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UPDATE 1-World Acceptance Q4 profit beats Wall Street view

Thu Apr 24, 2008 7:05am EDT

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April 24 (Reuters) - Consumer finance company World Acceptance Corp (WRLD.O) reported quarterly profit above Wall Street estimates, helped by increase in demand for its tax preparation services.

The fourth-quarter net income rose 16 percent to $24.4 million, or $1.44 a share from $21.0 million, or $1.17 a share.

Total revenue rose 16 percent to $101.4 million.

Analysts expected the company to earn $1.38 a share on revenue of $102.1 million, according to Reuters Estimates.

Net fees from tax preparation services rose 18 percent to $9.1 million.

The results for the quarter also benefited from the large seasonal loan growth that the company had recorded in the third quarter.

Shares of the Greenville, South Carolina-based company company, which have risen about 50 percent in the last three months, closed at $34.45 on Nasdaq Wednesday. (Reporting by Sweta Singh; Editing by Anil D'Silva)

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