13

                              
             SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, DC  20549
                          FORM 10-Q
                              
(Mark One)
          [x]QUARTERLY  REPORT PURSUANT  TO  SECTION  13  OR
          15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 1997

                             OR

          [   ]TRANSITION REPORT PURSUANT TO SECTION  13  OR
          15(d)  OF THE SECURITIES EXCHANGE ACT OF 1934  [NO
          FEE REQUIRED]

For   the   transition   period   from   ______________   to
_____________

               Commission File Number 0-19424
               _______________________________
                        EZCORP, INC.
   (Exact name of registrant as specified in its charter)
                              
                Delaware                        74-2540145
     (State or other jurisdiction of          (IRS Employer
     incorporation or organization)        Identification No.)

                    1901 Capital Parkway
                    Austin, Texas  78746
          (Address of principal executive offices)
                         (Zip Code)
                              
                       (512) 314-3400
    (Registrant's telephone number, including area code)
                              
                             NA
    (Former name, former address and former fiscal year,
                if changed since last report)
                              
      Indicate by check mark whether the registrant (1)  has
filed  all  reports required to be filed by  Section  13  or
15(d)  of  the  Securities Exchange Act of 1934  during  the
preceding  12  months (or for such shorter period  that  the
registrant was required to file such reports), and  (2)  has
been  subject to such filing requirements for  the  past  90
days.  Yes X No__

            APPLICABLE ONLY TO CORPORATE ISSUERS:

      The  only class of voting securities of the registrant
issued  and outstanding is the Class B Voting Common  Stock,
par  value  $.01 per share, 100% of which is  owned  by  two
record  holders,  one  of  whom  is  an  affiliate  of   the
registrant.   There is no trading market  for  the  Class  B
Voting Common Stock.

      As  of  December 31, 1997, 10,515,530  shares  of  the
registrant's Class A Non-voting Common Stock, par value $.01
per  share and 1,480,301 shares of the registrant's Class  B
Voting   Common  Stock,  par  value  $.01  per  share   were
outstanding.

                        EZCORP, INC.
                     INDEX TO FORM 10-Q
                               
                                                        Page

PART I.  FINANCIAL INFORMATION

     Item 1. Financial Statements (Unaudited)

       Condensed Consolidated Balance Sheets -
       December 31, 1997 and September 30, 1997            1

       Condensed Consolidated Statements of Operations -
       Three Months Ended December 31, 1997 and 1996       2

       Condensed Consolidated Statements of Cash Flows -
       Three Months Ended December 31, 1997 and 1996       3

       Notes to Interim Condensed Consolidated Financial
       Statements                                          4

       Item 2. Management's Discussion and Analysis
       of Financial Condition and Results of Operations    7

PART II.  OTHER INFORMATION                               11

SIGNATURE                                                 13

                           PART I
Item 1.  Financial Statements (Unaudited)

                EZCORP, Inc. and Subsidiaries
      Condensed Consolidated Balance Sheets (Unaudited)

                                   December 31,   September 30,
                                       1997           1997
                                   ------------   -------------
                                         (In thousands)
                                             
ASSETS:
     Current assets:
       Cash and cash equivalents      $   1,084    $     829
       Pawn loans                        39,109       42,837
       Service charge receivable         11,851       13,130
       Inventory, net                    40,928       39,258
       Deferred tax asset                 1,364        1,889
       Prepaids and other assets          2,619        1,965
                                        -------      -------
          Total current assets           96,955       99,908

     Property and equipment, net         32,577       32,586

     Other assets:
       Deferred tax asset                 1,730        1,730
       Other assets, net                 18,129       16,827
                                        -------      -------
          Total assets                 $149,391     $151,051
                                        =======      =======
LIABILITIES AND STOCKHOLDERS' EQUITY:
     Current liabilities:
       Current maturities of 
         long-term debt                $      9     $      9
       Federal income taxes payable       1,212          819
       Other                              9,133        9,629
                                        -------      -------
          Total current liabilities      10,354       10,457

     Long-term debt, less current 
       maturities                        15,130       19,133
     Other long-term liabilities            187            -

     Stockholders' equity:
       Preferred stock, par value
         $.01 a share - Authorized
         5,000,000 shares; none issued 
         and outstanding                      -            -
       Class A Non-voting Common stock, 
         par value $.01 a share -
         Authorized 40,000,000 shares;  
         10,524,563 shares issued and 
         10,515,530 shares outstanding at
         December 31, 1997 and September 
         30, 1997                           105          105
       Class B Voting Common stock, par 
         value $.01 a share - Authorized 
         1,484,407 shares; 1,480,301 shares
         issued and outstanding at December 
         31, 1997 and September 30, 1997     15           15
       Additional paid-in capital       114,338      114,338
       Retained earnings                 10,026        7,767
                                        -------      -------
                                        124,484      122,225
       Other                               (764)        (764)
                                        -------      -------
          Total stockholders' equity    123,720      121,461
                                        -------      -------
          Total liabilities and 
            stockholders' equity       $149,391     $151,051
                                =======      =======
See Notes to Interim Condensed Consolidated Financial
Statements (unaudited).

                EZCORP, Inc. and Subsidiaries
 Condensed Consolidated Statements of Operations (Unaudited)

                                       Three Months Ended
                                          December 31,
                                     -----------------------
                                       1997           1996
                                     -----------------------
                                      (In thousands, except
                                        per share amounts)
                                             
Revenues:
     Sales                            $ 30,956     $ 27,100
     Pawn service charges               20,988       18,742
                                       -------      -------
       Total revenues                   51,944       45,842

Cost of goods sold                      26,079       22,512
                                       -------      -------
     Net revenues                       25,865       23,330

Operating expenses:
     Operations                         16,689       15,013
     Administrative                      3,355        3,193
     Depreciation and amortization       1,798        1,890
                                       -------      -------
       Total operating expenses         21,842       20,096
                                       -------      -------
Operating income                         4,023        3,234

Interest expense                           380          291
                                       -------      -------
Income before income taxes               3,643        2,943

Income tax expense                       1,384        1,040
                                       -------      -------
Net income                            $  2,259     $  1,903
                                       =======      =======
Basic and diluted earnings per share  $   0.19     $   0.16
                                       =======      =======
Weighted average shares outstanding
Basic                               11,995,831   11,992,728
                                    ==========   ==========
Diluted                             12,011,698   11,996,612
                                    ==========   ==========

See Notes to Interim Condensed Consolidated Financial 
Statements (unaudited).

               EZCORP, Inc. and Subsidiaries
    Condensed Consolidated Statements of Cash Flows (Unaudited)

                                     Three Months Ended
                                                  December 31,
                                           -----------------------   
                                              1997          1996
                                           -----------------------
                                                (In thousands)
                                                   
OPERATING ACTIVITIES:
     Net income                            $  2,259      $  1,903
     Adjustments to reconcile net 
       income to net cash provided by
       operating activities:
       Depreciation and amortization          1,798         1,890
       Deferred income taxes                    526          (394)
       Gain on sale of assets                  (109)            -
       Changes in operating assets and 
         liabilities:
          (Increase)/decrease in service 
            charge receivable                 1,402          (431)
          (Increase)/decrease in 
            inventories                      (1,503)        1,161
          (Increase)/decrease in prepaid 
            expenses and other assets          (757)          587
          Decrease in accounts payable 
            and accrued expenses               (650)         (600)
          Increase/(decrease) in customer 
            layaway deposits                    145            (2)
          Increase in other long term 
            liabilities                         187             -
          Increase in income taxes payable      391           620
                                            -------       -------
       Net cash provided by operating 
         activities                           3,689         4,734

INVESTING ACTIVITIES:
     Pawn loans forfeited and transferred 
       to inventories                        17,358        12,593
     Pawn loans made                        (40,986)      (39,674)
     Pawn loans repaid                       27,770        25,942
                                            -------       -------
          Net (increase)/decrease in loans    4,142        (1,139)

     Additions to property, plant, and 
       equipment                             (1,672)       (1,181)
     Acquisitions, net of cash acquired      (2,104)            -
     Sale of assets                             203             -
                                            -------       -------
       Net cash provided by/(used in) 
         investing activities                   569        (2,320)

FINANCING ACTIVITIES:
     Proceeds from bank borrowings            2,000         1,000
     Payments on borrowings                  (6,003)       (2,040)
                                            -------        -------
       Net cash used by financing activities (4,003)       (1,040)
                                            -------        -------
Increase in cash and cash equivalents           255         1,374

Cash and cash equivalents at 
beginning of period                             829         1,419
                                            -------       -------
     Cash and cash equivalents at 
     end of period                         $  1,084      $  2,793
                                            =======       =======
NONCASH INVESTING AND FINANCING ACTIVITIES:
   Issuance of common stock to 401(k) Plan $      -      $     37
                                            =======       =======

See Notes to Interim Condensed Consolidated Financial
Statements (unaudited).

             EZCORP, Inc. and Subsidiaries
Notes to Interim Condensed Consolidated Financial Statements 
                      (Unaudited)
                  December 31, 1997

Note  A  -  Basis of Presentation

                             The   accompanying    unaudited
condensed   consolidated  financial  statements  have   been
prepared  in  accordance with generally accepted  accounting
principles  for interim financial information and  with  the
instructions to Form 10-Q and Article 10 of Regulation  S-X.
Accordingly, they do not include all of the information  and
footnotes   required   by  generally   accepted   accounting
principles  for  complete  financial  statements.   In   the
opinion of management, all adjustments (consisting of normal
recurring   entries)  considered  necessary   for   a   fair
presentation have been included.  The accompanying financial
statements  should  be read with the Notes  to  Consolidated
Financial Statements included in the Company's Annual Report
on Form 10-K for the year ended September 30, 1997.

       The   Company's  business  is  subject  to   seasonal
variations, and operating results for the three-month period
ended  December 31, 1997 are not necessarily  indicative  of
the results of operations for the full fiscal year.

Note B - Accounting Principles and Practices

      The  provision  for  federal  income  taxes  has  been
calculated based on the Company's estimate of its  effective
tax rate for the full fiscal year.

      The  Company provides inventory reserves for shrinkage
and  cost  in excess of market value. The Company  estimates
these  reserves  using analysis of sales  trends,  inventory
aging,  sales  margins and shrinkage on  inventory.   As  of
December 31, 1997, inventory reserves were $6.7 million.

Note C - Statement of Cash Flows

      The  amounts  for December 31, 1996 in  the  investing
section  for  pawn loans made, pawn loans  repaid  and  pawn
loans  forfeited  and transferred to inventories  have  been
reclassified.  The net increase/(decrease) in loans and  the
net  cash  provided  by/(used in) investing  activities  are
unchanged.

Note D - Earnings Per Share

      In  1997,  the  Financial Accounting  Standards  Board
issued Statement of Financial Accounting Standards No.  128,
Earnings  Per Share.  Statement 128 replaces the  previously
reported  primary and fully diluted earnings per share  with
basic  and  diluted  earnings  per  share.   Unlike  primary
earnings  per  share, basic earnings per share excludes  any
dilutive   effects  of  options,  warrants  and  convertible
securities.  Diluted earnings per share is very  similar  to
the  previously reported fully diluted earnings  per  share.
All  earnings  per share amounts for all periods  have  been
presented, and where necessary, restated to conform  to  the
Statement 128 requirements.

           EZCORP, Inc. and Subsidiaries
Notes to Interim Condensed Consolidated Financial Statements 
                    (Unaudited)
                 December 31, 1997

The following table sets forth the computation of basic and
diluted earnings per share:

                                Three Months Ended
                                            December 31,
                                        --------------------
                                           1997        1996
                                        --------------------
                                            (In thousands)
                                              
     Numerator
        Numerator for basic and 
        diluted earnings per share -
        net income                      $  2,259    $  1,903
                                         =======     =======
     Denominator
        Denominator for basic earnings 
        per share - weighted average 
        shares                            11,996      11,993

       Effect of dilutive securities:
          Employee stock options               4           -
          Warrants                            12           4
                                         -------     -------
       Dilutive potential common shares       16           4
                                         -------     -------
       Denominator for diluted earnings 
       per share - adjusted weighted 
       average shares and assumed 
       conversions                        12,012      11,997
                                         =======     =======
       Basic earnings per share         $   0.19    $   0.16
                                         =======     =======
       Diluted earnings per share       $   0.19    $   0.16
                                 =======     =======
      Options to purchase 567,476 weighted average shares of
common  stock at an average price of $13.53 per  share  were
outstanding  at December 31, 1997, but were not included  in
the  computation of diluted earnings per share  because  the
options' exercise price was greater than the average  market
price  of the common shares and, therefore, the effect would
be anti-dilutive.

Note E - Litigation

      The  Company  is  involved in litigation  relating  to
claims  that  arise from time to time from  normal  business
operations.   Currently,  the  Company  is  a  defendant  in
several lawsuits.  Some of these lawsuits involve claims for
substantial  amounts.  While the ultimate outcome  of  these
lawsuits involving the Company cannot be ascertained,  after
consultation  with counsel, it is management's opinion  that
the  resolution  of  these suits will not  have  a  material
adverse  effect  on  the  Company's financial  condition  or
results  of operations.  However, there can be no  assurance
as to the ultimate outcome of these matters.

      On  February 4, 1998, the Company and its founder  and
former  President and Chief Executive Officer, Courtland  L.
Logue, Jr. reached an out of court settlement to the lawsuit
styled EZCORP, Inc. v. Courtland L. Logue, Jr., in the 201st
District Court of Travis County, Texas.  Under the terms  of
the  settlement,  both the Company and  Mr.  Logue  released
their  claims against each other, including all claims under
Mr. Logue's employment agreement, and neither party admitted
any liability nor paid any cash consideration to the other.

      The  Company  agreed  to  accelerate  the  release  of
contractual  restrictions on the  transfer  of  Mr.  Logue's
967,742  shares  of common stock, which converts,  as  of  a
closing  scheduled  on  or  before  February  18,  1998,  to
publicly  traded  Class  A  Non-Voting  Common  Stock.    In
exchange,  Mr. Logue agreed to assign 10,000 shares  of  his
stock to the Company.

           EZCORP, Inc. and Subsidiaries
Notes to Interim Condensed Consolidated Financial Statements 
                    (Unaudited)
                 December 31, 1997
                              
     The settlement releases 191,548 shares immediately, and
a  like  amount  on October 29, 1998.  An additional  95,774
shares will be released from restrictions on each of October
29, 1999 and October 29, 2000, with the remaining 40% of the
shares   to   be  released  in  July,  2001,  as  originally
scheduled.   The  Company and Mr. Logue also  clarified  the
scope  of  Mr. Logue's continuing non-competition agreement,
negotiated  a five year limitation on Mr. Logue's  financial
investments in competing pawnshop businesses and  negotiated
renewal options with respect to certain existing real estate
leases for store locations.

      The Company is also the nominal defendant in a lawsuit
filed  July 18, 1997 by a holder of thirty-nine (39)  shares
of  Company  stock  styled for the benefit  of  the  Company
against  certain  directors of the  Company  in  the  Castle
County Court of Chancery in the State of Delaware.  The suit
alleges  the defendants breached their fiduciary  duties  to
the   Company  in  approving  certain  management  incentive
compensation  arrangements  and  an  affiliate's   financial
advisory services contract with the Company.  The suit seeks
recision of the subject agreements, unspecified damages  and
expenses,   including   plaintiff's   legal   fees.      The
defendants  have filed a motion to dismiss which is  pending
before the court.

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations

First  Quarter  Ended December 31, 1997  vs.  First  Quarter
Ended December 31, 1996

      The discussion in this section of this report contains
forward-looking   statements   that   involve   risks    and
uncertainties.   The Company's actual results  could  differ
materially from those discussed herein.  Factors that  could
cause or contribute to such differences include, but are not
limited  to,  those  discussed in  this  section  and  those
discussed elsewhere in this report.

      The  following  table sets forth selected,  unaudited,
consolidated financial data with respect to the Company  for
the three months ended December 31, 1997 and 1996.

                        Three Months Ended      % or
                       December 31, (a)      Point
                              1997           1996    Change(b)
                              --------------------   ---------
                                            
Net Revenues:
     Sales                   $ 30,956    $ 27,100        14.2%
     Pawn service charges      20,988      18,742        12.0%
                              -------     -------
       Total revenues          51,944      45,842        13.3%
     Cost of goods sold        26,079      22,512        15.8%
                              -------     -------            
       Net revenues          $ 25,865    $ 23,330        10.9%
Other Data:                   =======     =======      
     Gross profit as a 
     percent of sales           15.8%        16.9%   (1.1) pts.
     Average annual inventory 
     turnover                    2.5x         2.5x         0.0x
     Average inventory balance 
     per location as of the
     end of the quarter          $164         $140        17.1%
     Average loan balance per 
     location as of the end
     of the quarter              $156         $144         8.3%
     Average yield on loan 
     portfolio                   204%         213%   (9.0) pts.
     Redemption rate              76%          79%   (3.0) pts.
Expenses as a Percent of Total Revenues:
     Operating                  32.1%        32.7%   (0.6) pts.
     Administrative              6.5%         7.0%   (0.5) pts.
     Depreciation and 
     amortization                3.5%         4.1%   (0.6) pts.
     Interest, net               0.7%         0.6%      0.1 pt.
Locations in Operation:
     Beginning of period          249          246
     Acquired                       1            0
     Established                    1            2
     Sold, combined or closed      (1)           0
                                -----        -----
     End of period                250          248
Average locations in operation  =====        =====
during the period(c)            249.5        247.0
                        =====        =====
- ------------------------------------------
a    In  thousands,  except percentages, inventory  turnover
     and store count.
b    In  comparing  the  period differences  between  dollar
     amounts  or store counts, a percentage change is  used.
     In   comparing  the  period  differences  between   two
     percentages, a percentage point (pt.) change is used.
c    Average  locations in operation during  the  period  is
     calculated  based  on  the  average  of  the  locations
     operating at the beginning and end of such period.

Results of Operations

     The following discussion compares results for the three-
month  period ended December 31, 1997 ("Fiscal 1998 Period")
to  the  three month period ended December 31, 1996 ("Fiscal
1997 Period").  The discussion should be read in conjunction
with  the  accompanying  financial  statements  and  related
notes.

      During the Fiscal 1998 Period, the Company opened  one
(1)  newly  established store, acquired one  (1)  store  and
closed  one (1) store.  During the twelve (12) months  ended
December  31,  1997,  the  Company  opened  four  (4)  newly
establish  stores, acquired one (1) store and  closed  three
(3)  stores.   The  store closings  were  a  result  of  the
Company's  ongoing  review  of  its  store  portfolio.    At
December  31,  1997,  the  Company operated  250  stores  in
thirteen (13) states.

      The Company's primary activity is the making of small,
non-recourse  loans  secured by tangible personal  property.
The  income  earned on this activity is pawn service  charge
revenue.   For  the Fiscal 1998 Period, pawn service  charge
revenue  increased $2.2 million from the Fiscal 1997  Period
to  $21.0 million.  This resulted from an increase  in  same
store  pawn  service charge revenue ($2.0 million)  and  the
pawn  service  charge revenue from new stores not  open  the
full  three-month period ($0.2 million).   At  December  31,
1997, same store pawn loan balances were seven percent above
December 31, 1996.  The annualized yield on the average pawn
loan  balance  decreased  nine percentage  points  from  the
Fiscal 1997 Period to 204%.  This decrease was primarily due
to  a  shift in pawn loan balances to states with lower pawn
service  charge  rates  when compared  to  the  Fiscal  1997
Period.

      A  secondary, but related, activity of the Company  is
the sale of merchandise, primarily collateral forfeited from
its  lending  activity.  For the Fiscal 1998  Period,  sales
increased  approximately $3.9 million from the  Fiscal  1997
Period  to approximately $31.0 million.  This resulted  from
an  increase in same store merchandise sales ($3.4 million),
new store sales ($0.5 million), and scrapping activity ($0.1
million),  partially  offset by  closed  store  sales  ($0.1
million).   Same  store  sales for the  Fiscal  1998  Period
increased 13 percent from the Fiscal 1997 Period.  Inventory
levels  per store were 17% higher than the prior period  due
to  higher average loan balances during the preceding months
in  the  Fiscal 1998 Period (approximately $164,000  in  the
Fiscal  1998  Period as compared to $140,000 in  the  Fiscal
1997  Period).   Inventory  turnover,  at  2.5  times,   was
unchanged  in the Fiscal 1998 Period compared to the  Fiscal
1997 Period.

      The  Company's gross margin level (gross profit  as  a
percentage  of merchandise sales) results from, among  other
factors,  the composition, quality and age of its inventory.
At  December 31, 1997, and 1996, respectively, the Company's
inventories  consisted of approximately 64  and  65  percent
jewelry  (e.g.  ladies' and men's rings, chains,  bracelets,
etc.)  and  36  and  35 percent general  merchandise  (e.g.,
televisions,   VCRs,   tools,   sporting   goods,    musical
instruments,  firearms, etc.).  At  December  31,  1997  and
1996, respectively, 88% and 76% of the jewelry was less than
twelve months old based on the Company's date of acquisition
(date  of forfeiture for collateral or date of purchase)  as
was  approximately  96% and 87% of the  general  merchandise
inventory for each period.

      For  the  Fiscal  1998  Period,  gross  profits  as  a
percentage  of  merchandise sales decreased  1.1  percentage
points  from  the Fiscal 1997 Period to 15.8 percent.   This
decrease  results from lower gross profit on  wholesale  and
scrap jewelry sales (1.0 percentage point) and lower margins
on  merchandise  sales (0.2 percentage point)  offset  by  a
reduction  in  inventory  shrinkage  when  measured   as   a
percentage of  merchandise sales (down 0.1 percentage  point
to approximately 1.2 percentage points).

      In  the  Fiscal 1998 Period, operating expenses  as  a
percentage of total revenues decreased 0.6 percentage  point
from  the  Fiscal  1997  Period  to  32.1%.   Administrative
expenses  decreased 0.5 percentage point in the Fiscal  1998
Period  to  6.5%.   These decreases result from  the  higher
level  of revenues relative to these expenses in the  Fiscal
1998 Period.

      The  Company, like many companies, faces the Year 2000
Issue.   This is a result of computer programs being written
using  two  digits rather than four (for example,  "97"  for
1997)  to  define the applicable year.  Any of the Company's
programs  that have time-sensitive software may recognize  a
date  using "00" as the year 1900 rather than the year 2000.
In  some  cases, the new date will cause computers  to  stop
operating,  while  in  other  cases,  incorrect  output  may
result.   Since the Company is currently in the  process  of
replacing  and upgrading its computer hardware and  software
systems,  the Company believes that there is little business
risk attributable to the Year 2000 issue.

Liquidity and Capital Resources

      Net  cash  provided  by operating activities  for  the
Fiscal  1998  Period was $3.7 million as  compared  to  $4.7
million  provided  in  the  Fiscal  1997  Period.   Improved
operating  results and lower pawn service charge  receivable
offset  by increases in inventory and prepaid expenses  were
the  main factors for the reduced cash provided by operating
activities.   Net cash provided by investing activities  was
$0.6  million  for the Fiscal 1998 Period compared  to  $2.3
million used in the Fiscal 1997 period.  The change  is  due
to  decreases in pawn loan balances offset by higher  levels
of capital expenditures and acquisitions for the Fiscal 1998
Period.

      In  the  Fiscal  1998  Period,  the  Company  invested
approximately $3.6 million to open one (1) newly established
store,  to  acquire  one (1) store, to  upgrade  or  replace
existing   equipment   and   computer   systems,   and   for
improvements  at existing stores.  The Company funded  these
expenditures  largely from cash flow provided  by  operating
activities.   The  Company plans to  open  approximately  50
stores  during fiscal 1998, including the two stores already
opened.   The  Company  anticipates  that  cash  flow   from
operations and funds available under its existing bank  line
of   credit  should  be  adequate  to  fund  these   capital
expenditures and expected pawn loan growth during the coming
year.   There  can  be  no  assurance,  however,  that   the
Company's cash flow and line of credit will provide adequate
funds for these capital expenditures.

       The   Company's  current  revolving  line  of  credit
agreement was amended on May 9, 1997 and matures January 30,
2000.  That agreement requires, among other things, that the
Company meet certain financial covenants.  Borrowings  under
the  line  are  unsecured and bear interest  at  the  bank's
Eurodollar  rate  plus 0.75% to 1.5%. The amount  which  the
Company can borrow is based on a percentage of its inventory
levels  and  outstanding  pawn loan  balance,  up  to  $50.0
million.    At   December   31,  1997,   the   Company   had
approximately $15 million outstanding on the credit facility
and  additional  borrowing  capacity  of  approximately  $31
million.

Seasonality

      Historically, pawn service charge revenues are highest
in  the  fourth fiscal quarter (July, August and  September)
due  to  higher  loan demand during the  summer  months  and
merchandise sales are highest in the first and second fiscal
quarters  (October through March) due to the holiday  season
and tax refunds.

Forward-Looking Information

      This  Quarterly Report on Form 10-Q includes "forward-
looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E  of  the
Securities Exchange Act of 1934, as amended.  All statements
other  than  statement  of historical  information  provided
herein are forward-looking and may contain information about
financial  results, economic conditions,  trends  and  known
uncertainties.  The Company cautions the reader that  actual
results could differ materially from those expected  by  the
Company   depending  on  the  outcome  of  certain  factors,
including  without  limitation  (i)  fluctuations   in   the
Company's  inventory and loan balances, inventory  turnover,
average yield on loan

portfolio,  redemption rates, labor and employment  matters,
competition, operating risk, acquisition and expansion risk,
liquidity  and  capital  requirements  and  the  effect   of
government and environmental
regulations and (ii) adverse changes in the market  for  the
Company's  services.   Readers are cautioned  not  to  place
undue  reliance  on these forward-looking statements,  which
speak only as of the date hereof.  The Company undertakes no
obligations to release publicly the results of any revisions
to  these  forward-looking statements which may be  made  to
reflect  events  or  circumstances after  the  date  hereon,
including  without  limitation,  changes  in  the  Company's
business  strategy  or planned capital expenditures,  or  to
reflect the occurrence of unanticipated events.

                           PART II
Item 1.  Legal Proceedings

      On  February 4, 1998, the Company and its founder  and
former  President and Chief Executive Officer, Courtland  L.
Logue, Jr. reached an out of court settlement to the lawsuit
styled EZCORP, Inc. v. Courtland L. Logue, Jr., in the 201st
District Court of Travis County, Texas.  Under the terms  of
the  settlement,  both the Company and  Mr.  Logue  released
their  claims against each other, including all claims under
Mr. Logue's employment agreement, and neither party admitted
any liability nor paid any cash consideration to the other.

      The  Company  agreed  to  accelerate  the  release  of
contractual  restrictions on the  transfer  of  Mr.  Logue's
967,742  shares  of common stock, which converts,  as  of  a
closing  scheduled  on  or  before  February  18,  1998,  to
publicly  traded  Class  A  Non-Voting  Common  Stock.    In
exchange,  Mr. Logue agreed to assign 10,000 shares  of  his
stock to the Company.

     The settlement releases 191,548 shares immediately, and
a  like  amount  on October 29, 1998.  An additional  95,774
shares will be released from restrictions on each of October
29, 1999 and October 29, 2000, with the remaining 40% of the
shares   to   be  released  in  July,  2001,  as  originally
scheduled.   The  Company and Mr. Logue also  clarified  the
scope  of  Mr. Logue's continuing non-competition agreement,
negotiated  a five year limitation on Mr. Logue's  financial
investments in competing pawnshop businesses and  negotiated
renewal options with respect to certain existing real estate
leases for store locations.

      The Company is also the nominal defendant in a lawsuit
filed  July 18, 1997 by a holder of thirty-nine (39)  shares
of  Company  stock  styled for the benefit  of  the  Company
against  certain  directors of the  Company  in  the  Castle
County Court of Chancery in the State of Delaware.  The suit
alleges  the defendants breached their fiduciary  duties  to
the   Company  in  approving  certain  management  incentive
compensation  arrangements  and  an  affiliate's   financial
advisory services contract with the Company.  The suit seeks
recision of the subject agreements, unspecified damages  and
expenses,   including   plaintiff's   legal   fees.      The
defendants  have filed a motion to dismiss which is  pending
before the court.

Item 2.  Changes in Securities

         Not Applicable

Item 3.  Defaults Upon Senior Securities

         Not Applicable

Item 4.  Submission of Matters to a Vote of Security Holders

         Not Applicable

Item 5.  Other Information

         Not Applicable

Item 6.  Exhibits and Reports on Form 8-K

       (a)  Exhibit                               Incorporated by
            Number            Description           Reference to
            -------      ----------------------   -----------------
            Exhibit 27   Financial Data Schedule  Filed herewith
      
       (b)  Reports on Form 8-K
            The Company has not filed any reports on Form 8-K for 
            the quarter ended December 31, 1997.

                          SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act  of 
1934, the registrant has duly caused this report to be signed on its 
behalf by the undersigned thereunto duly authorized.

                                           EZCORP, INC.
                              ------------------------------------
                                           (Registrant)

Date: February 12, 1998       By:     /s/ DAN N. TONISSEN
                              ------------------------------------
                                           (Signature)

                              Dan N. Tonissen
                              Senior Vice President and
                              Chief Financial Officer

  

 5
 1000

                   3-MOS
                          SEP-30-1998
                               DEC-31-1997
                                           1,084
                                         0
                                   50,960
                                         0
                                     40,928
                                96,955
                                          56,908
                                  24,331
                                 149,391
                           10,354
                                              0
                                0
                                          0
                                           120
                                     123,600
                   149,391
                                         30,956
                                51,944
                                           26,079
                                   47,921
                                     0
                                     0
                                 380
                                  3,643
                                     1,384
                              2,259
                                       0
                                      0
                                            0
                                     2,259
                                     0.19
                                     0.19