This excerpt taken from the QCCO 8-K filed May 1, 2008.
- BUSINESS OUTLOOK -
“Robust customer demand continued during the first quarter of 2008,” Early said. “This demand results because our customers fully understand the payday loan transaction, appreciate the transparency of our fee structure and loan terms, and recognize the benefits of a payday loan compared to other short-term financing alternatives.
“Our employees have performed admirably in managing loan losses during these volatile economic and market conditions. Our 16.8% loss ratio during first quarter 2008 was consistent with historical first quarter averages despite ongoing reports about declining consumer confidence and deteriorating credit data.
“During first quarter 2008, we were successful in our efforts to return capital to our stockholders through the repurchase of approximately 1,000,000 of our common shares for $8.5 million. As we balance the various compelling capital allocation opportunities available to the company, we look forward to building on the momentum generated during the last several quarters and to channeling that energy into meaningful stockholder value.”
QC will present its financial results for the three months ended March 31, 2008 in a conference call on May 1, at 2:00 p.m. EDT. Stockholders and other interested parties are invited to listen online at www.qcholdings.com or dial (888) 713-4216, passcode 39877896. The accompanying slides to the presentation will be available on the QC Web site prior to the conference call on May 1. A replay of the audio portion of the presentation will be available online until the close of business on June 1, 2008. The replay can also be accessed by telephone until May 8, 2008, at (888) 286-8010, code 39331508. Interested parties may pre-register for this conference call. Pre-registering is not required, but is recommended as it will provide immediate entry into the call and will facilitate the timely start of the conference. Pre-registration only takes a few moments and may be done anytime, including up to and after the call start time. To pre-register, please access https://www.theconferencingservice.com/prereg/ key.process?key=PK38GBN4L. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.).