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$5+ stock crushes estimate reports .32 vs. .18 (Best qtr in company History)

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February 18, 2010 – Comments (0) | RELATED TICKERS: AEA.DL

Highlights of the Year and Quarter ended December 31, 2009:

Diluted earnings per share for the year increased to $0.88, which represents a 46.7% increase over the prior year
Diluted earnings per share for the quarter increased to $0.32, which represents a 220% increase over the same period in 2008
Center gross profit for the quarter increased $11.3 million to $49.8 million, which represents a 29.2% increase over the same period for the prior year
The provision for doubtful accounts for the quarter decreased to 18.3% of revenue compared to 24.4% in the same period in the prior year

 

Commenting on the results of the fourth quarter of 2009, Advance America's President and Chief Executive Officer, Ken Compton, said, "Advance America's solid performance during the fourth quarter is the result of continued demand for the simple, reliable, transparent and cost-competitive financial services that we offer to consumers, coupled with a concentrated effort to reduce costs and improve our bottom-line performance. In 2009, we remained focused on offering high-quality customer service and short-term loan products that help meet the varying needs of American consumers. In fact, thanks to the efforts of a strong management team and thousands of dedicated employees,

"Advance America was able to produce the highest quarterly and yearly earnings per share since becoming a public company."

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