Business
EZCORP Reports Fourth Quarter and Full Year Fiscal 2021 Results
Store Count Up 14% and PLO Up 34% for the Year AUSTIN, Texas--(BUSINESS WIRE)-- EZCORP, Inc. (NASDAQ: EZPW), a leading provider of pawn transactions in the
About this update from Ezcorp, Inc.
[{"type":"text","content":"\nStore Count Up 14% and PLO Up 34% for the Year\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nEZCORP, Inc. (NASDAQ: EZPW), a leading provider of pawn transactions in the United States and Latin America, today announced results for its fiscal fourth quarter and full year ended September 30, 2021.\n\nAll amounts in this release are in conformity with U.S. generally accepted accounting principles (\"GAAP\") unless otherwise noted. Comparisons shown in this release are to the same period in the prior year unless otherwise noted.\n\nFOURTH QUARTER HIGHLIGHTS\n\n\nPawn Loans Outstanding (PLO) up 34% and up 12% compared to the third quarter.\n\n\nTotal revenue increased 15% and net revenue increased 33%.\n\n\nMerchandise sales gross profit margin was 41% up from 31%.\n\n\nDiluted earnings per share was $0.03, compared to a diluted loss per share of $0.42. On an adjusted basis1, diluted earnings per share was $0.11, compared to diluted earnings per share of $0.08.\n\n\nReturn on Earning Assets (ROEA) improved to 175% from 154%.\n\n\nCEO COMMENTARY AND OUTLOOK\n\nChief Executive Officer Jason Kulas stated, “I am pleased with our results in the fourth quarter and for the fiscal year, and am proud the team has executed on the strategy we put in place at the end of fiscal 2020. We are improving the customer experience, embracing technological improvements, and have launched our new loyalty program which will be rolled out in the majority of stores by the end of the calendar year. Our key financial metrics continue to improve sequentially due to the initiatives that we have taken throughout the year. We credit our team members who have embraced the renewed emphasis on culture and serving our customers while focusing on innovative ways to improve the core pawn business, grow PLO and increase margins.\n\n“We are seeing strong signs of recovery from the pandemic and stimulus impact in the U.S., with Latin America slightly lagging due to the concerns over the Delta variant.\n\n“The integration of the 139 stores we acquired this year is going well, and our current acquisition pipeline remains robust. In addition, we recently invested in a company that gives us increased geographical diversification by having interests in pawn stores in the Caribbean.\n\n“As we continue to grow our footprint outside of the US, I am delighted to announce the recent promot...