Press Release Details

View all Investor News

EZCORP Announces Growth Plans at Roth Capital Conference

Sep 15, 2003

On September 10th, EZCORP, Inc. (NASDAQ: EZPW) outlined growth plans for fiscal 2004 at the Roth Capital Partners Conference in New York City.

EZCORP plans to develop forty-five to sixty-five new EZMONEY Payday Loan stores. Twenty to thirty of these will be standalone payday loan locations, referred to as monoline stores; and the balance will be what the Company refers to as a "store within a store". Both formats will operate as EZMONEY Payday Loan. The "store within a store" is carved out of an existing EZPAWN location with a separate entrance and different decor. The Company also plans to expand the distribution of its payday loan product serviced by its Austin, Texas Call Center with additional yellow page books and advertiser relationships.

Joseph L. Rotunda, President and Chief Executive officer stated, "Although we've been focused on earnings growth and strengthening our balance sheet for the past several years, we have also completed a great deal of consumer research and new product experimentation. From this research and experimentation, we have concluded that the payday loan product offers the best prospects for growth of our Company at this time."

Rotunda added, "We expect to execute our growth plan and achieve our earnings guidance of fifty to fifty-five cents per share. We expect these new stores to have a drag on earnings in fiscal 2004 of ten to fifteen cents with our core stores generating sixty-five cents per share. While these new stores will have a drag on earnings in fiscal 2004, we expect them to contribute to earnings growth in the future."

A webcast of the presentation can be replayed at the following web address:

EZCORP meets the short-term cash needs of the cash and credit constrained consumer by offering convenient, non-recourse loans collateralized by tangible personal property, commonly known as pawn loans, and short-term non- collateralized loans, often referred to as payday loans. The Company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value. Currently, the Company operates 280 pawnshop locations in eleven states, 228 of which also offer payday loans, and two monoline payday loan store.

This announcement contains certain forward-looking statements regarding the Company's expected performance for future periods including, but not limited to, new store openings and expected future earnings. Actual results for these periods may materially differ from these statements. Such forward- looking statements involve risks and uncertainties such as changing market conditions in the overall economy and the industry, consumer demand for the Company's services and merchandise, changes in regulatory environment, and other factors periodically discussed in the Company's annual, quarterly and other reports filed with the Securities and Exchange Commission.

For additional information, contact Dan Tonissen at (512) 314-2289.


CONTACT: Dan Tonissen of EZCORP, Inc., +1-512-314-2289

Web site:

Categories: Press Releases
View all Investor News