First Cash Financial Services Beats Earnings Estimates (FCFS)

Arlington, Texas-based First Cash Financial Services, Inc. FCFS released financial results on Wednesday morning that beat Wall Street earnings estimates. First Cash Financial Services, Inc announced that its 4th quarter net income rose to $19.6 million, or 62 cents per share, up from $15.0 million, or 49 cents per share, a year earlier. Excluding special items, the company reported earnings from continuing operations of 59 cents per share. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 54 cents per share. Chief Executive Officer Rick Wessel said, "We are extremely pleased to announce another year of record-setting operating results. We grew top line revenue by 19% and expanded both gross and operating profit margins, all of which propelled the net income growth of 32%. Importantly, our fourth quarter results were especially strong, which provides significant momentum as we enter 2011." First Cash Financial Services, Inc. (FCFS) finished the previous trading day at $29.74 per share. The consensus price target of analysts covering the company's stock is $34.50 per share. Read more from Benzinga's Company news.