Cash America International 8-K Cash America Announces Fourth Quarter and Fiscal Year-End Earnings and Declares Dividend

Exhibit 99.1

Cash America Announces Fourth Quarter and Fiscal Year-End Earnings and Declares Dividend

FORT WORTH, Texas--(BUSINESS WIRE)--January 26, 2012--Cash America International, Inc. (NYSE: CSH) reported today that its fourth quarter ended December 31, 2011 net income attributable to the Company increased to $37,827,000 ($1.18 per share) compared to $34,705,000 ($1.10 per share) for the fourth quarter of 2010.

Consolidated total revenue of the Company increased 26% in the fourth quarter of 2011 to $463.3 million, up from $368.8 million for the same period in 2010. Revenue from the Company’s loan products, driven by higher loan balances outstanding, contributed the largest portion of the increase for the period. Comparing the ending balance at December 31, 2011 to the same date in 2010, consolidated pawn loan balances were up 16%, domestic pawn loan balances were up 21%, and total combined consumer loan balances, which includes loans extended by the Company directly and loans offered by third parties that the Company guarantees, were up 50%, which led the gain in total revenue during the fourth quarter. Aggregate disposition of merchandise sales rose 24% in the fourth quarter of 2011 compared to the same period in 2010, adding to the top line revenue growth for the period. Consumer loan fees increased 37%, to $180.1 million, in the fourth quarter of 2011 compared to the same period in 2010, as the Company’s E-commerce segment recorded a 44% increase in revenue, led by a 115% increase in revenue from its foreign online lending business.

Net income attributable to the Company increased 9% in the fourth quarter of 2011, to $37.8 million, compared to the same period in 2010. The growth in fourth quarter net income did not fully benefit from the significant increase in revenue as the Company incurred higher operating expenses in its bricks and mortar locations to promote holiday sales and absorbed lower gross profit margins on the disposition of merchandise during the period. In addition, the significant increase in the portfolio of unsecured loans, particularly to non-U.S. customers, led the Company to incur a greater than expected increase in reserves for estimated loan losses during the quarter. Also, included in the results for the fourth quarter of 2011 are approximately $1.4 million ($0.9 million net of taxes, or approximately 3 cents per share) of expense items related to the filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission by the Company’s wholly-owned subsidiary that comprises its E-commerce segment, Enova International, Inc., on September 15, 2011 in connection with a proposed initial public offering of Enova common stock by the Company and Enova, as well as expenses related to acquisition activity during the quarter and legal expenses.

Commenting on the results of the quarter, Daniel R. Feehan, President and Chief Executive Officer of Cash America, said, “We had a successful quarter in terms of revenue growth and asset expansion as we invested in new loan products oriented to meet the needs of our customers. The increase in our consumer loan portfolio generated a significant increase in revenue, although an attributable increase in expenses for marketing and loss reserves reduced a portion of the near term contribution to earnings. We are committed to the growth in these assets as we reach more customers in need of our services. The holiday selling season achieved the sales objectives we expected but with a greater level of pricing discounts than anticipated, which lowered the gross profit margin on our retail sales but positioned our merchandise inventory well as we enter 2012.” Mr. Feehan added, “This was a year of many accomplishments for the Cash America team, highlighted by a record level of total revenue, which reached $1.54 billion, and an all-time high level of earnings after taxes which reached $136 million, up 18% from calendar year 2010.”

Net income attributable to the Company for the twelve months ended December 31, 2011 was $135,963,000 ($4.25 per share) compared to $115,538,000 ($3.67 per share) for the same twelve-month period of 2010. Total revenue for the fiscal year ended December 31, 2011 increased 19% to $1.54 billion, up from $1.29 billion during the same twelve-month period in 2010.

Cash America will conduct a conference call to discuss its fourth quarter earnings on Thursday, January 26, 2012, at 7:00 AM CST. A live web cast of the call will be available on the Company’s corporate web site in the Investor Relations section (www.cashamerica.com). To listen to the live call, please go to the web site at least fifteen minutes early to register, download, and install any necessary audio software.

Additionally, the Company announced that the Board of Directors, at its regularly scheduled quarterly meeting, declared a $0.035 (3.5 cents) per share cash dividend on common stock outstanding. The dividend will be paid at the close of business on February 22, 2012 to shareholders of record on February 8, 2012.

The Registration Statement on Form S-1 that was filed on September 15, 2011 with the Securities and Exchange Commission in connection with a proposed initial public offering of Enova common stock by the Company and Enova has not yet become effective, which restricts the Company from issuing earnings guidance for the 2012 first quarter and year ending 2012 at this time.

About the Company

As of December 31, 2011, Cash America International, Inc. operated 1,084 total locations offering specialty financial services to consumers, which include 784 lending locations (including one unconsolidated franchised location) operating in 23 states in the United States under the names “Cash America Pawn,” “SuperPawn,” “Maxit,” “Pawn X-Change,” “Cash America Payday Advance,” and “Cashland,” and 190 pawn lending locations, of which the Company is a majority owner, operating in 21 jurisdictions in central and southern Mexico under the name “Prenda Fácil.” The Company also operated 104 unconsolidated franchised and six Company-owned check cashing centers operating in 18 states in the United States under the name “Mr. Payroll” as of December 31, 2011. Additionally, as of December 31, 2011, the Company offered consumer loans over the Internet to customers in 32 states in the United States at http://www.cashnetusa.com, in the United Kingdom at http://www.quickquid.co.uk and http://www.poundstopocket.co.uk, in Australia at http://www.dollarsdirect.com.au, and in Canada at http://www.dollarsdirect.ca.

For additional information regarding the Company and the services it provides, visit the Company’s websites located at:

http://www.cashamerica.com	http://www.dollarsdirect.com.au
http://www.enova.com	http://www.dollarsdirect.ca
http://www.cashnetusa.com	http://www.goldpromise.com
http://www.cashlandloans.com	http://www.mrpayroll.com
http://www.quickquid.co.uk	http://www.primaryinnovations.net
http://www.poundstopocket.co.uk

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release contains forward-looking statements about the business, financial condition and prospects of Cash America International, Inc. and its subsidiaries (the “Company”). The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties including, without limitation, changes in pawn, consumer loan, tax and other domestic and foreign laws and governmental rules and regulations applicable to the Company's business, changes in demand for the Company's services, acceptance by consumers, legislators or regulators of the negative characterization by the media and consumer activists with respect to certain of the Company’s loan products, the continued acceptance of the online distribution channel by the Company’s online loan customers, the actions of third parties who provide, acquire or offer products and services to, from or for the Company, fluctuations in the price of gold, changes in competition, the ability of the Company to open new locations or complete acquisitions in accordance with its plans, changes in economic conditions, real estate market fluctuations, interest rate fluctuations, changes in foreign currency exchange rates, changes in the capital markets, changes in the Company’s ability to satisfy its debt obligations or to refinance existing debt obligations or obtain new capital to finance growth, the ability to successfully integrate newly acquired businesses into the Company’s operations, the loss of services of any of the Company’s executive officers, a prolonged interruption in the Company’s operations of its facilities, systems and business functions, including its information technology and other business systems, the effect of any current or future litigation proceedings on the Company, the implementation of new, or changes in the interpretation of existing, accounting principles or financial reporting requirements, acts of God, war or terrorism, pandemics and other events, the effect of any of such changes on the Company’s business or the markets in which it operates, risks related to the Company’s previously-announced proposed initial public offering of common stock of its wholly-owned subsidiary, Enova International, Inc. (“Enova”), and other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission. These risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release.

The Registration Statement on Form S-1 that was filed with the Securities and Exchange Commission by the Company’s wholly-owned subsidiary, Enova, has not yet become effective. The completion of the offering of common stock of Enova is subject to numerous conditions, including market conditions, and the Company can provide no assurance that it will be successfully completed. The securities offered under Enova’s Registration Statement may not be sold, nor may offers to buy be accepted prior to the time that the Registration Statement becomes effective. The information contained in this press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
HIGHLIGHTS OF CONSOLIDATED RESULTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)
	Three Months Ended					Year Ended
	December 31,					December 31,
	2011		2010			2011		2010
Consolidated Operations:
Total revenue	$	463,252	$	368,831	$	1,540,602	$	1,293,339
Net revenue		248,329		211,802		909,759		772,189
Total operating expenses		180,204		150,612		665,417		565,057
Income from operations	$	68,125	$	61,190	$	244,342	$	207,132
Income before income taxes		60,688		54,925		217,526		184,513
Net Income	$	37,605	$	34,801	$	135,166	$	115,244
Net (income) loss attributable to the noncontrolling interest	$	222	$	(96)	$	797	$	294
Net Income Attributable to Cash America International, Inc.	$	37,827	$	34,705	$	135,963	$	115,538
Earnings per share:
Net Income attributable to Cash America International, Inc. common shareholders:
Basic	$	1.28	$	1.17	$	4.59	$	3.90
Diluted	$	1.18	$	1.10	$	4.25	$	3.67
Weighted average shares:
Basic		29,528		29,759		29,602		29,640
Diluted		32,059		31,655		31,991		31,521

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
(Unaudited)
	December 31,
		2011		2010
Assets
Current assets:
Cash and cash equivalents	$	62,542	$	38,324
Pawn loans		253,519		218,408
Consumer loans, net		222,778		139,377
Merchandise held for disposition, net		151,274		124,399
Pawn loan fees and service charges receivable		48,003		41,216
Prepaid expenses and other assets		45,176		32,490
Deferred tax assets		35,065		28,016
Total current assets		818,357		622,230
Property and equipment, net		246,429		222,320
Goodwill		562,721		543,324
Intangible assets, net		34,771		31,188
Other assets		15,236		8,124
Total assets	$	1,677,514	$	1,427,186
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses	$	116,378	$	96,465
Customer deposits		9,935		9,146
Income taxes currently payable		12,880		888
Current portion of long-term debt		34,273		24,433
Total current liabilities		173,466		130,932
Deferred tax liabilities		89,712		56,792
Noncurrent income tax payable		2,315		2,408
Other liabilities		1,413		2,052
Long-term debt		503,018		432,271
Total liabilities	$	769,924	$	624,455
Equity:
Cash America International, Inc. equity:
Common stock, $0.10 par value per share, 80,000,000 shares authorized, 30,235,164 shares issued		3,024		3,024
Additional paid-in capital		167,683		165,658
Retained earnings		776,060		644,208
Accumulated other comprehensive (loss) income		(6,896)		4,797
Treasury shares, at cost (1,011,356 shares and 685,315 shares
at December 31, 2011 and 2010, respectively)		(37,419)		(21,283)
Total Cash America International, Inc. shareholders' equity		902,452		796,404
Noncontrolling interest		5,138		6,327
Total equity		907,590		802,731
Total liabilities and equity	$	1,677,514	$	1,427,186

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data) (Unaudited)
		Three Months Ended				Year Ended
		December 31,				December 31,
		2011		2010		2011		2010
		(Unaudited)
Revenue
Pawn loan fees and service charges	$	79,601	$	71,558	$	291,891	$	253,314
Proceeds from disposition of merchandise		200,953		162,147		636,728		534,878
Consumer loan fees		180,124		131,773		598,646		490,952
Other		2,574		3,353		13,337		14,195
Total Revenue		463,252		368,831		1,540,602		1,293,339
Cost of Revenue
Disposed merchandise		134,440		104,598		405,155		338,756
Consumer loan loss provision		80,483		52,431		225,688		182,394
Total Cost of Revenue		214,923		157,029		630,843		521,150
Net Revenue		248,329		211,802		909,759		772,189
Expenses
Operations		133,235		115,355		486,234		419,616
Administration		32,420		22,685		125,034		101,518
Depreciation and amortization		14,549		12,572		54,149		43,923
Total Expenses		180,204		150,612		665,417		565,057
Income from Operations		68,125		61,190		244,342		207,132
Interest expense		(7,221)		(5,835)		(25,528)		(22,345)
Interest income		25		8		81		325
Foreign currency transaction loss		(207)		(363)		(1,265)		(463)
Equity in loss of unconsolidated subsidiary		(34)		(75)		(104)		(136)
Income before Income Taxes		60,688		54,925		217,526		184,513
Provision for income taxes		23,083		20,124		82,360		69,269
Net Income		37,605		34,801		135,166		115,244
Net loss (income) attributable to the noncontrolling interest		222		(96)		797		294
Net Income Attributable to Cash America International, Inc.	$	37,827	$	34,705	$	135,963	$	115,538
Earnings Per Share:
Net Income attributable to Cash America International, Inc. common shareholders:
Basic	$	1.28	$	1.17	$	4.59	$	3.90
Diluted	$	1.18	$	1.10	$	4.25	$	3.67
Weighted average common shares outstanding:
Basic		29,528		29,759		29,602		29,640
Diluted		32,059		31,655		31,991		31,521
Dividends declared per common share	$	0.035	$	0.035	$	0.140	$	0.140

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES PAWN LENDING ACTIVITIES – FINANCIAL AND OPERATING DATA (in thousands, except where otherwise noted)
The following table outlines certain data related to the Company’s pawn loan activities as of and for the three months and years ended December 31, 2011 and 2010.
	2011							2010
As of December 31:	Domestic			Foreign		Total		Domestic		Foreign			Total
Ending pawn loan balances	$	238,399	$	15,120		$	253,519	$	197,301	$	21,107		$	218,408
Ending merchandise balance, net	$	151,274	$	-	(a)	$	151,274	$	124,399	$	-	(a)	$	124,399
Three Months Ended December 31:
Pawn loan fees and service charges	$	71,420	$	8,181		$	79,601	$	62,755	$	8,803		$	71,558
Average pawn loan balance outstanding	$	231,424	$	17,561		$	248,985	$	190,642	$	21,246		$	211,888
Amount of pawn loans written and renewed	$	227,944	$	37,266		$	265,210	$	197,874	$	23,348		$	221,222
Annualized yield on pawn loans		122.4%		116.5%	(a)		121.8%		130.6%		126.9%	(a)		130.1%
Gross profit margin on disposition of merchandise		33.1%		-	(a)		33.1%		35.5%		-	(a)		35.5%
Merchandise turnover		3.3		-	(a)		3.3		3.2		-	(a)		3.2
	2011							2010
Year Ended December 31:	Domestic		Foreign			Total		Domestic		Foreign			Total
Pawn loan fees and service charges	$	261,829	$	30,062		$	291,891	$	221,335	$	31,979		$	253,314
Average pawn loan balance outstanding	$	205,610	$	20,629		$	226,239	$	166,163	$	22,111		$	188,274
Amount of pawn loans written and renewed	$	869,203	$	118,126		$	987,329	$	689,476	$	89,746		$	779,222
Annualized yield on pawn loans		127.3%		105.2%	(a)		124.6%		133.2%		116.4%	(a)		130.8%
Gross profit margin on disposition of merchandise		36.4%		-	(a)		36.4%		36.7%		-	(a)		36.7%
Merchandise turnover		3.0		-	(a)		3.0		3.0		-	(a)		3.0

^(a) With respect to the Company’s foreign pawn operations, the annualized yield on pawn loans is calculated using the average pawn loan balance outstanding in the table above, plus the average collateral underlying unredeemed pawn loans, which is included in “Other assets” in the Company’s consolidated balance sheets, of $10,277 and $6,272 for the three months ended December 31, 2011 and 2010, respectively, and $7,947 and $5,355 for the years ended December 31, 2011 and 2010, respectively. Collateral underlying unredeemed pawn loans will be sold to settle the obligations owed by the customer but are not owned by the Company; therefore, profit on the disposition of this collateral is recorded as pawn loan fees and service charges in the Company’s consolidated statements of operations.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES

MERCHANDISE DISPOSITION, GROSS PROFIT AND INVENTORY OPERATING DATA

(in thousands)

Profit from the disposition of merchandise represents the proceeds received from the disposition of merchandise in excess of the cost of disposed merchandise. Retail sales include the sale of jewelry and general merchandise direct to consumers through any of the Company’s retail services locations or the internet. Commercial sales include the sale of refined gold, platinum and diamonds to refiners, brokers or manufacturers. The following table summarizes the proceeds from the disposition of merchandise and the related profit for the three months and years ended December 31, 2011 and 2010.

	Three Months Ended December 31,
	2011									2010
	Retail			Commercial			Total			Retail			Commercial			Total
Proceeds from disposition	$	100,439		$	100,514		$	200,953		$	91,548		$	70,599		$	162,147
Gross profit on disposition	$	36,594		$	29,919		$	66,513		$	35,710		$	21,839		$	57,549
Gross profit margin		36.4	%		29.8	%		33.1	%		39.0	%		30.9	%		35.5	%
Percentage of total gross profit		55.0	%		45.0	%		100.0	%		62.1	%		37.9	%		100.0	%

	Year Ended December 31,
	2011									2010
	Retail			Commercial			Total			Retail			Commercial			Total
Proceeds from disposition	$	346,469		$	290,259		$	636,728		$	306,300		$	228,578		$	534,878
Gross profit on disposition	$	134,455		$	97,118		$	231,573		$	121,819		$	74,303		$	196,122
Gross profit margin		38.8	%		33.5	%		36.4	%		39.8	%		32.5	%		36.7	%
Percentage of total gross profit		58.1	%		41.9	%		100.0	%		62.1	%		37.9	%		100.0	%

The table below summarizes the age of merchandise held for disposition before valuation allowance of $0.7 million at December 31, 2011 and 2010 (dollars in thousands).

	2011			2010
Balance at December 31,	Amount		%	Amount		%
Jewelry – held for one year or less	$	94,649	62.3	$	79,566	63.6
Other merchandise – held for one year or less		50,907	33.5		39,809	31.8
Total merchandise held for one year or less		145,556	95.8		119,375	95.4
Jewelry – held for more than one year		2,626	1.7		2,685	2.2
Other merchandise – held for more than one year		3,792	2.5		3,039	2.4
Total merchandise held for more than one year		6,418	4.2		5,724	4.6
Total merchandise held for disposition	$	151,974	100.0	$	125,099	100.0

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSUMER LOAN FINANCIAL AND OPERATING DATA (in thousands, except where otherwise noted)
The following table sets forth consumer loan fees by channel and segment, adjusted for the deduction of the loan loss provision for the three months and years ended December 31, 2011 and 2010 (dollars in thousands):
	Three Months Ended December 31,
	2011									2010
	Retail Services			E-Commerce			Total			Retail Services			E-Commerce			Total
Short-term loans	$	30,570		$	127,246		$	157,816		$	29,229		$	95,008		$	124,237
Installment loans		2,790			19,518			22,308			1,168			4,294			5,462
MLOC		-			-			-			-			2,074			2,074
Consumer loan fees	$	33,360		$	146,764		$	180,124		$	30,397		$	101,376		$	131,773
Consumer loan loss provision		8,549			71,934			80,483			4,466			47,965			52,431
Consumer loan fees, net of loan loss provision	$	24,811		$	74,830		$	99,641		$	25,931		$	53,411		$	79,342
Year-over-year change - $	$	(1,120)		$	21,419		$	20,299		$	(395)		$	10,174		$	9,779
Year-over-year change - %		(4.3)	%		40.1	%		25.6	%		(1.5)	%		23.5	%		14.1	%
Consumer loan loss provision as a % of consumer loan fees		25.6	%		49.0	%		44.7	%		14.7	%		47.3	%		39.8	%
	Year Ended December 31,
	2011									2010
	Retail Services			E-Commerce			Total			Retail Services			E-Commerce			Total
Short-term loans	$	110,071		$	431,400		$	541,471		$	112,679		$	338,553		$	451,232
Installment loans		9,121			48,054			57,175			1,294			10,783			12,077
MLOC		-			-			-			-			27,643			27,643
Consumer loan fees	$	119,192		$	479,454		$	598,646		$	113,973		$	376,979		$	490,952
Consumer loan loss provision		24,001			201,687			225,688			17,437			164,957			182,394
Consumer loan fees, net of loan loss provision	$	95,191		$	277,767		$	372,958		$	96,536		$	212,022		$	308,558
Year-over-year change - $	$	(1,345)		$	65,745		$	64,400		$	181		$	67,337		$	67,518
Year-over-year change - %		(1.4)	%		31.0	%		20.9	%		0.2	%		46.5	%		28.0	%
Consumer loan loss provision as a % of consumer loan fees		20.1	%		42.1	%		37.7	%		15.3	%		43.8	%		37.2	%
In addition to providing consumer loans owned by the Company and consumer loans guaranteed by the Company, which are either generally accepted accounting principles (“GAAP”) items or disclosures required by GAAP, the Company has provided combined consumer loans, which is a non-GAAP measure. In addition, the Company has provided disclosure regarding consumer loans written, which is statistical data that is not included in the Company’s financial statements. The Company also provides allowances and liabilities for losses on consumer loans on a combined basis, which are GAAP measures.
Management believes these measures provide investors with important information needed to evaluate the magnitude of potential loan losses and the opportunity for revenue performance of the consumer loan portfolio on an aggregate basis. The comparison of the aggregate amounts from period to period is more meaningful than comparing only the residual amount on the Company’s balance sheet since both revenue and the loss provision for loans are impacted by the aggregate amount of loans owned by the Company and those guaranteed by the Company as reflected in its financial statements.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSUMER LOAN FINANCIAL AND OPERATING DATA (in thousands, except where otherwise noted)
The following tables summarize selected data related to the Company’s consumer loan activities as of December 31, 2011 and 2010 and for the three months and years ended December 31, 2011 and 2010.
	Three Months Ended		Year Ended
	December 31,		December 31,
	2011	2010	2011	2010
Combined consumer loan loss provision as a % of combined consumer loans written(a)	9.2%	7.1%	7.4%	6.2%
Charge-offs (net of recoveries) as a % of combined consumer loans written(a)	7.4%	8.0%	6.6%	5.8%
Combined consumer loan loss provision as a % of consumer loan fees	44.7%	39.8%	37.7%	37.2%
(a) Non-GAAP measure.

	As of December 31,
	2011						2010
	Company Owned(a)		Guaranteed by the Company(a)		Combined(b)		Company Owned(a)		Guaranteed by the Company(a)		Combined(b)
Ending consumer loan balances:
Retail Services
Short-term loans	$	53,601	$	9,237	$	62,838	$	49,267	$	9,819	$	59,086
Installment loans		9,262		7,425		16,687		2,686		3,800		6,486
Total Retail Services, gross		62,863		16,662		79,525		51,953		13,619		65,572
E-Commerce
Domestic
Short-term loans		60,880		39,341		100,221		52,019		37,082		89,101
Installment loans		24,582		-		24,582		11,023		-		11,023
MLOC		-		-		-		1,510		-		1,510
Total Domestic, gross		85,462		39,341		124,803		64,552		37,082		101,634
Foreign
Short-term loans		101,723		3,420		105,143		57,848		1,867		59,715
Installment loans		35,802		-		35,802		3,977		-		3,977
Total Foreign, gross		137,525		3,420		140,945		61,825		1,867		63,692
Total E-Commerce, gross		222,987		42,761		265,748		126,377		38,949		165,326
Total ending loan balance, gross		285,850		59,423		345,273		178,330		52,568		230,898
Less: Allowance and liabilities for losses		(63,072)		(3,062)		(66,134)		(38,953)		(2,838)		(41,791)
Total ending loan balance, net	$	222,778	$	56,361	$	279,139	$	139,377	$	49,730	$	189,107

^(a)GAAP measure. The consumer loan balances guaranteed by the Company relate to loans originated through the CSO programs and are not recorded in the Company’s financial statements.

^(b)Except for allowance and liability for losses, amounts represent non-GAAP measures.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSUMER LOAN FINANCIAL AND OPERATING DATA (in thousands, except where otherwise noted)
The following table summarizes consumer loans written for the three months and years ended December 31, 2011 and 2010 (dollars in thousands).
	Three Months Ended December 31,
	2011						2010
	Company Owned(a)		Guaranteed by the Company(a)(b)		Combined(a)		Company Owned(a)		Guaranteed by the Company(a)(b)		Combined(a)
Amount of consumer loans written:
Retail Services
Short-term loans	$	202,782	$	46,079	$	248,861	$	191,663	$	51,067	$	242,730
Installment loans		1,676		5,588		7,264		472		5,112		5,584
Total Retail Services		204,458		51,667		256,125		192,135		56,179		248,314
E-Commerce
Domestic
Short-term loans		117,581		189,585		307,166		123,415		184,899		308,314
Installment loans		14,270		-		14,270		10,469		-		10,469
MLOC		-		-		-		14,489		-		14,489
Total Domestic		131,851		189,585		321,436		148,373		184,899		333,272
Foreign
Short-term loans		252,334		16,441		268,775		141,556		8,631		150,187
Installment loans		24,510		-		24,510		4,042		-		4,042
Total Foreign		276,844		16,441		293,285		145,598		8,631		154,229
Total E-Commerce		408,695		206,026		614,721		293,971		193,530		487,501
Total amount of consumer loans written	$	613,153	$	257,693	$	870,846	$	486,106	$	249,709	$	735,815
Number of consumer loans written:
Retail Services
Short-term loans		430,692		82,935		513,627		430,902		89,624		520,526
Installment loans		1,757		824		2,581		1,275		863		2,138
Total Retail Services		432,449		83,759		516,208		432,177		90,487		522,664
E-Commerce
Domestic
Short-term loans		360,255		265,007		625,262		353,031		272,192		625,223
Installment loans		11,521		-		11,521		12,650		-		12,650
MLOC		-		-		-		72,371		-		72,371
Total Domestic		371,776		265,007		636,783		438,052		272,192		710,244
Foreign
Short-term loans		465,473		23,557		489,030		272,493		15,446		287,939
Installment loans		21,382		-		21,382		4,885		-		4,885
Total Foreign		486,855		23,557		510,412		277,378		15,446		292,824
Total E-Commerce		858,631		288,564		1,147,195		715,430		287,638		1,003,068
Total number of consumer loans written		1,291,080		372,323		1,663,403		1,147,607		378,125		1,525,732
(a) The disclosure regarding the amount and number of consumer loans written is statistical data that is not included in the Company’s financial statements.
(b) Loans guaranteed by the Company represent loans originated through the CSO programs.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES CONSUMER LOAN FINANCIAL AND OPERATING DATA (in thousands, except where otherwise noted)
	Year Ended December 31,
	2011						2010
	Company Owned(a)		Guaranteed by the Company(a)(b)		Combined(a)		Company Owned(a)		Guaranteed by the Company(a)(b)		Combined(a)
Amount of consumer loans written:
Retail Services
Short-term loans	$	736,964	$	174,510	$	911,474	$	702,422	$	199,155	$	901,577
Installment loans		8,256		15,781		24,037		739		6,905		7,644
Total Retail Services		745,220		190,291		935,511		703,161		206,060		909,221
E-Commerce
Domestic
Short-term loans		433,053		681,009		1,114,062		459,616		782,290		1,241,906
Installment loans		42,532		-		42,532		23,656		-		23,656
MLOC		-		-		-		288,723		-		288,723
Total Domestic		475,585		681,009		1,156,594		771,995		782,290		1,554,285
Foreign
Short-term loans		820,841		56,917		877,758		429,853		24,797		454,650
Installment loans		61,307		-		61,307		4,161		-		4,161
Total Foreign		882,148		56,917		939,065		434,014		24,797		458,811
Total E-Commerce		1,357,733		737,926		2,095,659		1,206,009		807,087		2,013,096
Total amount of consumer loans written	$	2,102,953	$	928,217	$	3,031,170	$	1,909,170	$	1,013,147	$	2,922,317
Number of consumer loans written:
Retail Services
Short-term loans		1,586,551		309,003		1,895,554		1,602,914		347,008		1,949,922
Installment loans		6,858		2,863		9,721		2,034		1,187		3,221
Total Retail Services		1,593,409		311,866		1,905,275		1,604,948		348,195		1,953,143
E-Commerce
Domestic
Short-term loans		1,317,483		958,821		2,276,304		1,284,299		1,135,762		2,420,061
Installment loans		36,151		-		36,151		34,305		-		34,305
MLOC		-		-		-		1,451,330		-		1,451,330
Total Domestic		1,353,634		958,821		2,312,455		2,769,934		1,135,762		3,905,696
Foreign
Short-term loans		1,543,453		84,897		1,628,350		865,996		52,460		918,456
Installment loans		53,567		-		53,567		5,018		-		5,018
Total Foreign		1,597,020		84,897		1,681,917		871,014		52,460		923,474
Total E-Commerce		2,950,654		1,043,718		3,994,372		3,640,948		1,188,222		4,829,170
Total number of consumer loans written		4,544,063		1,355,584		5,899,647		5,245,896		1,536,417		6,782,313
(a) The disclosure regarding the amount and number of consumer loans written is statistical data that is not included in the Company’s financial statements.
(b) Loans guaranteed by the Company represent loans originated through the CSO programs.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES INCOME FROM OPERATIONS BY OPERATING SEGMENT (in thousands)
The Company allocates corporate administrative expenses to each operating segment based on personnel expenses at each segment. In the e-commerce segment, certain administrative expenses are allocated between the domestic and foreign components based on the amount of loans written for each geographic location.
	Retail Services						E-Commerce
	Domestic		Foreign		Total		Domestic		Foreign		Total		Consolidated
Three Months Ended December 31, 2011
Revenue
Pawn loan fees and service charges	$	71,420	$	8,181	$	79,601	$	-	$	-	$	-	$	79,601
Proceeds from disposition of merchandise		200,953		-		200,953		-		-		-		200,953
Consumer loan fees		33,360		-		33,360		72,909		73,855		146,764		180,124
Other		2,665		253		2,918		201		(545)		(344)		2,574
Total revenue		308,398		8,434		316,832		73,110		73,310		146,420		463,252
Disposed merchandise		134,440		-		134,440		-		-		-		134,440
Consumer loan loss provision		8,549		-		8,549		31,401		40,533		71,934		80,483
Total cost of revenue		142,989		-		142,989		31,401		40,533		71,934		214,923
Net revenue		165,409		8,434		173,843		41,709		32,777		74,486		248,329
Expenses
Operations		88,571		5,380		93,951		19,710		19,574		39,284		133,235
Administration		12,457		2,889		15,346		10,027		7,047		17,074		32,420
Depreciation and amortization		10,448		1,412		11,860		2,457		232		2,689		14,549
Total expenses		111,476		9,681		121,157		32,194		26,853		59,047		180,204
Income (loss) from operations	$	53,933	$	(1,247)	$	52,686	$	9,515	$	5,924	$	15,439	$	68,125
As of December 31, 2011
Total assets	$	1,068,761	$	120,735	$	1,189,496	$	352,244	$	135,774	$	488,018	$	1,677,514
Goodwill					$	352,439					$	210,282	$	562,721
	Retail Services						E-Commerce
	Domestic		Foreign		Total		Domestic		Foreign		Total		Consolidated
Three Months Ended December 31, 2010
Revenue
Pawn loan fees and service charges	$	62,755	$	8,803	$	71,558	$	-	$	-	$	-	$	71,558
Proceeds from disposition of merchandise		162,147		-		162,147		-		-		-		162,147
Consumer loan fees		30,397		-		30,397		67,402		33,974		101,376		131,773
Other		2,647		162		2,809		465		79		544		3,353
Total revenue		257,946		8,965		266,911		67,867		34,053		101,920		368,831
Disposed merchandise		104,598		-		104,598		-		-		-		104,598
Consumer loan loss provision		4,466		-		4,466		30,934		17,031		47,965		52,431
Total cost of revenue		109,064		-		109,064		30,934		17,031		47,965		157,029
Net revenue		148,882		8,965		157,847		36,933		17,022		53,955		211,802
Expenses
Operations		81,829		4,709		86,538		18,421		10,396		28,817		115,355
Administration		9,437		1,795		11,232		8,144		3,309		11,453		22,685
Depreciation and amortization		8,301		1,847		10,148		2,348		76		2,424		12,572
Total expenses		99,567		8,351		107,918		28,913		13,781		42,694		150,612
Income from operations	$	49,315	$	614	$	49,929	$	8,020	$	3,241	$	11,261	$	61,190
As of December 31, 2010
Total assets	$	929,696	$	123,044	$	1,052,740	$	312,642	$	61,804	$	374,446	$	1,427,186
Goodwill					$	333,042					$	210,282	$	543,324

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES INCOME FROM OPERATIONS BY OPERATING SEGMENT (in thousands)
	Retail Services						E-Commerce
	Domestic		Foreign		Total		Domestic		Foreign		Total		Consolidated
Year Ended December 31, 2011
Revenue
Pawn loan fees and service charges	$	261,829	$	30,062	$	291,891	$	-	$	-	$	-	$	291,891
Proceeds from disposition of merchandise		636,698		-		636,698		30		-		30		636,728
Consumer loan fees		119,192		-		119,192		254,152		225,302		479,454		598,646
Other		11,913		545		12,458		593		286		879		13,337
Total revenue		1,029,632		30,607		1,060,239		254,775		225,588		480,363		1,540,602
Disposed merchandise		405,132		-		405,132		23		-		23		405,155
Consumer loan loss provision		24,001		-		24,001		90,535		111,152		201,687		225,688
Total cost of revenue		429,133		-		429,133		90,558		111,152		201,710		630,843
Net revenue		600,499		30,607		631,106		164,217		114,436		278,653		909,759
Expenses
Operations		335,908		23,012		358,920		64,874		62,440		127,314		486,234
Administration		50,655		10,592		61,247		37,517		26,270		63,787		125,034
Depreciation and amortization		37,015		5,871		42,886		10,413		850		11,263		54,149
Total expenses		423,578		39,475		463,053		112,804		89,560		202,364		665,417
Income (loss) from operations	$	176,921	$	(8,868)	$	168,053	$	51,413	$	24,876	$	76,289	$	244,342
	Retail Services						E-Commerce
	Domestic		Foreign		Total		Domestic		Foreign		Total		Consolidated
Year Ended December 31, 2010
Revenue
Pawn loan fees and service charges	$	221,335	$	31,979	$	253,314	$	-	$	-	$	-	$	253,314
Proceeds from disposition of merchandise		534,878		-		534,878		-		-		-		534,878
Consumer loan fees		113,973		-		113,973		275,036		101,943		376,979		490,952
Other		12,554		303		12,857		1,259		79		1,338		14,195
Total revenue		882,740		32,282		915,022		276,295		102,022		378,317		1,293,339
Disposed merchandise		338,756		-		338,756		-		-		-		338,756
Consumer loan loss provision		17,437		-		17,437		116,246		48,711		164,957		182,394
Total cost of revenue		356,193		-		356,193		116,246		48,711		164,957		521,150
Net revenue		526,547		32,282		558,829		160,049		53,311		213,360		772,189
Expenses
Operations		301,399		17,195		318,594		68,541		32,481		101,022		419,616
Administration		44,008		8,100		52,108		37,077		12,333		49,410		101,518
Depreciation and amortization		29,839		5,525		35,364		8,283		276		8,559		43,923
Total expenses		375,246		30,820		406,066		113,901		45,090		158,991		565,057
Income from operations	$	151,301	$	1,462	$	152,763	$	46,148	$	8,221	$	54,369	$	207,132

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES LOCATION INFORMATION
Retail Services Segment
The following table sets forth the number of domestic and foreign locations in the Company’s retail services segment offering pawn lending, consumer lending, and other services as of December 31, 2011 and 2010. The Company’s domestic retail services locations operate under the names “Cash America Pawn,” “SuperPawn,” “Cash America Payday Advance,” “Cashland,” “Maxit,” “Pawn X-Change” and “Mr. Payroll.” (Maxit and Pawn X-Change were acquired in October 2010.) The Company’s foreign retail services locations (of which the Company is a majority owner) operate under the name “Prenda Fácil.”
	As of December 31,
	2011			2010
	Domestic(a)(b)	Foreign(a)	Total	Domestic(a)(b)	Foreign(a)	Total
Retail services locations offering:
Both pawn and consumer lending	572	-	572	567	-	567
Pawn lending only	126	190	316	124	180	304
Consumer lending only	86	-	86	88	-	88
Other (c)	110	-	110	122	-	122
Total retail services	894	190	1,084	901	180	1,081

(a)	Except as described in (c) below, includes locations that operate in 23 states in the United States as of both December 31, 2011 and 2010, respectively, and 21 states in Mexico, as of both December 31, 2011 and 2010.
(b)	Includes one and nine unconsolidated franchised locations operating under the name “Cash America Pawn” as of December 31, 2011 and 2010, respectively.
(c)	As of December 31, 2011 and 2010, includes six consolidated Company-owned check cashing locations and 104 and 116 unconsolidated franchised check cashing locations, respectively. As of December 31, 2011, includes locations that operate in 18 states in the United States.

E-Commerce Segment

As of December 31, 2011, the Company’s e-commerce operating segment offers consumer loans to customers over the Internet:

• in 32 states in the United States at http://www.cashnetusa.com,
• in the United Kingdom at http://www.quickquid.co.uk and http://www.poundstopocket.co.uk,
• in Australia at http://www.dollarsdirect.com.au, and
• in Canada at http://www.dollarsdirect.ca.

The e-commerce segment also includes the Company’s MLOC services channel, which processed MLOC advances on behalf of a third-party lender and had a participation interest in MLOC receivables during most of 2010. In the past, the MLOC services channel generated its earnings through loan processing services the Company provided for a third-party lender, as well as from fees generated from participation interests in receivables the Company acquired. This program ended in October 2010 because the third-party lender discontinued offering MLOC advances. The Company intends to continue pursuing the development of new MLOC opportunities during 2012.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES

NON-GAAP DISCLOSURE

Non-GAAP Disclosure

In addition to the financial information prepared in conformity with GAAP, the Company provides historical non-GAAP financial information. Management believes that presentation of non-generally accepted accounting principles, or non-GAAP, financial information is meaningful and useful in understanding the activities and business metrics of the Company’s operations. Management believes that this non-GAAP financial measure reflects an additional way of viewing aspects of the Company’s business that, when viewed with its generally accepted accounting principles, or GAAP, results, provide a more complete understanding of factors and trends affecting its business.

Management provides non-GAAP financial information for informational purposes and to enhance understanding of the Company’s GAAP consolidated financial statements. Readers should consider the information in addition to, but not instead of, its financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES ADJUSTED EARNINGS PER SHARE
Adjusted Earnings Per Share In addition to reporting financial results in accordance with GAAP, the Company has provided adjusted earnings and adjusted earnings per share, which are non-GAAP measures. Management believes these measures are useful to help investors better understand the Company’s financial performance, competitive position and prospects for the future.
These non-GAAP measures are used by management in evaluating the Company’s results of operations and liquidity. The following table provides reconciliation between net income attributable to the Company and diluted earnings per share calculated in accordance with GAAP to adjusted earnings and adjusted earnings per share, respectively (dollars in thousands except per share data):
	Three Months Ended December 31,								Year Ended December 31,
		2011				2010			2011				2010
	$		Per Share		$		Per Share		$		Per Share		$		Per Share
As reported net income	$	37,827	$	1.18	$	34,705	$	1.10	$	135,963	$	4.25	$	115,538	$	3.67
Adjustments:
Intangible asset amortization, net of tax		885		0.03		933		0.03		3,905		0.12		2,993		0.09
Non-cash equity-based compensation, net of tax		619		0.02		608		0.02		3,064		0.10		2,384		0.08
Convertible debt non-cash interest and amortization of issuance costs, net of tax		566		0.02		542		0.01		2,214		0.07		2,088		0.06
Foreign exchange loss, net of tax		128		-		230		0.01		786		0.02		289		0.01
Adjusted earnings	$	40,025	$	1.25	$	37,018	$	1.17	$	145,932	$	4.56	$	123,292	$	3.91

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES ADJUSTED EBITDA
Adjusted EBITDA
The table below shows adjusted EBITDA, a non-GAAP measure that the Company defines as earnings excluding depreciation, amortization, interest, foreign currency transaction gains or losses, equity in earnings or loss of unconsolidated subsidiary, taxes and including the net income or loss attributable to the noncontrolling interest. Management believes adjusted EBITDA is used by investors to analyze operating performance and evaluate the Company’s ability to incur and service debt and its capacity for making capital expenditures. Adjusted EBITDA is also useful to investors to help assess the Company’s liquidity and estimated enterprise value. The computation of adjusted EBITDA as presented below may differ from the computation of similarly-titled measures provided by other companies (dollars in thousands):
	Year Ended December 31,
	2011		2010
Net Income attributable to Cash America International, Inc.	$	135,963	$	115,538
Adjustments:
Depreciation and amortization expenses		54,149		43,923
Interest expense, net		25,447		22,020
Foreign currency transaction loss		1,265		463
Equity in loss of unconsolidated subsidiary		104		136
Provision for income taxes		82,360		69,269
Net loss attributable to the noncontrolling interest		(797)		(294)
Adjusted EBITDA	$	298,491	$	251,055
Adjusted EBITDA margin calculated as follows:
Total revenue	$	1,540,602	$	1,293,339
Adjusted EBITDA		298,491		251,055
Adjusted EBITDA as a percentage of total revenue		19.4%		19.4%

CONTACT:
Cash America International, Inc.
Thomas A. Bessant, Jr., 817-335-1100