EZCORP (EZPW) 8-K Ezcorp Reports 17% Increase In Net Income

Exhibit 99.1

EZCORP REPORTS 17% INCREASE IN NET INCOME

Completes key strategic investments in Mexico and the U.K.

Revises full-year EPS guidance down 6% due to U.S. Pawn inventory shift

AUSTIN, Texas (April 19, 2012) – EZCORP, Inc. (NASDAQ: EZPW), a leading provider of instant cash solutions for consumers, today announced results for its second fiscal quarter ended March 31, 2012. For the quarter, net income was $37.3 million, a 17% increase over the prior year’s quarter, and diluted earnings per share were $0.73, a 16% increase over the prior year. During the quarter, the Company completed the acquisition of 60% of Crediamigo, one of the largest and fastest growing providers of payroll deduction loans in Mexico. Since the end of the quarter, the Company has completed the acquisition of 72% of Cash Genie, a leading provider of online loans in the United Kingdom. The Company incurred costs associated with acquisitions of $2.0 million ($0.03 per share) in the quarter.

The Company also announced it is revising its fiscal 2012 earnings guidance to a range of $2.85 to $2.95 per share, about 6% lower than the previous guidance. The mid-point of this range represents an increase of 13% over fiscal 2011 earnings per share, non-GAAP, and 19% on a GAAP basis. This revision in guidance is due to slightly slower than expected growth rates in the U.S. pawn business for both loans and sales (including scrap sales) as a result of customers’ using a greater proportion of general merchandise instead of gold to satisfy their immediate cash needs. The effect of this shift will be to slow inventory turns, place downward pressure on margin rates and delay income into next year. The Company expects to continue to grow its same store loan balances and sales in the low-to-mid single digits for the rest of fiscal 2012.

Commenting on the quarter’s results, EZCORP’s President and Chief Executive Officer, Paul Rothamel, said “While we are very pleased with consolidated net income growth of 17% for the quarter and 15% for the first half, particularly given the strategic transactions we recently closed, we expect earnings growth in the back half of the year to be slightly slower than we originally expected. Nevertheless, the fundamentals of all our cash solutions businesses, including our inventory and loan yields, remain strong and we are filling the pipeline with new stores, new products, and additional talent.”

Consolidated Financials – Three months ended March 31, 2012 versus the prior year quarter:

• Net income of $37.3 million, up 17%.

• Diluted earnings per share of $0.73, up 16%.

• Total revenues of $256.3 million, up 20%.

• Net revenues of $161.6 million, up 23%.

• Consolidated operating income of $55.7 million, up 24%.

• Combined loan balances (pawn and consumer loans, including CSO) at quarter end were $219.1 million, up 57%. Excluding Crediamigo, loan balances were $156.5M, up 12%.

• Cash and cash equivalents at quarter-end were $47.5 million, with debt of $132.4 million. Crediamigo had third party debt outstanding of $94.6 million, all of which is non-recourse to EZCORP.

Key Operating Segment Metrics – Three months ended March 31, 2012 versus the prior year quarter:

• U.S. & Canada:

• Total revenue was $229.4 million, up 14% in total and 4% on a same store basis.

• Total sales increased 16% to $134.9 million, with margin improving 90 basis points to 41%. Same store sales were up 2%.

• Pawn service charges increased 17% to $50.5 million, up 9% on a same store basis.

• Consumer loan fees increased 6% to $42.8 million, up 3% on a same store basis.

• Consumer loan bad debt as a percentage of fees improved 45 bps to 14%.

• Segment contribution increased 16% to $64.9 million.

• Pawn loan balance was $108.8 million at quarter end, up 12% in total and 6% on a same store basis.

• Combined loan balances (pawn and consumer loans, including CSO) at quarter end were $142.9 million, up 9%.

• Latin America :

• Total revenue was $26.7 million, up 110% in total and 9% on a same store basis.

• Total sales increased 47% to $13.3 million. Same store sales were up 4%.

• Pawn service charges increased 61% to $5.9 million, up 20% on a same store basis.

• Consumer loan fees were $7.4 million.

• Consumer loan bad debt as a percentage of fees was 7%.

• Segment contribution increased to $1.3 million, with an improvement in margin from -1% to 5%.

• Crediamigo recorded net revenue of $6.9 million and net income attributable to EZCORP of $0.2 million for the two months ended March 31, 2012.

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Growth Drivers

• U.S. & Canada:

• Acquired 15 stores during the quarter and opened eight new de novo locations, bringing the total number of Company-owned stores to 970 at quarter end. In the first half of fiscal 2012, the Company has added 48 stores (40 acquired and eight de novo) in the U.S. and Canada, and is now a leader in 48 markets across the U.S. and Canada. The Company now offers instant cash solutions in 24 U.S. states and, including franchises, five Canadian provinces.

• On April 13, completed the acquisition of nine pawn stores in the Minneapolis metropolitan area, where the Company had not previously had a presence. The Company now operates pawn shops in 19 U.S. states, up six from this time last year.

• Converted nine CASHMAX stores to the Cash Converters brand. At quarter end, 35 of the 67 Company-owned stores in Canada operated under the Cash Converters brand, with an additional 12 Cash Converters stores managed by franchisees.

• Latin America:

• Empeño Fácil opened 13 stores during the quarter and 27 for the first half, bringing total store count to 205. Of these, 153 are full size, full service stores.

• Empeño Fácil opened its first store in Monterrey, Mexico and now operates in 30 of 55 principal metro areas in Mexico and in 17 of 31 Mexican states primarily in the central and southern part of the country.

• On January 30, 2012, the Company closed its acquisition of a 60% interest in Crediamigo, marking EZCORP’s first entry into unsecured lending in Mexico. Crediamigo offers loans with typical APRs of around 85% and collects interest and principal through payroll deductions. The average loan is approximately $1,200 with a term of 27 months. Crediamigo has approximately 170 payroll withholding agreements with Mexican employers, primarily government and state agencies, with potential access to over 3 million employees. At March 31, 2012, Crediamigo’s loan portfolio totaled $68.4 million and the company had $94.6 million of third party debt (non-recourse to EZCORP).

• Other International:

• On April 13, the Company acquired 72% of the shares in Artiste Holding Limited, which provides online loans in the U.K. under the name “Cash Genie.” Cash Genie significantly accelerates EZCORP’s online strategy in the U.K., and EZCORP’s existing U.K. online lending operations, most of which are outsourced, will be rolled into Cash Genie. Founded in 2009 and based in Ipswich, England, Cash Genie is one of the top 10 largest online lenders in the U.K. It currently has back office and collections functions based in the Philippines, and expects to

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launch online lending in Finland in May. The company offers unsecured 30-day cash advance loans from $120 to $1,200 with an average loan of $230. The company has 300,000 customers with almost 70,000 loans outstanding and a net loan balance of $17.6 million at the end of February.

Company Outlook

Commenting on the Company’s outlook, Mr. Rothamel stated: “We believe that we are well positioned to continue our very strong growth. The consumer demand for our products in the U.S., Mexico, and Canada, as well as the rest of the world is expanding. The combination of our large and rapidly growing U.S. businesses, accelerated growth in Mexico through Empeño Fácil and Crediamigo, our U.K. investments in Cash Genie and Albemarle & Bond, and our Cash Converters investments in Australia, the U.K. and Canada position us well for rapid, diversified growth around the world.”

About EZCORP

EZCORP is a leading provider of instant cash solutions for consumers. Through more than 1,200 company-operated pawn, buy/sell and personal financial services stores in the U.S., Mexico and Canada, we provide a variety of instant cash solutions, including pawn loans, consumer loans, and fee-based credit services to customers seeking loans. At our pawn and buy/sell stores, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.

EZCORP owns controlling interests in Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. (doing business under the name “Crediamigo”), a leading provider of payroll deduction loans in Mexico, and in Artiste Holding Limited (doing business under the name “Cash Genie”), a leading provider of online loans in the U.K. The company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.’s largest pawnbroking businesses with over 170 full-line stores offering pawnbroking, jewelry retailing, gold buying and financial services; and in Cash Converters International Limited (CCV.L and CCV.ASX), which franchises and operates a worldwide network of over 600 stores that provide personal financial services and sell pre-owned merchandise.

Special Note Regarding Forward-Looking Statements

This announcement contains certain forward-looking statements regarding the Company’s expected operating and financial performance for future periods, including expected future earnings and growth rates. These statements are based on the Company’s current expectations. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including changes in the regulatory environment, changing market conditions in the overall economy and the industry, fluctuations in gold prices or the desire of our customers to pawn or sell their gold items, and consumer demand for the Company’s services and merchandise. For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission.

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Use of Non-GAAP Financial Measures

In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company has provided non-GAAP net income and non-GAAP earnings per share for fiscal 2011. The only difference between the presented non-GAAP measures and the most closely comparable GAAP measures is the exclusion of a one-time charge related to the retirement of the Company’s former Chief Executive Officer and the related tax benefit included in the quarter ended December 31, 2010. The Company’s management uses these non-GAAP financial measures to understand its financial performance from period to period. Management does not believe that the excluded one-time charge is reflective of underlying operating performance. The non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the corresponding GAAP measures, but rather are provided to facilitate an enhanced understanding of the Company’s actual and expected performance and to enable more meaningful period-to-period comparisons. A reconciliation of the non-GAAP financial measures to the most closely comparable GAAP financial measures is provided in the accompanying financial schedules.

EZCORP Investor Relations

(512) 314-2220

Investor_Relations@ezcorp.com

www.ezcorp.com

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EZCORP, Inc.

Highlights of Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data and percents)

	Three Months Ended March 31,						Six Months Ended March 31,
	2012			2011			2012			2011
Revenues:
Merchandise sales	$	94,997		$	77,773		$	181,891		$	149,653
Jewelry scrapping sales		53,175			47,995			109,578			98,660
Pawn service charges		56,444			46,769			116,236			96,579
Consumer loan fees		50,319			40,472			95,407			86,782
Other		1,343			245			2,039			406
Total revenues		256,278			213,254			505,151			432,080
Cost of goods sold:
Cost of merchandise sales		55,880			44,639			104,276			85,950
Cost of jewelry scrapping sales		32,310			31,925			67,734			64,180
Total cost of goods sold		88,190			76,564			172,010			150,130
Bad debt:
Consumer loan bad debt		6,466			5,740			17,491			16,768
Net revenue		161,622			130,950			315,650			265,182
Operations expense		77,269			66,045			151,770			130,549
Administrative expense		21,353			15,733			41,064			41,871
Depreciation and amortization		7,259			4,466			12,514			8,645
(Gain) / loss on sales / disposal of assets		27			(178	)		(174	)		(171	)
Operating income		55,714			44,884			110,476			84,288
Interest income		(314	)		(11	)		(353	)		(14	)
Interest expense		2,560			300			3,150			600
Equity in net income of unconsolidated affiliates		(4,577	)		(4,691	)		(8,738	)		(8,058	)
Other		802			4			(317	)		(57	)
Income before income taxes		57,243			49,282			116,734			91,817
Income tax expense		19,870			17,444			40,009			32,550
Net income		37,373			31,838			76,725			59,267
Attributable to noncontrolling interest		112			—			112			—
Net income attributable to EZCORP, Inc.	$	37,261		$	31,838		$	76,613		$	59,267
Net income per share, diluted	$	0.73		$	0.63		$	1.51		$	1.18
Weighted average shares, diluted		51,069			50,362			50,887			50,243

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EZCORP, Inc.

Highlights of Consolidated Balance Sheets

(in thousands)

	March 31, (unaudited)				September 30,
	2012		2011		2011
Assets:
Current assets:
Cash and cash equivalents	$	47,499	$	59,785	$	23,969
Pawn loans		122,305		106,525		145,318
Consumer loans, net		23,998		11,948		14,611
Pawn service charges receivable, net		22,296		19,976		26,455
Consumer Loan fees receivable, net		24,551		6,026		6,775
Inventory, net		87,891		70,275		90,373
Deferred tax asset		18,228		23,319		18,125
Federal income tax receivable		2,391		1,427		—
Prepaid expenses and other assets		34,443		20,045		30,611
Total current assets		383,602		319,326		356,237
Investments in unconsolidated affiliates		120,056		112,364		120,319
Property and equipment, net		95,046		70,105		78,498
Goodwill		320,692		143,404		173,206
Intangible assets, net		38,904		16,122		19,790
Non-current consumer loans, net		52,740		—		—
Other assets, net		18,129		7,572		8,400
Total assets	$	1,029,169	$	668,893	$	756,450
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable and other accrued expenses	$	75,865	$	44,754	$	57,400
Current maturities of long-term debt		7,224		10,000		—
Customer layaway deposits		7,193		6,844		6,176
Federal income taxes payable		—		—		693
Total current liabilities		90,282		61,598		64,269
Long-term debt, less current maturities		125,131		10,000		17,500
Deferred tax liability		9,507		1,192		8,331
Deferred gains and other long-term liabilities		14,423		2,314		2,102
Total liabilities		239,343		75,104		92,202
EZCORP, Inc. stockholders’ equity		755,718		593,789		664,248
Noncontrolling interest		34,108		—		—
Total stockholders’ equity		789,826		593,789		664,248
Total liabilities and stockholders’ equity	$	1,029,169	$	668,893	$	756,450

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EZCORP, Inc.

Operating Segment Results (Unaudited)

(In thousands)

	Three Months Ended March 31, 2012
	U.S. & Canada		Latin America		Other International			Consolidated
Revenues:
Merchandise sales	$	85,498	$	9,499	$	—		$	94,997
Jewelry scrapping sales		49,414		3,761		—			53,175
Pawn service charges		50,505		5,939		—			56,444
Consumer loan fees		42,806		7,383		130			50,319
Other		1,219		124		—			1,343
Total revenues		229,442		26,706		130			256,278
									—
Merchandise cost of goods sold		50,499		5,381		—			55,880
Jewelry scrapping cost of goods sold		29,537		2,773		—			32,310
Consumer loan bad debt		5,878		508		80			6,466
Net revenues		143,528		18,044		50			161,622
Operating expenses:
Store operations		68,890		8,211		168			77,269
Administrative		5,424		4,334		2			9,760
Depreciation		3,382		842		14			4,238
Amortization		142		1,555		—			1,697
Loss on sale/disposal of assets		25		2		—			27
Interest, net		—		1,769		—			1,769
Equity in net income of unconsolidated affiliates		—		—		(4,577	)		(4,577	)
Other		791		11		—			802
Segment contribution	$	64,874	$	1,320	$	4,443		$	70,637
Corporate expenses									13,394
Income before taxes									57,243
Income tax expense									19,870
Net income								$	37,373
Net income attributable to noncontrolling interest									112
Net income attributable to EZCORP, Inc.								$	37,261

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EZCORP, Inc.

Operating Segment Results (Unaudited)

(In thousands)

	Three Months Ended March 31, 2011
	U.S. & Canada			Latin America			Other International			Consolidated
Revenues:
Merchandise sales	$	72,420		$	5,353		$	—		$	77,773
Jewelry scrapping sales		44,351			3,644			—			47,995
Pawn service charges		43,073			3,696			—			46,769
Consumer loan fees		40,472			—			—			40,472
Other		220			25			—			245
Total revenues		200,536			12,718			—			213,254
											—
Merchandise cost of goods sold		41,484			3,155			—			44,639
Jewelry scrapping cost of goods sold		28,848			3,077			—			31,925
Consumer loan bad debt		5,740			—			—			5,740
Net revenues		124,464			6,486			—			130,950
Operating expenses:
Store operations		61,196			4,849			—			66,045
Administrative		4,407			1,079			27			5,513
Depreciation		2,764			578			—			3,342
Amortization		121			100			—			221
Gain on sale/disposal of assets		(178	)		—			—			(178	)
Interest, net		—			1			—			1
Equity in net income of unconsolidated affiliates		—			—			(4,691	)		(4,691	)
Other		3			1			—			4
Segment contribution	$	56,151		$	(122	)	$	4,664		$	60,693
Corporate expenses											11,411
Income before taxes											49,282
Income tax expense											17,444
Net income										$	31,838
Net income attributable to noncontrolling interest											—
Net income attributable to EZCORP, Inc.										$	31,838

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EZCORP, Inc.

Operating Segment Results (Unaudited)

(In thousands)

	Six Months Ended March 31, 2012
	U.S. & Canada			Latin America		Other International			Consolidated
Revenues:
Merchandise sales	$	162,050		$	19,841	$	—		$	181,891
Jewelry scrapping sales		102,280			7,298		—			109,578
Pawn service charges		104,875			11,361		—			116,236
Consumer loan fees		87,818			7,383		206			95,407
Other		1,795			244		—			2,039
Total revenues		458,818			46,127		206			505,151
										—
Merchandise cost of goods sold		93,950			10,326		—			104,276
Jewelry scrapping cost of goods sold		62,687			5,047		—			67,734
Consumer loan bad debt		16,768			508		215			17,491
Net revenues		285,413			30,246		(9	)		315,650
Operating expenses:
Store operations		137,215			14,209		346			151,770
Administrative		11,871			5,629		422			17,922
Depreciation		6,499			1,522		36			8,057
Amortization		272			1,652		—			1,924
(Gain)/loss on sale/disposal of assets		(175	)		1		—			(174	)
Interest, net		4			1,733		—			1,737
Equity in net income of unconsolidated affiliates		—			—		(8,738	)		(8,738	)
Other		(269	)		16		(64	)		(317	)
Segment contribution	$	129,996		$	5,484	$	7,989		$	143,469
Corporate expenses										26,735
Income before taxes										116,734
Income tax expense										40,009
Net income									$	76,725
Net income attributable to noncontrolling interest										112
Net income attributable to EZCORP, Inc.									$	76,613

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EZCORP, Inc.

Operating Segment Results (Unaudited)

(In thousands)

	Six Months Ended March 31, 2011
	U.S. & Canada			Latin America		Other International			Consolidated
Revenues:
Merchandise sales	$	138,725		$	10,928	$	—		$	149,653
Jewelry scrapping sales		91,554			7,106		—			98,660
Pawn service charges		89,509			7,070		—			96,579
Consumer loan fees		86,782			—		—			86,782
Other		378			28		—			406
Total revenues		406,948			25,132		—			432,080
										—
Merchandise cost of goods sold		79,681			6,269		—			85,950
Jewelry scrapping cost of goods sold		58,465			5,715		—			64,180
Consumer loan bad debt		16,768			—		—			16,768
Net revenues		252,034			13,148		—			265,182
Operating Expenses:
Store operations		121,422			9,127		—			130,549
Administrative		9,810			2,016		52			11,878
Depreciation		5,366			1,084		—			6,450
Amortization		236			197		—			433
(Gain)/loss on sale/disposal of assets		(172	)		1		—			(171	)
Interest, net		—			2		—			2
Equity in net income of unconsolidated affiliates		—			—		(8,058	)		(8,058	)
Other		3			1		(61	)		(57	)
Segment contribution	$	115,369		$	720	$	8,067		$	124,156
Corporate expenses										32,339
Income before taxes										91,817
Income tax expense										32,550
Net income									$	59,267
Net income attributable to noncontrolling interest										—
Net income attributable to EZCORP, Inc.									$	59,267

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EZCORP, Inc.

Store Count Activity

	Three Months Ended March 31, 2012
	Company-owned Stores										Franchises
	U.S. & Canada			Latin America		Other International		Consolidated
Beginning of period		950			192		—		1,142			12
De novo		8			13				21			—
Acquired		15			45				60			—
Sold, combined or closed		(3	)						(3	)		—
End of period		970			250		—		1,220			12
	Six Months Ended March 31, 2012
	Company-owned Stores										Franchises
	U.S. & Canada			Latin America		Other International		Consolidated
Beginning of period		933			178		—		1,111			13
De novo		8			27				35			—
Acquired		40			45				85			—
Sold, combined or closed		(11	)						(11	)		(1	)
End of period		970			250		—		1,220			12

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Reconciliation of GAAP to Non-GAAP Results (Unaudited)

(in thousands, except per share data)

The following tables provide a reconciliation of the differences between the reported or projected non-GAAP financial measures for the periods indicated and the most comparable GAAP financial measures. The non-GAAP financial measures presented may not be directly comparable to similarly titled measures reported by other companies and their usefulness for such purposes are therefore limited. EZCORP management believes presentation of the non-GAAP financial measures enhances investors’ ability to analyze the Company’s operating results. However, non-GAAP financial measures are not an alternative to GAAP financial measures and should be read only in conjunction with financial measures presented on a GAAP basis.

	Six Months Ended March 31, 2012								Six Months Ended March 31, 2011
				Non-GAAP								Non-GAAP
	GAAP			Adjustments		Non-GAAP			GAAP			Adjustments			Non-GAAP
Net revenue	$	315,650			—	$	315,650		$	265,182			—		$	265,182
Operations expense		151,770			—		151,770			130,549			—			130,549
Administrative expense		41,064			—		41,064			41,871			(10,945	)		30,926
Depreciation and amortization		12,514			—		12,514			8,645			—			8,645
(Gain) / loss on sale/disposal of assets		(174	)		—		(174	)		(171	)		—			(171	)
Operating income		110,476			—		110,476			84,288			10,945			95,233
Interest income		(353	)		—		(353	)		(14	)		—			(14	)
Interest expense		3,150			—		3,150			600			—			600
Equity in net income of unconsolidated affiliates		(8,738	)		—		(8,738	)		(8,058	)		—			(8,058	)
Other		(317	)		—		(317	)		(57	)		—			(57	)
Income before income taxes		116,734			—		116,734			91,817			10,945			102,762
Income tax expense		40,009			—		40,009			32,550			3,831			36,381
Net income		76,725			—		76,725			59,267			7,114			66,381
Attributable to noncontrolling interest		112			—		112			—			—			—
Net income attributable to EZCORP, Inc.	$	76,613		$	—	$	76,613		$	59,267		$	7,114		$	66,381
Net income per share, diluted	$	1.51		$	—	$	1.51		$	1.18		$	0.14		$	1.32
Weighted average shares, diluted		50,887			—		50,887			50,243			—			50,243

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