Reuters: Global Markets: DFC Global reports quarterly loss on charges, sees weak 2013

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DFC Global reports quarterly loss on charges, sees weak 2013 Aug 22nd 2012, 22:10 Wed Aug 22, 2012 6:10pm EDT (Reuters) - Payday lender and pawnbroker DFC Global Corp (DLLR.O) reported a quarterly loss, mainly due to a goodwill impairment charge, and forecast full-year operating earnings largely below analysts' estimates, sending its shares down 9 percent in extended trade. The company, earlier known as Dollar Financial Corp, expects full-year operating earnings of between $2.35 and $2.55 per share. Analysts on average were expecting earnings of $2.52 per share, according to Thomson Reuters I/B/E/S. DFC Global reported second-quarter net loss of $3.3 million, or 8 cents per share, compared with a profit of $17.5 million, or 39 cents per share, last year. Operating earnings was 58 cents per share. Revenue rose 14 percent to $266.7 million. Analysts on average expected the company to earn 56 cents on revenue of $281.2 million. The company took a goodwill impairment charge of $27.7 million related to its Dealers' Financial Services unit, which provides loans to enlisted military personnel in the U.S. to purchase new and used vehicles. The unit's performance was hurt by higher level of troop deployments in foreign countries and competition from other sub-prime lenders. Shares of the Berwyn, Pennsylvania-based company fell $1.84 to $18.08 in extended trade, after closing at $19.92 on the Nasdaq on Wednesday. (Reporting by Eileen Anupa Soreng in Bangalore; Editing by Supantha Mukherjee) Link this Share this Digg this Email Reprints

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