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Spartanburg-based Advance America earnings surge

The company said its net income jumped to $8.6 million, compared with $5.1 million for the same quarter of 2010. For the first six months of the year, Advance America’s earnings were up to $26.6 million, a nearly 43 percent increase from $18.6 million during the same period last year.

Advance America officials attributed the “solid” quarter to the company’s center consolidation efforts, better operating performance and a rise in consumer demand for its short-term credit products.

“We continue to provide reliable and affordable financial services to our customers, who are reporting exceptionally high satisfaction ratings with our company,” said Advance America’s President and CEO J. Patrick O’Shaughnessy. “We remain deeply committed to our core business principles of quality customer service and efficient operations, which we believe will effectively position the company to yield growth for our shareholders in the future.”

The company said its total revenue decreased slightly during the quarter to $140.7 million, compared with $141.4 million for the same quarter last year.

For the year, revenues fell to $284.8 million, compared with $285.8 million during the first six months of 2010.

Those comparisons included the results of operations in Arizona, Colorado, Illinois, Virginia, Washington and Wisconsin, states where regulatory changes impacted the company’s profitability over the past year.

Revenues in those six states were $10.7 million for the second quarter, compared with $20.2 million during the same quarter of 2010. Total revenues for Advance America centers opened prior to April 1, 2010, and still open as of June 30, increased 3.8 percent, compared with the same period last year, the company said.

“Customers still appreciate the transparency, simplicity and convenience of our short-term credit products,” Advance America spokesman Jamie Fulmer said. “We spend a lot of time listening to our customers. They have responded with overwhelming satisfaction for our products and services.”

Advance America’s cash flow from operations for the first half of the year increased nearly 57 percent to $64.9 million, compared with $41.4 million for the same period of 2010.

The company said its provision for doubtful accounts increased slightly during the second quarter and first half of the year to 14.4 percent and 19.4 percent, respectively, compared with 13.2 percent and 17.7 percent in 2010.

Escape for the Summer: Wisconsin | Cash Advance by CoreLogic

Summertime can be expensive, and with the new school-year on the horizon, there’s bound to be more expenses for your family. During summer break, people are more likely to spend money and indulge, even if they’re not going to school and still working. There are barbecues, lazy days by the pool, beach vacations, summer festivals, and it all begins to add up. Hopefully you’ve managed to have fun and still keep an eye on your checkbook.

If you’ve found that you can’t afford necessities for the school-year, you should consider a quick cash loan . Cash advances are more accessible than loans from your bank because eligibility isn’t determined by your credit score , and you can receive it within 24 hours of applying. If you find yourself in need of a loan, learn about your options using our cash advance directory .

All this talk of the upcoming fall season is a bit premature- we still have a few more weeks of summer to enjoy! If you’ve budgeted wisely this year, hopefully you’ve set aside money for a family vacation. Wisconsin , in the heart of the Midwest, has many sites and attractions that you and your family will enjoy.

Madison is the capital of Wisconsin and is informally nicknamed “The Berkeley of the Midwest” for its progressive politics and hippy vibe. It’s located on the edge of Lake Mendota, and the University of Wisconsin attracts many students, scholars, and international visitors. Your trip to Madison would be enjoyable if you just roamed the city and explored its bars, galleries, and campus events. Just outside of Madison is Dr. Evermore’s Sculpture Park , where the “Dr.” Tom Every displays his welding masterpieces of futuristic creatures and structures. One of his sculptures, the egg-shaped Forevertron, was named by Guinness as the world’s largest scrap-metal sculpture.

Milwaukee is another city that can’t be missed if you’re visiting Wisconsin. Tourists can get a healthy dose of Americana by visiting the Harley Davidson Motorcycle Museum , which is family-friendly and entertaining for non-motorcycle enthusiasts as well as seasoned riders. It tells the story of Harley Davidson Motorcycles throughout history, and has a collection of motorcycles that includes Elvis Presley’s motorcycle! You can also design your own motorcycle with one of their interactive features.

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