Nicholas Financial’s Earnings

For the second quarter, Nicholas Financial (NICK) earned 15 cents a share. Since the stock is basically priced for Armageddon, I think this is good news.
Revenue increased by 8% and EPS dropped from 27 cents to 15 cents. The major culprit isn’t hard to spot. The provision for credit losses nearly tripled from last year. Without that, pre-tax profit actually grew by about 4% over last year. The stock is now trading at less than 35 times this quarter’s earnings.

Posted by on July 31st, 2008 at 11:35 am

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