The small-loan consumer finance company reported positive results for the third quarter ended Dec. 31, 2013. Net income for the third quarter increased 11.0 percent to $23.0 million compared to $20.7 million for the same quarter of the prior year. Net income per diluted share increased 25.3 percent to $1.98 in the third quarter of fiscal 2014 compared to $1.58 in the prior year quarter. Total revenues increased to $160.5 million in the third quarter of fiscal 2014, a 7.3 percent increase over the $149.6 million reported in the third quarter last year.
An ongoing $25 million share repurchase program contributed to increased earnings per share. CEO Sandy McLean ascribed positive results to “increased interest and fee income resulting from the state law changes in Texas, Georgia and Indiana, reversals of long-term incentive accruals due to the departure of the Company’s COO during the quarter, as well as a leveling off of the Company’s charge-off ratios.”