CLEARWATER, Fla. — A double-digit jump in revenue pushed Nicholas Financial to record net earnings during its most recent quarter as well as impressive gains for the first six months of its fiscal year.

Company executives recently shared that their net earnings for the second quarter of the fiscal year — excluding change in fair value of interest rate swaps — increased an astounding 70 percent. The exact figure came in at $3.89 million at the close of the quarter Sept. 30.

During the same quarter a year ago, Nicholas Financial indicated its net earnings totaled $2.29 million.

Looking at per share diluted net earnings excluding a change in fair value of interest rate swaps, the company said this figure increased 65 percent to 33 cents as compared to 20 cents for the second quarter of the 2009 fiscal year.

Meanwhile, Nicholas Financial also revealed the extent of its second-quarter revenue increase. The amount climbed 11 percent to $15.73 million. During the same quarter a year ago, the company's revenue total was $14.16 million.

Turning next to a look at how the company has performed during the first six months of its fiscal year, Nicholas Financial enjoyed similarly strong performances.

Executives indicated net earnings moved higher by 68 percent to $7.32 million, up from $4.37 million posted during the first six months of their last fiscal year.

On per share basis, the company calculated a similar percentage gain. Per share diluted net earnings jumped 63 percent to 62 cents compared with 38 cents for in the comparative 2009 time frame.

Finally, Nicholas Financial's revenue stream increased 10 percent to $30.68 million for the six months of the current fiscal year. A year ago, executives pointed out the revenue tally was $27.85 million

All of the positive performances delighted Peter Vosotas, chairman and chief executive officer of Nicholas Financial.

"We are pleased to report record second quarter revenue and earnings," Vosotas stated.

"Our results were primarily impacted by an increase in revenues, a reduction in the net charge-off rate and an increase in the cost of borrowed funds," he continued.

Vosotas went on to delve into some strategy that is geared toward bringing Nicholas Financial more revenue and earnings.

"The company continues to evaluate additional markets for future branch locations, and subject to market conditions, could open additional branch locations during the year," he offered. "The company remains open to acquisitions should an opportunity present itself."