ALBERTA

Cash Store delays Q4 earnings until next week; will restate Q2, Q3 results

12/20/2012 08:03 EST | Updated 02/19/2013 05:12 EST
EDMONTON - The Cash Store Financial Services Inc. (TSX:CSF) has cancelled Thursday's planned conference call with analysts while it prepares restated interim financial statements for the periods ended March 31 and June 30.

The lender for consumers unable to obtain credit from traditional sources, says it hopes to present the revised statements, along with consolidated financial statements for the three and 12 months ended Sept. 30, by the end of next week.

A new date for the analyst call is to be announced separately, the company said.

Meanwhile, Cash Store issued preliminary guidance for the three months ended Sept. 30, saying revenue is expected to have been in the range of $50 million to $50.8 million.

Loan volumes were $207 million, while adjusted EBITDA is estimated in the range of $10.5 million to $11.2 million.

EBITDA, or earnings before interest, taxes, depreciation and amortization, is a non-standard accounting term that many companies believe provides a better picture of operations than simple statements of profit and loss.

Cash Store Financial is a lender and broker of short-term advances and other financial services to income-earning consumers who may not be able to obtain them from traditional banks.

With headquarters in Edmonton, Cash Store operates 512 branches across Canada under the banners Cash Store Financial, Instaloans and The Title Store, along with 25 branches in the United Kingdom. It employs some 2,000 people.

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