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Nicholas Financial, Inc. (NASDAQ: NICK) reported a 399.6% year-over-year increase in income before income taxes for Q4 2021, totaling $2.8 million compared to $0.6 million the previous year. However, total revenue decreased by 10.8% to $13.3 million. The company achieved a net portfolio yield of 24.22%, up from 17.10% year-over-year. Delinquent accounts dropped to 1.9% from 2.9%. Net income for the year reached $8.4 million, with diluted EPS at $1.09, despite a 9.8% revenue decline.
Nicholas Financial, Inc. (NASDAQ: NICK) announced the grand opening of a new branch in the Salt Lake City area on March 10, 2021. Located at 2273 West 7800 South, West Jordan, UT, the opening celebration will occur from 4:00 pm to 5:30 pm. CEO Doug Marohn expressed enthusiasm for entering this market, emphasizing the area's robust economy and the company's commitment to expansion. Nicholas Financial is also licensed to operate in Arizona, New Mexico, and Texas, furthering its growth across the U.S.
Nicholas Financial, Inc. (NASDAQ: NICK) reported a significant year-over-year increase in net income for the three months ended December 31, 2020, rising to $3.8 million from $0.3 million. Diluted EPS increased to $0.49 from $0.04. The company’s pre-tax yield improved to 7.63%, while net portfolio yield jumped to 23.0%. Despite a 3.3% decline in total revenue to $14.5 million, the company achieved robust performance metrics, including a decrease in accounts 60+ days delinquent to 3.9%. For the nine months ending December 31, 2020, net income also rose significantly to $6.5 million, up from $1.2 million.
Nicholas Financial, Inc. (NASDAQ: NICK) has announced the grand opening of its new branch office in Milwaukee, Wisconsin, on January 26, 2021. This marks the third expansion branch opened within three months, highlighting the company's growth strategy for 2021. Doug Marohn, president and CEO, emphasized the commitment to increasing market share and expanding product offerings. The company is also building a new office in Salt Lake City, Utah, and has gained licenses to operate in Arizona, New Mexico, and Texas.
Nicholas Financial, Inc. (NASDAQ: NICK) announces the grand opening of a new branch in Columbia, South Carolina on December 16, 2020. The event, featuring a ribbon cutting at 11:30 AM, highlights the company's renewed focus on expansion. CEO Doug Marohn emphasized the significance of South Carolina to the company's success. Nicholas Financial is also expanding with new offices in Salt Lake City and Milwaukee, and has obtained licenses in Arizona, New Mexico, and Texas.
Nicholas Financial, Inc. (NASDAQ: NICK) has announced the grand opening of its new branch office in Las Vegas, NV, on November 18, 2020. The celebration will begin with a ribbon-cutting ceremony at 3:30 pm, continuing until 7:30 pm. CEO Doug Marohn emphasized the importance of this expansion as part of the company's growth strategy for Fiscal Year 2021. In addition to Las Vegas, Nicholas Financial is also expanding in Salt Lake City, Milwaukee, and Columbia, and has obtained licenses in Arizona, New Mexico, and Texas.
Nicholas Financial reported net income of $1.3 million for Q2 2020, up from $0.3 million Y/Y, with a diluted EPS of $0.16, compared to $0.03. Revenue fell 9.8% to $14.1 million. Income before taxes increased to $1.4 million from $0.4 million. The firm saw a significant rise in pre-tax yield from 0.6% to 2.6%, and net portfolio yield rose to 18.6% from 16.0%. Delinquency rates improved, dropping to 2.9%. Although originations of new contracts fell by 13.9%, direct loans increased by 28.2%. The company plans expansion into new markets, including Las Vegas and Texas.
Nicholas Financial (NICK) reported a net income of $1.4 million for Q2 2020, up from $0.6 million year-over-year. The diluted earnings per share rose to $0.18 from $0.07. However, revenue declined by 15% to $14.2 million. The pre-tax yield increased to 3.5%, with income before income taxes at $1.9 million. While new loan originations decreased by 11.9%, direct loans increased by 18%. Delinquent accounts dropped to 2.5%, and the company added $3 million to reserves amid COVID-19 uncertainties. An annual meeting is scheduled for August 27, 2020.
Nicholas Financial (NASDAQ: NICK) appointed Irina Nashtatik as Chief Financial Officer, effective July 7, 2020. Having previously served as Interim CFO since November 2019, Nashtatik brings over two years of experience with the company, alongside a background in finance from Bankers Financial Corporate and USAmeriBank. The company also extended CEO Doug Marohn's employment agreement through June 30, 2022. Both agreements' material terms are detailed in Nicholas Financial's Form 8-K filings.
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