues
$
204,508

 
$
202,734

 
$
199,942

 
$
206,331

Net revenues
122,427

 
120,593

 
115,072

 
124,818

Income from continuing operations, net of tax
12,355

 
11,939

 
14,183

 
450

(Loss) income from discontinued operations, net of tax
(222
)
 
(500
)
 
91

 
(225
)
Net income
12,133

 
11,439

 
14,274

 
225

Net loss attributable to noncontrolling interest
(615
)
 
(374
)
 
(359
)
 
360

Net income attributable to EZCORP, Inc.
$
12,748


$
11,813


$
14,633


$
(135
)
 
 
 
 
 
 
 
 
Basic earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.24

 
$
0.23

 
$
0.27

 
$

Discontinued operations

 
(0.01
)
 

 

Basic earnings per share
$
0.24

 
$
0.22

 
$
0.27

 
$

 
 
 
 
 
 
 
 
Diluted earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.23

 
$
0.21

 
$
0.25

 
$

Discontinued operations

 
(0.01
)
 

 

Diluted earnings per share
$
0.23

 
$
0.20

 
$
0.25

 
$

 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
 
 
 
 
 
 
 
 
(in thousands, except per share amounts)
Year Ended September 30, 2017
 
 
 
 
 
 
 
Total revenues
$
192,624

 
$
189,628

 
$
183,633

 
$
182,069

Net revenues
111,965

 
109,897

 
105,555

 
108,093

Income from continuing operations, net of tax
8,266

 
8,231

 
5,467

 
10,069

Income (loss) from discontinued operations, net of tax
(1,228
)
 
(375
)
 
(265
)
 
43

Net income
7,038

 
7,856

 
5,202

 
10,112

Net loss attributable to noncontrolling interest
(127
)
 
(167
)
 
(58
)
 
(1,298
)
Net income attributable to EZCORP, Inc.
$
7,165

 
$
8,023

 
$
5,260

 
$
11,410

 
 
 
 
 
 
 
 
Basic earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.15

 
$
0.15

 
$
0.10

 
$
0.21

Discontinued operations
(0.02
)
 
(0.01
)
 

 

Basic earnings per share
$
0.13


$
0.14

 
$
0.10


$
0.21

 
 
 
 
 
 
 
 
Diluted earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.15

 
$
0.15

 
$
0.10

 
$
0.21

Discontinued operations
(0.02
)
 
(0.01
)
 

 

Diluted earnings per share
$
0.13


$
0.14

 
$
0.10

 
$
0.21


Fiscal 2018 Quarterly Impacts
In the fourth quarter of fiscal 2018, we recorded an $11.7 million impairment ($9.2 million million net of tax) of our investment in Cash Converters International.
During the first and third quarters of fiscal 2018, we recorded a $1.6 million and $3.3 million benefit, respectively, associated with the expiration of a statute of limitations on uncertain tax positions included under “Income tax expense” in our consolidated statements of operations. Additionally, in the first and fourth quarters of fiscal 2018 we recorded $2.8 million and $1.9 million, respectively, for the revaluation of our deferred tax assets and liabilities upon enactment of the Tax Cuts and Jobs Act of 2017 included under "Income tax expense" in our consolidated statements of operations.
Interest expense during our third and fourth quarters of fiscal 2018 began trending higher as a result of the issuance of 2025 Convertible Notes as further discussed in Note 8.
In the third quarter of fiscal 2018, we settled a derivative action styled Treppel v. Cohen, et al., originally filed July 2014 and amended in September 2014, with a total of $6.5 million paid into a settlement fund. After payment of an approved $1.3 million fee award to the plaintiff's attorneys, the remaining $5.2 million of the settlement fund was paid to the Company because, as a derivative action, the lawsuit was brought on behalf of the Company. We recorded that amount under "Other (income) expense" in our consolidated statements of operations for the third quarter of fiscal 2018.
Fiscal 2017 Quarterly Impacts
During the fourth quarter of fiscal 2017, we recorded a gain of $3.0 million included under “Interest income” in our consolidated statements of operations as a result of the amendment of notes receivable from Grupo Finmart, as further discussed in Note 5.
During the fourth quarter of fiscal 2017, we recorded an extinguishment loss of $5.3 million included under “Interest expense” in our consolidated statements of operations as a result of the repurchase and retirement of $35 million aggregate principal amount of 2019 Convertible Notes and the full retirement of our Term Loan Facility using proceeds from the issuance of our 2024 Convertible Notes, as further discussed in Note 8.