On November 5, 2009, QC Holdings, Inc. issued a press release announcing its financial results for the three months and nine months ended September 30, 2009. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

The attached press release includes three non-GAAP financial measures that management uses and that the company believes may be useful to investors: (i) adjusted net income, (ii) adjusted net income per share, and (iii) adjusted EBITDA. Adjusted net income is calculated as net income plus the after tax effect of 2008 ballot referendum initiatives in Arizona and Ohio. Adjusted EPS is calculated as adjusted net income on a fully diluted per share basis. Adjusted EBITDA is calculated as net income before interest, taxes, depreciation and amortization expenses, adjusted to exclude the charges related to stock options and restricted stock awards, non-cash gains or losses associated with property dispositions and discontinued operations. For the three months and nine months ended September 30, 2008, the 2008 referendum expenditures have been excluded from the computation. Reconciliations of each of these non-GAAP measures are included in schedules to the press release filed with this report.

These non-GAAP financial measures are intended to supplement the company's financial information prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) included in the press release by providing management and investors with additional insight regarding results of operations. Management uses adjusted net income in its strategic planning for the company and in evaluating the results of operations of the company. Management believes the adjusted net income measure may be similarly useful to investors when evaluating financial results of the company for comparable periods because the Company has never undertaken ballot referendum efforts in the past and the level of expenditures was significant. For the same reasons, management also computes and uses adjusted earnings per share.

Management recognizes that its use of adjusted net income and adjusted EPS, as with any non-GAAP financial measure, has various limitations, including the fact that an adjusted item may be a normally recurring expense for the company or may involve the actual use of cash. Nonetheless, management believes that these adjusted net income and adjusted EPS measures provide additional insight for investors into the operating results and business trends of the company. A reconciliation of adjusted net income and adjusted EPS to net income and net income per share is included in the schedules to the press release filed with this report.

Management also uses adjusted EBITDA as a non-GAAP performance measure. Management regularly reviews EBITDA as it assesses its current and prospective operating results. Management uses adjusted EBITDA in its strategic planning for the company and in evaluating the results of operations of the company. The compensation committee has used adjusted EBITDA in evaluating the performance of the company and management and in evaluating certain components of executive compensation, including performance-based annual incentive programs. Management calculates adjusted EBITDA as income from continuing operations before interest, taxes, depreciation and amortization expenses, adjusted to exclude the charges related to stock options and restricted stock awards, and non-cash gains or losses associated with property dispositions (and for the three months and nine months ended September 30, 2008, the 2008 referendum expenditures). Management believes adjusted EBITDA is useful to management and may be useful to investors because certain of the adjusted items represent non-cash charges to net income, and certain of the adjusted items can fluctuate significantly from period-to-period, due in part to the timing of equity-based awards for compensation purposes.

Management recognizes that its use of adjusted EBITDA has various limitations, including the fact that the adjusted items may be a normally recurring expense or may involve the actual use of cash. Nonetheless, management believes that this adjusted EBITDA measure provides additional insight for investors into the operating results and business trends of the company.

The information in Item 2.02 of this report and in the exhibit attached to this report is not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 or 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the accompanying exhibit is not incorporated by reference into any filing with the SEC made by the registrant, whether made before or after the date of this report, regardless of any general incorporation language in that filing.

On November 2, 2009, the company's board of directors declared a cash dividend of 15 cents per common share. Of this total, 10 cents per common share is a special dividend and 5 cents represents the regular quarterly dividend. The special dividend and the regular quarterly dividend are payable December 2, 2009, to stockholders of record as of November 18, 2009.

(c) Exhibits.

The following exhibit is filed as part of this report:

Exhibit No.      Description

   99.1          QC Holdings, Inc. Press Release issued November 5, 2009, reporting
                 the three months and nine months ended September 30, 2009 financial
                 results.