Nicholas Financial Reports 1st Quarter Fiscal Year 2023 Results

Nicholas Financial, Inc.

  • Originations year-over-year on new Contracts purchased for the three months ended June 30, 2022 increased by 10.1% compared to prior year first quarter.

  • Originations year-over-year on Direct Loans for the three months ended June 30, 2022 increased by 43.2% compared to prior year first quarter.

  • Finance Receivables, net grew by $0.8 million or 0.5% for the three months ended June 30, 2022.

CLEARWATER, Fla., July 29, 2022 (GLOBE NEWSWIRE) — Nicholas Financial, Inc. (NASDAQ: NICK) announced a net loss for the three months ended June 30, 2022 of $1.8 million compared to net income of $1.7 million for the three months ended June 30, 2021. Diluted net loss per share was $0.24 for the three months ended June 30, 2022 as compared to diluted net income per share of $0.22 for the three months ended June 30, 2021. Interest and fee income on finance receivables decreased 4.2% to $12.1 million for the three months ended June 30, 2022 as compared to $12.6 million for the three months ended June 30, 2021. The Company total revenue included an unrealized loss of $0.8 million on equity investments in the three month ended June 30, 2022. The Company reported a loss before income taxes for the three months ended June 30, 2022 of $2.4 million compared to income before income taxes of $2.3 million for the three months ended June 30, 2021. The Company recorded an income tax benefit of approximately $0.6 million during the three months ended June 30, 2022 as compared to…

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