Nicholas Financial Reports 1st Quarter Fiscal Year 2023 Results

CLEARWATER, Fla., July 29, 2022 (GLOBE NEWSWIRE) -- Nicholas Financial, Inc. (NASDAQ: NICK) announced a net loss for the three months ended June 30, 2022 of $1.8 million compared to net income of $1.7 million for the three months ended June 30, 2021. Diluted net loss per share was $0.24 for the three months ended June 30, 2022 as compared to diluted net income per share of $0.22 for the three months ended June 30, 2021. Interest and fee income on finance receivables decreased 4.2% to $12.1 million for the three months ended June 30, 2022 as compared to $12.6 million for the three months ended June 30, 2021. The Company total revenue included an unrealized loss of $0.8 million on equity investments in the three month ended June 30, 2022. The Company reported a loss before income taxes for the three months ended June 30, 2022 of $2.4 million compared to income before income taxes of $2.3 million for the three months ended June 30, 2021. The Company recorded an income tax benefit of approximately $0.6 million during the three months ended June 30, 2022 as compared to income tax expense of $0.6 million during the three months ended June 30, 2021.

Read more at globenewswire.com