CLEARWATER, Fla. — While Nicholas Financial disclosed earlier this month that the company could be sold, executives highlighted record net earnings and revenue figures for the third quarter.

On Thursday, Nicholas Financial revealed net-earnings spikes of more than 50 percent for the quarter that ended Dec. 31 as well as the first nine months of its fiscal year.

The company said net earnings for the recent quarter increased 54 percent to $4.475 million. During the three months that ended Dec. 31, 2009, the company compiled $2.909 million in net earnings.

The company's per share diluted net earnings rose 52 percent to 38 cents this past quarter as compared with 25 cents during the year-ago time frame.

Nicholas Financial also mentioned its revenue increased by double digits, too. Third-quarter revenue moved up by 11 percent to a record $15.995 million. In the third quarter of its last fiscal year, the company's revenue tally settled at $14.365 million.

"We are pleased to report record third quarter revenue and earnings," stated Peter Vosotas, chairman and chief executive officer of Nicholas Financial.

"Our results were favorably impacted by an increase in revenues and a reduction in the net charge-off rate," Vosotas added.

Turning over to a look at the financial performance through a nine-month span, Nicholas Financial enjoy similar percentage gains.

Through the nine months that wrapped up Dec. 31, Nicholas Financial's net earnings jumped 58 percent to $12.033 million. In the year-ago period, the amount was $7.605 million.

Looking at the mark per share, the company's diluted net earnings increased 55 percent to $1.01 per share. A year earlier, the figure was 65 cents per share.

Revenue during the nine-month span climbed at the exact same rate as the third quarter — 11 percent. The company's revenue through nine months of its current fiscal year came in at $46.679 million as compared to $42.216 million in the year-ago time frame.

Vosotas also talked about Nicholas Financial's other third-quarter gains beyond its financial performance.

"In the third quarter, the company entered the Illinois and Missouri markets where we have signed leases for new branch locations in Chicago and St. Louis," Vosotas explained.

"We expect these new locations to be fully operational by the end of the fourth quarter. The company will then operate in 14 states with a total of 56 branch locations," he continued.

Early this month after receiving interest from a third party about potentially acquiring the company, Nicholas Financial announced that its board of directors retained advisers to help evaluate potential strategic alternatives.

These alternatives include the possible sale of the company or certain assets, potential acquisition and expansion opportunities, in addition to possible debt or equity financing.

The board has hired Hyde Park Capital Advisors to serve as an independent financial adviser to explore the various opportunities available.

"The company cautions its shareholders and others considering trading in its securities that its board of directors only recently received the indication of interest, and that the process of considering this proposal as well as other possible strategic alternatives for the company is only in its beginning stages," management reported back on Jan. 11.

"The board of directors will proceed in an orderly and timely manner to consider possible strategic alternatives for the company and their implications. Accordingly, no assurances can be given as to whether any particular strategic alternative for the company will be recommended or undertaken, or if so, upon what terms and conditions. The company currently does not intend to make any further public announcements regarding its board of directors' review of possible strategic alternatives until this evaluation process has been completed," the team continued.

Nicholas Financial has about 11.8 million shares of common stock outstanding.