First Cash Financial maintains 2008 outlook

By Associated Press
July 22, 2008 | Comments (0)

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Pawnshop operator and payday lender First Cash Financial Services Inc. on Tuesday maintained 2008 profit guidance above Wall Street's estimates.

The company still expects earnings from continuing operations between $1.17 and $1.20 per share, an increase of 17 percent to 20 percent over 2007 results.

On average, analysts anticipate full-year earnings of $1.12 per share, according to a survey by Thomson Financial.

"Our growth plans for the balance of 2008 will remain focused on the core pawn and short-term loan businesses," said Rick Wessel, chief executive. "We target having 550 store locations in operation by year end, of which approximately 265 locations will be in Mexico."

Shares slipped 13 cents to $18.37 in morning trading.

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