CLEARWATER, Fla. — Fueled by strengthening revenue, Nicholas Financial finished its 2011 fiscal year by extending its string of record net earnings, figures that included quarter-over-quarter and year-over-year gains of more than 45 percent.

Company officials revealed that for the quarter that ended March 31, their net earnings increased 46 percent to $4,772,000 as compared to $3,260,000 in the year-ago quarter.

Nicholas Financial's per share diluted net earnings increased 43 percent to 40 cents as compared to 28 cents during the last quarter of its 2010 fiscal year.

Sparking that jump was the company's 13-percent spike in revenue to $16,095,000. To finish its 2010 fiscal year, Nicholas Financial posted $14,256,000 in fourth-quarter revenue.

The fourth-quarter performance helped the company report healthy results for the entire fiscal year.

Nicholas Financial calculated that its full-year net earnings soared 55 percent higher to $16,805,000. A year earlier, its net earnings amount was $10,865,000.

Looking at per share diluted net earnings, officials computed a 52-percent rise to $1.41 as compared to 93 cents for the 2010 fiscal year.

Nicholas Financial's 2011 fiscal year revenue increased 11 percent to $62,774,000. A year earlier, the company's revenue came in at $56,472,000.

"Our strong growth in earnings per share for the fourth quarter and year ended March 31, 2011 were favorably impacted by the revenue contribution from new branches and a reduction in the net charge-off rate," explained Peter Vosotas, chairman and chief executive officer of Nicholas Financial. "We reported record revenues and earnings every quarter this year."

As Vosotas referenced, the company reduced its net charge-off percentage from 7.37 percent down to 4.65 percent.

Also as mentioned, the company opened six new branch offices in the past year and entered into two new states with locations in Chicago and St. Louis.

With a record fiscal year wrapped up, Nicholas Financial is being aggressive toward expanding further.

"We expect to add four to eight new branches during the upcoming year and will also continue to pursue buy-side opportunities as they arise," Vosotas shared.