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I’m looking through Nicholas Financial's (NASDAQ:NICK) earnings report and the numbers are very strong. For the calendar year, NICK earned $1.18 per share. That’s outstanding.

Even if NICK merely maintains the 38 cents per share rate of this past quarter for all of 2011, then it’ll earn $1.52. That’s not even including the company's overall net portfolio yield of about 7%.

I always like how the company breaks down the numbers in its reports. You can check out this spreadsheet (Excel) for all the important numbers.

The story with NICK is that its portfolio has continued to do well, but the provision for credit losses took out such a large bite of the bottom line.

Here’s a look at NICK’s pre-tax earnings yield plus the credit losses. When you add them together, you can see that it’s been pretty stable.

[Click to enlarge]

Source: Breaking Down Nicholas Financial's Earnings

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