Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

19. Quarterly Financial Data (Unaudited)

The Company’s operations are subject to seasonal fluctuations. Demand has historically been highest in the third and fourth quarters of each year, corresponding to the holiday season, and lowest in the first quarter of each year, corresponding to customers’ receipt of income tax refunds in the United States. Typically, the Company’s cost of revenue, which represents its loan loss provision, is lowest as a percentage of revenue in the first quarter of each year. This trend was not evident in 2014 as a result of regulatory changes in the United Kingdom that led to a decline in lending in that market. The following is a summary of the quarterly results of operations for the years ended December 31, 2014 and 2013 (in thousands, except per share data):

	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
2014
Total Revenue	$	208,465	$	201,482	$	205,168	$	194,722
Cost of Revenue		66,436		66,840		72,919		60,592
Gross Profit	$	142,029	$	134,642	$	132,249	$	134,130
Net Income	$	40,055	$	30,629	$	18,485	$	22,502
Diluted earnings per share ⁽¹⁾	$	1.21	$	0.93	$	0.56	$	0.68
Diluted weighted average common shares ⁽²⁾		33,000		33,000		33,000		33,031
2013
Total Revenue	$	182,312	$	176,143	$	198,098	$	208,770
Cost of Revenue		67,998		70,160		90,389		86,505
Gross Profit	$	114,314	$	105,983	$	107,709	$	122,265
Net Income	$	22,808	$	18,428	$	17,088	$	19,714
Diluted earnings per share ⁽¹⁾	$	0.69	$	0.56	$	0.52	$	0.60
Diluted weighted average common shares ⁽²⁾		33,000		33,000		33,000		33,000

(1)

The sum of the quarterly earnings per share amounts may not total to each full year amount presented in the Company’s financial statements because these computations are made independently for each quarter and for the full year and take into account the weighted average number of common shares outstanding for each period.

(2)	See Note 3 for Basis of Presentation.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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