EZCORP (EZPW) Cuts Q3, Q4 and FY09 EPS Outlooks

June 11, 2009 4:43 PM EDT

EZCORP (Nasdaq: EZPW) lowers its Q3 EPS guidance from about $0.34 to $0.29-$0.31, versus the consensus of $0.34 and its Q4 EPS outlook from $0.46-$0.48 to $0.41-$0.43, which compares to the Street estimate of $0.46

For FY09, EZCORP now sees EPS in the range of $1.40-$1.44, down from $1.50-$1.52 previously, and versus the consensus of $1.51.

Commenting on the revised earnings expectations, President and Chief Executive Officer, Joe Rotunda, stated, "As we have moved through our June quarter, we have seen lower than anticipated levels of demand in our U.S. operations for our loan products and previously owned merchandise. The continuing depressed economic environment is having an effect on our business that is not consistent with traditional or expected patterns. The revenue impact of these lower levels of demand has caused us to be more conservative in our earnings expectations for the June quarter and the balance of the year. We are fortunate that during these economic times we continue to have earnings growth, strong cash flows and a sound balance sheet."

Related Categories

Guidance

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?