QC Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
May 25, 2016 at 07:00 am EDT
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QC Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenues of $34,515,000 against $31,673,000 a year ago. The revenue decline in first quarter 2016 compared to 2015 reflects lower interest and fees from the company’s consumer loan products, indicative of competitive pressures as customers explore alternative loan products and distribution channels. Income from continuing operations before income taxes was $1,763,000 against $1,915,000 a year ago. Net income was $1,087,000 or $0.06 per basic and diluted share against $1,222,000 or $0.07 per basic and diluted share a year ago. net operating activities was $13,650,000 against $7,041,000 a year ago. Capital expenditures were $121,000 against $466,000 a year ago.
QC Holdings, Inc. and its subsidiaries provide consumer loans and other various financial services through its retail branches and online lending operations. The Companyâs consumer loans include installment, single-pay, title and open-end credit loans. The Company also provides other financial products and services, such as credit services, check cashing services, prepaid debit cards, money transfers, money orders and business invoice factoring. It offers invoice factoring and other lending services to small business clients. The Company operates approximately 332 branches with locations in Alabama, Idaho, Kansas, Kentucky, Louisiana, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah and Wisconsin. It also operates through via the Internet in 10 states. In Canada, the Company, through its subsidiary Amaranth Financial Services Inc. is engaged in short-term consumer lending through approximately 20 branches in four provinces and online across the country.
QC HOLDINGS, INC. 
