Nicholas Financial Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2009. For quarter, the company reported net earnings, excluding changes in fair value of interest rate swaps increased 189% to $2,286,000 as compared to $792,000 for the three months ended September 30, 2008. Per share diluted net earnings, excluding changes in fair value of interest rate swaps, increased 175% to $0.22 for the three months ended September 30, 2009 as compared to $0.08 for the three months ended September 30, 2008. Operating income before income taxes was $3.9 million compared to $1.3 million for the same period a year ago. Revenue increased 5% to $14,158,000 for the three months ended September 30, 2009 as compared to $13,505,000 for the three months ended September 30, 2008. For the six months ended September 30, 2009, net earnings, excluding changes in fair value of interest rate swaps increased 86% to $4,367,000 as compared to $2,350,000 for the six months ended September 30, 2008. Per share diluted net earnings, excluding changes in fair value of interest rate swaps, increased 78% to $0.41 for the six months ended September 30, 2009 as compared to $0.23 for the six months ended September 30, 2008. Operating income before income taxes was $7.6 million compared to $3.8 million for the same period a year ago. Revenue increased 5% to $27,851,000 for the six months ended September 30, 2009 as compared to $26,624,000 for the six months ended September 30, 2008.

Nicholas Financial Inc. announced that for the three months ended September 30, 2009, net earnings, excluding changes in fair value of interest rate swaps increased 189% to $2,286,000 as compared to $792,000 for the three months ended September 30, 2008. Per share diluted net earnings, excluding changes in fair value of interest rate swaps, increased 175% to $0.22 for the three months ended September 30, 2009 as compared to $0.08 for the three months ended September 30, 2008. Peter L. Vosotas, Chairman and CEO of the firm said, �The Company continues to evaluate additional markets for future branch locations, and subject to market conditions, could open additional branch locations during the remainder of the Company's fiscal year which ends March 31, 2010. The Company remains open to acquisitions should an opportunity present itself.�

Nicholas Financial Inc. announced the opening of a new branch office located in Akron, Ohio. The new location continues the Company's planned expansion of its branch office network, which now includes, forty-nine (49) offices in Florida, Georgia, North Carolina, South Carolina, Virginia, Ohio, Michigan, Maryland, Kentucky, Indiana, Alabama and Tennessee. Each of the offices is a full-service lending and collection facility. Nicholas employees have been working to develop business in the Akron area for several months prior to the opening of the new location. The new Akron office is the third (3rd) Nicholas Financial branch established in the greater Cleveland area and the seventh in the state of Ohio. The Company will continue to evaluate potential branch locations in both new and existing markets. Nicholas Financial acquires and services automobile and light truck installment sales contracts that it purchases from over 1,500 new and used car dealers.