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Tampa Bay-Lakeland
Business Observer Thursday, May 5, 2011 9 years ago

Clearwater firm earns $16.8M

Nicholas Financial's annual profits grew 55% in its most recent fiscal year.

CLEARWATER — Nicholas Financial (symbol: NICK) earned $16.8 million in profits in the year that ended Mar. 31, up considerably from its prior-year total of $10.9 million.

Nicholas Financial provides direct-to-consumer loans for major purchases like automobiles. The company operates 56 offices in 14 states, and has grown annual revenues from $56 million to $63 million in the past year.

In January, Nicholas received an unsolicited acquisition offer from an outside buyer, pushing its stock value up roughly 20% in just one day of trading. Late last month, Nicholas declined that offer, but the stock has retained its value: so far this year, Nicholas shares are up 30% in value, to more than $13 a share.

Since May 5, 2010, Nicholas stock is up 44%. Based on its most recent share price, the company is now worth roughly $155 million.

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