Qc Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017
May 26, 2017
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QC Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net income of $365,000 and revenues of $23.4 million for the quarter ended March 31, 2017. Net income totaled $1.2 million and revenues totaled $31.7 million for the quarter ended March 31, 2016. The decline in revenues during 2017 compared to 2016 was attributable to the third quarter 2016 store swap transaction, whereby the company acquired 33 branches operated in Illinois, Kansas, Missouri and Utah and sold its 98 branches operated in Alabama, Arizona, California, Mississippi and Ohio. Income from continuing operations before income taxes was $506,000 against $1,915,000 a year ago. Diluted net income per share was $0.02 against $0.07 a year ago. Net operating activities was $10,008,000 against $7,041,000 a year ago. Capital expenditures were $838,000 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. 
