QC HoldingsOverland Park, Kansas – QC Holdings Inc. has reported its third quarter earnings and has declared a dividend of five cents per share. This news comes from a press release issued by the company who derives a good portion of its earnings from payday loans and various other products aimed at low income customers.

 QC Holdings Inc. reported income from continuing operations of $2.1 million and revenues of $48.3 million for the quarter ended September 30, 2011. For the nine months ended September 30, 2011, income from continuing operations totaled $7.6 million and revenues were $138.1 million. The nine months ended September 30, 2011 includes $2.0 million in accrued costs ($1.2 million, net of income taxes) resulting from a tentative settlement of an outstanding legal matter.

“We were pleased to see revenue growth during the third quarter, largely driven by increases in our installment and title lending products,” said QC Chairman and Chief Executive Officer Don Early. “This improvement, however, was offset by a higher loss ratio quarter-to-quarter, largely due to the transition to new products in connection with recent changes in lending laws in several states. Read full press release from Business Wire here.

More information about QC Holdings, Inc.

With its headquartered in Overland Park, Kansas, QC Holdings, Inc. is a large player in the short-term loans business in the United States and Canada. In the United States, QC Holdings offers various financial products, including payday loans, installment and title loans, check cashing services, debit cards and money transfers through 484 branches in 23 states as of September 30, 2011. In Canada, the company operates through its subsidiary Direct Credit Holdings Inc., and is involved in short term consumer Internet lending in some provinces. In addition, the company operates five buy here, pay here automotive dealerships in the Kansas City metropolitan area. During fiscal 2010, the company loaned about $1.0 billion to customers and had reported total revenues of $188.1 million.

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