SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): March 9, 2004
First Cash Financial Services, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-19133 75-2237318
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(Commission File Number) (IRS Employer Identification No.)
690 East Lamar Blvd., Suite 400, Arlington, Texas 76011
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(Address of principal executive offices, including zip code)
(817) 460-3947
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(Registrant's telephone number, including area code)
Item 5. Other Events
On March 9, 2004, the Board of Directors of First Cash Financial Services, Inc.
(the "Company") approved a three-for-two split of the Company's common stock in
the form of a common stock dividend. As a result of the stock split,
shareholders will receive one additional common share for every two shares held
on the record date of March 22, 2004. Upon completion of the split, the number
of common shares outstanding will be approximately 15.7 million. The additional
shares will be mailed or delivered on or about April 5, 2004, by the Company's
transfer agent, Registrar & Transfer Company. Fractional shares will be settled
in cash. The ex-split date is April 6, 2004, which is the date First Cash's
common shares will trade on Nasdaq at the new split-adjusted price. On March 12,
2004, First Cash Financial Services, Inc. issued a press release announcing the
stock split which is attached hereto as Exhibit 99.1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: March 15, 2004 FIRST CASH FINANCIAL SERVICES, INC.
(Registrant)
R. DOUGLAS ORR
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R. Douglas Orr
Chief Accounting Officer
2
Exhibit 99.1
First Cash Financial Services Announces Stock Split
ARLINGTON, Texas, March 12 /PRNewswire-FirstCall/ -- First Cash Financial
Services, Inc. (Nasdaq: FCFS) today announced that its Board of Directors
approved a three-for-two split of First Cash's common stock in the form of a
common stock dividend. As a result of the stock split, shareholders will
receive one additional common share for every two shares held on the record
date of March 22, 2004.
"Declaring a stock split demonstrates the Board's confidence in the
Company's long-term growth opportunities. The increased float and trading
liquidity will be beneficial to our existing shareholders and the split makes
First Cash stock even more attractive to a broader range of investors," said
Rick Powell, chairman and chief executive officer of the Company. The total
market capitalization of First Cash currently stands at approximately
$350 million.
Upon completion of the split, the number of common shares outstanding will
be approximately 15.7 million. The additional shares will be mailed or
delivered on or about April 5, 2004, by the Company's transfer agent,
Registrar & Transfer Company. Fractional shares will be settled in cash. The
ex-split date is April 6, 2004, which is the date First Cash's common shares
will trade on Nasdaq at the new split-adjusted price.
About First Cash
First Cash Financial Services, Inc. is engaged in the operation of pawn
and check cashing/short-term advance stores, which lend money on the
collateral of pledged personal property, retail previously-owned merchandise
acquired through loan forfeitures, and provide short-term loans, check cashing
and other financial services. The Company currently owns and operates 243
pawn and check cashing/short-term advance stores in eleven states and Mexico.
First Cash Financial Services is also an equal partner in Cash & Go, Ltd., a
joint venture, which owns and operates 40 financial services kiosks located
inside convenience stores. First Cash's common stock is traded on the Nasdaq
National Market under the ticker symbol "FCFS".
First Cash has been recognized for the second consecutive year by Forbes
Magazine as one of the "200 Best Small Companies." The 2003 ranking, which is
based on a combination of profitability and growth performance measures over
the most current one and five year periods, placed First Cash 73rd out of
3,500 companies evaluated by Forbes.
Forward-Looking Statements
This release may contain forward-looking statements about the business,
financial condition and prospects of First Cash Financial Services, Inc.
Forward-looking statements can be identified by the use of forward-looking
terminology such as "believes," "projects," "expects," "may," "estimates,"
"will," "should," "plans," "intends," or "anticipates" or the negative
thereof, or other variations thereon, or comparable terminology, or by
discussions of strategy. Forward-looking statements in this release include,
without limitation, the expected timing and results of a stock split. These
statements are made to provide the public with management's assessment of the
Company's business. Although the Company believes that the expectations
reflected in forward-looking statements are reasonable, there can be no
assurances that such expectations will prove to be accurate. Security holders
are cautioned that such forward-looking statements involve risks and
uncertainties. The forward-looking statements contained in this release speak
only as of the date of this statement, and the Company expressly disclaims any
obligation or undertaking to release any updates or revisions to any such
statement to reflect any change in the Company's expectations or any change in
events, conditions or circumstance on which any such statement is based.
Certain factors may cause results to differ materially from those anticipated
by some of the statements made in this release. Such factors are difficult to
predict and many are beyond the control of the Company, but may include
changes in regional, national or international economic conditions, the
ability to open and integrate new stores, the ability to maintain favorable
banking relationships as it relates to short-term lending products, changes in
governmental regulations, unforeseen litigation, changes in interest rates,
changes in tax rates or policies, changes in gold prices, changes in foreign
currency exchange rates, future business decisions, and other uncertainties.
SOURCE First Cash Financial Services, Inc.
-0- 03/12/2004
/CONTACT: Rick Wessel, President, or Doug Orr, Chief Financial Officer,
both of First Cash Financial Services, Inc., +1-817-460-3947, or
investorrelations@firstcash.com /
/Web site: http://www.firstcash.com /
(FCFS)
CO: First Cash Financial Services, Inc.
ST: Texas
IN: FIN REA
SU: DIV