Dollar Financial Soaring 14% On Earnings

Dollar Financial Corp. DLLR shares are soaring today, gaining more than 14% after the company reported better than expected earnings. The company changed its name from Dollar Financial Corp. to DFC Global Corp. on Wednesday and reported much better than expected earnings yesterday. The comapny reported fourth quarter earnings of 40 cents per share on $233.9 million in revenues. Excluding one time items, DFC Global reported earnings of 46 cents per share. Wall Street had been expecting earnings of 41 cents per share on $220.9 million in revenues. Jeff Weiss, the Company's Chairman and Chief Executive Officer, stated, “I am pleased to announce another year of record performance by our Company. Total consolidated revenue for the fiscal year increased by 24.5% to a record $788.4 million, while total adjusted EBITDA increased by 26.3% to a record $230.2 million. Over the past five years, total revenue and adjusted EBITDA have grown at a compound annual rate of 17.0% and 22.4%, respectively, despite the great recession. This consistently strong performance is a testament to our business diversification strategy, the growing ALICE (asset-limited, income-constrained, employed) customer demographic we serve, and also the successful investments we have made in our de novo store expansion and global acquisition strategies. At last check, shares were up $2.65 to $21.75 in mid Friday trading.