EZCORP (EZPW) 8-K Ezcorp Announces Yearend Results

EXHIBIT 99.1

EZCORP ANNOUNCES YEAREND RESULTS

AUSTIN, Texas (November 8, 2007)— EZCORP, Inc. (Nasdaq: EZPW) announced today results for its fourth fiscal quarter and 2007 fiscal year, which ended September 30, 2007.

For the quarter ended September 30, 2007, EZCORP’s net income increased 22% to $11,155,000 ($0.26 per share) compared to $9,168,000 ($0.21 per share) for the quarter ended September 30, 2006. Total revenues for the quarter increased 19% to $103,892,000 while operating income improved 28% to $16,727,000.

For the twelve months ended September 30, 2007, net income increased 29% to $37,874,000 ($0.88 per share) compared to $29,259,000 ($0.69 per share) for the prior year twelve month period. Total revenues grew 18% to $372,215,000 while operating income increased 29% to $55,537,000.

Commenting on these results, President and Chief Executive Officer, Joe Rotunda, stated, “It has been a busy quarter and year for us. In June, we completed the largest acquisition in our history with the acquisition of the 15 Jumping Jack Cash pawnshop locations in Colorado. In August, we entered into an agreement for our most strategic acquisition in our history, the acquisition of the 20 Mister Money pawnshop locations in Mexico. On October 22^nd, we closed on that acquisition and we now operate 24 pawnshops in Mexico. During the year we continued the expansion of our EZMONEY locations adding a net 99 stores and expanded into four new states.”

Rotunda continued, “In our fourth quarter we saw exceptionally strong performance in our pawn business and continued strong performance in our signature loan business. Our pawn net revenues increased almost 14% in the quarter resulting from 3% same store sales growth, 9% same store pawn service charge growth and the addition of net revenues from the Jumping Jack Cash locations. Our signature loan contribution, or fees less bad debt, increased approximately 30% from the prior year quarter. Our bad debt, measured as a percent of fees of 31% was up approximately five percentage points from the prior year quarter but improved roughly seven percentage points from the June quarter.”

Rotunda concluded, “Looking forward, we will maintain our intensity on growing the business, improving profitability and strengthening our balance sheet. For our fiscal 2008 that began on October 1^st, we expect to deliver earnings per share of approximately $1.12. For our first fiscal 2008 quarter, we expect to generate earnings per share of approximately $0.28. In fiscal 2008, we plan to open approximately 100 EZMONEY locations and seven to ten Mexico pawnshop locations.”

EZCORP is primarily a lender or provider of credit services to individuals who do not have cash resources or access to credit to meet their short-term cash needs. The Company offers non-recourse loans collateralized by tangible personal property, commonly known as pawn loans, in 294 U.S. and four Mexico EZPAWN locations and 20 Mister Money Mexico locations open on November 7, 2007. At these locations, the Company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value. In 434 EZMONEY locations and 75 EZPAWN locations open on November 7, 2007, the Company offers short-term non-collateralized loans, often referred to as payday loans, or fee based credit services to customers seeking loans.

This announcement contains certain forward-looking statements regarding the Company’s expected performance for future periods including, but not limited to, new store expansion, anticipated benefits of acquisitions and investments and expected future earnings. Actual results for these periods may materially differ from these statements. Such forward-looking statements involve risks and uncertainties such as changing market conditions in the overall economy and the industry, consumer demand for the Company’s services and merchandise, changes in the regulatory environment, and other factors periodically discussed in the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission.

You are invited to listen to a conference call discussing these results on November 8, 2007 at 3:30pm Central Time. The conference call can be accessed over the Internet or replayed at your convenience at the following address.

http://www.videonewswire.com/event.asp?id=43414

For additional information, contact Dan Tonissen at (512) 314-2289.

EZCORP, Inc.
Highlights of Consolidated Statements of Operations (Unaudited)
(in thousands, except per share data)

		Three Months Ended September 30,
		2007			2006
1	Revenues:
2	Merchandise sales	$	33,101		$	30,022
3	Jewelry scrapping sales		18,198			16,804
4	Pawn service charges		22,055			18,337
5	Signature loan fees		30,215			21,891
6	Other		323			301
7	Total revenues		103,892			87,355
8	Cost of goods sold:
9	Cost of merchandise sales		19,598			18,044
10	Cost of jewelry scrapping sales		12,791			11,133
11	Total cost of goods sold		32,389			29,177
12	Net revenues		71,503			58,178
13
14	Operations expense		34,515			29,643
15	Signature loan bad debt		9,422			5,835
16	Administrative expense		8,221			7,402
17	Depreciation and amortization		2,618			2,208
18	Operating income		16,727			13,090
19
20	Interest income		(155	)		(237	)
21	Interest expense		67			45
22	Equity in net income of unconsolidated affiliate		(760	)		(688	)
23	Loss on sale/disposal of assets		59			55
24	Income before income taxes		17,516			13,915
25	Income tax expense		6,361			4,747
26	Net income	$	11,155		$	9,168
27
28	Net income per share, diluted	$	0.26		$	0.21
29
30	Weighted average shares, diluted		43,215			42,909

EZCORP, Inc.
Highlights of Consolidated Statements of Operations (Unaudited)
(in thousands, except per share data)

		Year Ended September 30,
		2007			2006
1	Revenues:
2	Merchandise sales	$	141,094		$	134,326
3	Jewelry scrapping sales		51,893			43,098
4	Pawn service charges		73,551			65,325
5	Signature loan fees		104,347			71,840
6	Other		1,330			1,263
7	Total revenues		372,215			315,852
8	Cost of goods sold:
9	Cost of merchandise sales		83,501			78,459
10	Cost of jewelry scrapping sales		34,506			28,414
11	Total cost of goods sold		118,007			106,873
12	Net revenues		254,208			208,979
13
14	Operations expense		128,602			111,738
15	Signature loan bad debt		28,508			17,897
16	Administrative expense		31,749			27,749
17	Depreciation and amortization		9,812			8,610
18	Operating income		55,537			42,985
19
20	Interest income		(1,654	)		(520	)
21	Interest expense		281			441
22	Equity in net income of unconsolidated affiliate		(2,945	)		(2,433	)
23	Gain on sale/disposal of assets		(72	)		(7	)
24	Income before income taxes		59,927			45,504
25	Income tax expense		22,053			16,245
26	Net income	$	37,874		$	29,259
27
28	Net income per share, diluted	$	0.88		$	0.69
29
30	Weighted average shares, diluted		43,230			42,264

EZCORP, Inc.
Highlights of Consolidated Balance Sheets (Unaudited)
(in thousands, except per share data and store counts)

		As of September 30,
		2007		2006
1	Assets:
2	Current assets:
3	Cash and cash equivalents	$	22,533	$	29,939
4	Pawn loans		60,742		50,304
5	Payday loans, net		4,814		2,443
6	Pawn service charges receivable, net		10,113		8,234
7	Signature loan fees receivable, net		5,992		4,380
8	Inventory, net		37,942		35,616
9	Deferred tax asset		8,964		7,150
10	Federal income taxes receivable		—		35
11	Prepaid expenses and other assets		6,146		3,907
12	Total current assets		157,246		142,008
13
14	Investment in unconsolidated affiliate		35,746		19,275
15	Property and equipment, net		33,806		29,447
16	Deferred tax asset, non-current		4,765		3,749
17	Goodwill		16,211		768
18	Other assets, net		3,412		2,611
19	Total assets	$	251,186	$	197,858
20	Liabilities and stockholders’ equity:
21	Current liabilities:
22	Accounts payable and other accrued expenses	$	25,592	$	22,579
23	Customer layaway deposits		1,988		1,890
24	Federal income taxes payable		4,795	—
25	Total current liabilities		32,375		24,469
26
27	Deferred gains and other long-term liabilities		2,886		3,249
28	Total stockholders’ equity		215,925		170,140
29	Total liabilities and stockholders’ equity	$	251,186	$	197,858
30
31	Pawn loan balance per ending pawn store	$	204	$	180
32	Inventory per ending pawn store	$	127	$	127
33	Book value per share	$	5.23	$	4.20
34	Tangible book value per share	$	4.77	$	4.13
35	EZPAWN store count — end of period		298		280
36	EZMoney signature loan store count — end of period		433		334
37	Shares outstanding — end of period		41,306		40,485

EZCORP, Inc.
Operating Segment Results (Unaudited)
(in thousands, except store counts)

		EZPAWN		EZMONEY
		Operations		Operations		Consolidated
	Three months ended September 30, 2007:
1	Revenues:
2	Sales	$	51,299	$	—	$	51,299
3	Pawn service charges		22,055		—		22,055
4	Signature loan fees		828		29,387		30,215
5	Other		323		—		323
6	Total revenues		74,505		29,387		103,892
7
8	Cost of goods sold		32,389		—		32,389
9	Net revenues		42,116		29,387		71,503
10
11	Operating expenses:
12	Operations expense		22,671		11,844		34,515
13	Signature loan bad debt		347		9,075		9,422
14	Total direct expenses		23,018		20,919		43,937
15	Store operating income	$	19,098	$	8,468	$	27,566
16
17	EZPAWN store count — end of period		298		—		298
18	EZMoney signature loan store count — end of period		6		427		433
19
20	Three months ended September 30, 2006:
21	Revenues:
22	Sales	$	46,826	$	—	$	46,826
23	Pawn service charges		18,337		—		18,337
24	Signature loan fees		971		20,920		21,891
25	Other		301		—		301
26	Total revenues		66,435		20,920		87,355
27
28	Cost of goods sold		29,177		—		29,177
29	Net revenues		37,258		20,920		58,178
30
31	Operating expenses:
32	Operations expense		21,453		8,190		29,643
33	Signature loan bad debt		387		5,448		5,835
34	Total direct expenses		21,840		13,638		35,478
35	Store operating income	$	15,418	$	7,282	$	22,700
36
37	EZPAWN store count — end of period		280		—		280
38	EZMoney signature loan store count — end of period		6		328		334

EZCORP, Inc.
Operating Segment Results (Unaudited)
(in thousands, except store counts)

		EZPAWN		EZMONEY
		Operations		Operations		Consolidated
	Year ended September 30, 2007:
1	Revenues:
2	Sales	$	192,987	$	—	$	192,987
3	Pawn service charges		73,551		—		73,551
4	Signature loan fees		3,314		101,033		104,347
5	Other		1,330		—		1,330
6	Total revenues		271,182		101,033		372,215
7
8	Cost of goods sold		118,007		—		118,007
9	Net revenues		153,175		101,033		254,208
10
11	Operating expenses:
12	Operations expense		87,555		41,047		128,602
13	Signature loan bad debt		1,390		27,118		28,508
14	Total direct expenses		88,945		68,165		157,110
15	Store operating income	$	64,230	$	32,868	$	97,098
16
17	EZPAWN store count — end of period		298		—		298
18	EZMoney signature loan store count — end of period		6		427		433
19
20	Year ended September 30, 2006:
21	Revenues:
22	Sales	$	177,424	$	—	$	177,424
23	Pawn service charges		65,325		—		65,325
24	Signature loan fees		3,155		68,685		71,840
25	Other		1,263		—		1,263
26	Total revenues		247,167		68,685		315,852
27
28	Cost of goods sold		106,873		—		106,873
29	Net revenues		140,294		68,685		208,979
30
31	Operating expenses:
32	Operations expense		84,830		26,908		111,738
33	Signature loan bad debt		1,286		16,611		17,897
34	Total direct expenses		86,116		43,519		129,635
35	Store operating income	$	54,178	$	25,166	$	79,344
36
37	EZPAWN store count — end of period		280		—		280
38	EZMoney signature loan store count — end of period		6		328		334