Word: fiscal
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First Cash Financial recently raised earnings guidance for fiscal 2009 and 2010 to reflect higher than expected revenue from the company's pawnshop operations in the U.S. and Mexico. "Our fourth-quarter pawn revenues significantly exceeded our expectations," said Rick Wessel, the company's chief executive, in a statement. The revised projections imply earnings growth of 20% to 26% for the fourth quarter, up to 14% for fiscal 2009 and as much as 16% in fiscal 2010. (See the worst business deals...
...company's rivals are on track to post even bigger gains: Cash America and EZCorp are currently projecting earnings growth of up to 20% in fiscal 2010. The three companies' stocks improved in 2009 - Cash America climbed 28%, First Cash rose 16% and EZCorp was up 13% - and analysts expect the rally to continue this year. "You've got cheap stocks growing at 20% a year," says Coffey, "so the stage is set for a pretty good...
...capitalize on the cost savings to be gained by outsourcing noncore operations, such as systems programming and call centers, to specialists overseas. Focusing on the U.S. produced some spectacular results. Revenues in India's IT sector surged from $4 billion in 1998 to $59 billion in the country's fiscal year ended March 31. But recession has caused a dramatic deceleration as companies in the U.S. and Europe scale back technology spending. NASSCOM forecasts that the growth rate of India's exports of IT and other business services will drop to at most 7% in the current fiscal year, down...
...China. Although the U.S. still accounts for 60% of the export revenue of India's IT sector, emerging markets are growing faster. NASSCOM data show that the Indian IT sector's revenues from the Asia-Pacific region grew by a compounded 42% a year between the 2004 and 2008 fiscal years compared with 29% in the U.S. That's why management at Infosys is targeting a long-term restructuring of the company's revenue base, decreasing the U.S. share from the current 65% to 40%, while raising the proportion coming from the Middle East, Latin America and Asia from about...
...bulk up staff at a time when many are experiencing layoffs because of already strapped state budgets. "We would certainly argue that we're cut to the bone right now," says Kevin McCarty, head of Florida's Office of Insurance Regulation, which cut 14 positions in the 2009 fiscal year. New staff members could be charged with rooting out insurers who continue to cherry-pick healthy customers and making sure plans stay solvent despite the crush of new, previously uninsured customers...