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Nicholas Financial (NICK) is getting slammed in today’s trading. The company just reported a profit of 25 cents a share compared with 27 cents last year. Digging down into the decimals, that’s a decline of 6.5%.

Not surprisingly, the difficult credit environment has been hard on NICK. The company’s provision for credit losses grew by 90% over last year. Still, we’re talking about a portfolio that has a pre-tax yield of nearly 9%.

The shares are currently down 4.3% today, and they’re off more than 33% for the year. I won’t even hazard a guess as to what NICK will make for next year but I don’t see much more risk here. The shares are currently going for about seven times trailing earnings.

Here are some stats on NICK from Seeking Alpha.

Posted by edelfenbein at November 6, 2007 2:29 PM