Cash America Down 8% After Company Cuts Guidance
Cash America (NYSE: CSH) shares are down nearly 8% after the company cut its 2011 EPS guidance.
The company announced that it anticipates earnings per share for the fiscal year ended December 31, 2011 will be approximately $4.25 per share, up 16% compared to the fiscal 2010 earnings per share of $3.67. The Company's estimated results for its full year 2011 earnings per share is below its July 21, 2011 published expected range of between $4.28 and $4.48 per share.
The Company's outlook for earnings expectations has not been updated since July 2011 due to the filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission by the Company's wholly-owned subsidiary that comprises its E-commerce segment, Enova International, Inc., on September 15, 2011 in connection with a proposed initial public offering of Enova common stock by the Company and Enova. The Registration Statement has not yet become effective.
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