WRLD up 3% on 37% rise in net income. 23 new offices.
World Acceptance Corporation Reports Record Third Quarter Results
Tuesday January 20, 9:56 am ET
Adds 23 Offices by Acquisition During the Quarter
GREENVILLE, S.C., Jan. 20 /PRNewswire-FirstCall/ -- World Acceptance Corporation (Nasdaq: WRLD - News) today reported higher revenue, net income and loans for its third fiscal quarter ended December 31, 2003. Additionally, it reported the purchase of 23 new offices located in Georgia.
"Strong loan demand contributed to our record revenues and net income in the third fiscal quarter," stated Doug Jones, President and CEO. "Our third quarter is traditionally our busiest for loan demand and we added $51.0 million in gross loans during the quarter. Of this amount, an acquisition completed in early December added $6.5 million to gross loans outstanding. Additionally, we added $7.6 million more in early January with the closing of two more acquisitions."
Net income for the third quarter rose 37.3% to $4.6 million, or $0.23 per diluted share, compared to $3.4 million, or $0.19 per diluted share, for the same quarter of the prior year. Total revenues for the quarter increased 13.5% to $44.3 million from $39.0 million for the prior year quarter.
biz.yahoo.com
Per Yahoo, two analysts expect $1.69 next year and 15% growth next 5 years. PEG: .94 Forward PE: 13.7 ROE: 21.8%
Company: WRLD
Date: 1/20/04
Next year's expected earnings: $1.69
Estimated EPS growth rate: 15
P/E maximum for estimate: 15
Graham Fair Value: $53.54
Current Price: $23.92
$ difference: $29.62
Percent Growth to Fair Value: 123.83% |
