In fiscal
2008, we plan to open approximately 100 EZMONEY locations and
seven to ten Mexico pawnshop locations.
Joe Rotunda, CEO, EZCORP
EZCORP President and Chief Executive Officer Joe Rotunda said Q3
was a busy one for the company. "In June, we completed the
largest acquisition in our history with the acquisition of the
15 Jumping Jack Cash pawnshop locations in Colorado. In August,
we entered into an agreement for our most strategic acquisition
in our history, the acquisition of the 20 Mister Money pawnshop
locations in Mexico. On October 22nd, we closed on that
acquisition and we now operate 24 pawnshops in Mexico. During
the year we continued the expansion of our EZMONEY locations
adding a net 99 stores and expanded into four new states."
The company saw strong performance in its signature loan
business in Q3. "Our signature loan contribution, or fees less
bad debt, increased approximately 30% from the prior year
quarter. Our bad debt, measured as a percent of fees of 31% was
up approximately five percentage points from the prior year
quarter but improved roughly seven percentage points from the
June quarter."
Rotunda concluded, "In fiscal 2008, we plan to open
approximately 100 EZMONEY locations and seven to ten Mexico
pawnshop locations."
EZCORP operates 434 EZMONEY locations and 75 EZPAWN locations.
