WORLD ACCEPTANCE CORP — Annual Report 2007

Apr 17, 2008

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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

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Form 10-K/A

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(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2007

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___ to _______

Commission file number 0-19599

WORLD ACCEPTANCE

CORPORATION

(Exact name of registrant as specified in its charter)

| South
Carolina | 570425114 |
| --- | --- |
| (State
or other jurisdiction of incorporation or organization) | (I.R.S.
Employer Identification No.) |
| 108
Frederick Street | |
| Greenville,
South Carolina | 29607 |
| (Address
of principal executive offices) | (Zip
Code) |

(864) 298-9800

(Registrant's telephone number, including area code)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

| Title
of Each Class | Name
of Each Exchange on Which Registered |
| --- | --- |
| Common
Stock, no par value | The
Nasdaq Stock Market LLC |

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No o

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes o No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Park III of this Form 10-K or any amendment to this Form 10-K. o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check One):

Large Accelerated Filer x Accelerated Filer o Non-accelerated filer o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

The aggregate market value of voting stock held by non-affiliates of the registrant as of September 30, 2006, computed by reference to the closing sale price on such date, was $815,023,770. (For purposes of calculating this amount only, all directors and executive officers are treated as affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.) As of May 22, 2007, 17,517,421 shares of the registrant’s Common Stock, no par value, were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant's definitive Proxy Statement pertaining to the 2007 Annual Meeting of Shareholders ("the Proxy Statement") and filed pursuant to Regulation 14A are incorporated herein by reference into Part III hereof.

WORLD ACCEPTANCE CORPORATION

Explanatory Note

This Amendment No. 1 on Form 10-K/A (“Form 10-K/A”) to the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2007, initially filed with the Securities Exchange Commission (the “SEC”) on May 25, 2007, (the “Original Filing”) amends and restates the Signatures page of the Original Filing to identify the Company’s Principal Accounting Officer as required by General Instruction D(2)(a) of Form 10-K.

Except as expressly set forth in this Amendment No. 1, the Original Filing has not been amended, updated or otherwise modified.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WORLD ACCEPTANCE CORPORATION

| By: |
| --- |
| A.
Alexander McLean, III |
| Chief
Executive Officer Date:
May 25, 2007 |

| By: |
| --- |
| Kelly
Malson Snape |
| Chief
Financial Officer Date:
May 25, 2007 |

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature

| /s/
A. Alexander McLean, III A.
Alexander McLean, III, Chief Executive Officer; Director (principal
executive officer) | /s/
Ken R. Bramlett Jr. Ken
R. Bramlett Jr., Director |
| --- | --- |
| Date:
May 25, 2007 | Date:
May 25, 2007 |

| /s/
Kelly Malson Snape Kelly
Malson Snape, Chief Financial Officer (principal financial and accounting
officer) | /s/
James R. Gilreath James
R. Gilreath, Director |
| --- | --- |
| Date:
May 25, 2007 | Date:
May 25, 2007 |

| /s/
Charles D. Walters Charles
D. Walters, Chairman of the Board of Directors | /s/
Charles D. Way Charles
D. Way, Director |
| --- | --- |
| Date:
May 25, 2007 | Date:
May 25, 2007 |

| /s/
William S. Hummers William
S. Hummers, III, Director |
| --- |
| Date:
May 25, 2007 |

WORLD ACCEPTANCE CORPORATION

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized.

| WORLD
ACCEPTANCE CORPORATION | |
| --- | --- |
| By: | /s/ A.
Alexander McLean, III |
| | A.
Alexander McLean, III |
| | Chief
Executive Officer Date:
April 17, 2008 |