UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                  FORM 10-Q

                QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934

        For the Quarter Ended                 Commission File Number:
           March 31, 2005                            0-19133


                     FIRST CASH FINANCIAL SERVICES, INC.
            (Exact name of registrant as specified in its charter)


                  Delaware                         75-2237318
       (state or other jurisdiction    (IRS Employer Identification No.)
     of incorporation or organization)

      690 East Lamar Blvd., Suite 400
             Arlington, Texas                        76011
 (Address of principal executive offices)         (Zip Code)

     Registrant's telephone number, including area code:  (817) 460-3947


      Indicate by check mark whether the registrant (1) has filed all reports
 required to be filed by Section 13  or 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 ___

      Indicate by check mark whether the  registrant is an accelerated  filer
 (as defined in  Rule 12b-2  of the Securities  Exchange Act).  Yes X  No ___


 As of April 28, 2005 there were 15,536,011 shares of Common Stock outstanding.

<PAGE>
                        PART I.  FINANCIAL INFORMATION

 ITEM 1.  FINANCIAL STATEMENTS

                     FIRST CASH FINANCIAL SERVICES, INC.
                    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                  March 31,        December 31,
                                              -------------------  -----------
                                               2005        2004        2004
                                              -------     -------     -------
                                                 (unaudited)
                                             (in thousands, except share data)
                     ASSETS
 Cash and cash equivalents................   $ 38,883    $ 19,482     $26,232
 Service charges receivable...............      3,968       3,565       4,512
 Pawn receivables.........................     22,435      19,784      23,429
 Short-term advance receivables,
   net of allowance of $416, $382
   and $552, respectively.................     11,575      10,781      15,465
 Inventories..............................     16,104      14,467      17,644
 Prepaid expenses and other current assets      1,178         900       1,378
 Income taxes receivable..................          -       3,141         867
                                              -------     -------     -------
    Total current assets .................     94,143      72,120      89,527
 Property and equipment, net..............     18,516      15,012      17,376
 Goodwill.................................     53,237      53,237      53,237
 Other....................................      2,599         737         799
                                              -------     -------     -------
                                             $168,495    $141,106    $160,939
                                              =======     =======     =======

      LIABILITIES AND STOCKHOLDERS' EQUITY
 Accounts payable.........................   $    693    $    644    $    856
 Accrued expenses.........................      7,297       5,930       8,686
 Income taxes payable.....................      1,383           -           -
                                              -------     -------     -------
    Total current liabilities ............      9,373       6,574       9,542
 Deferred income taxes payable............      7,651       6,255       7,351
                                              -------     -------     -------
                                               17,024      12,829      16,893
                                              -------     -------     -------
 Stockholders' equity:
   Preferred stock; $.01 par value;
     10,000,000 shares authorized ........          -           -           -
   Common stock; $.01 par value;
     90,000,000 shares authorized ........        167         158         166
   Additional paid-in capital ............     79,911      66,207      78,556
   Retained earnings .....................     83,509      61,912      77,440
   Common stock held in treasury .........    (12,116)          -     (12,116)
                                              -------     -------     -------
                                              151,471     128,277     144,046
                                              -------     -------     -------
                                             $168,495   $ 141,106    $160,939
                                              =======     =======     =======


                 The accompanying notes are an integral part
            of these condensed consolidated financial statements.

<PAGE>

                     FIRST CASH FINANCIAL SERVICES, INC.
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME


                                                    Three Months Ended
                                                  ----------------------
                                                  March 31,    March 31,
                                                    2005         2004
                                                   -------      -------
                                                       (unaudited)
                                                (in thousands, except per
                                                     share amounts)
 Revenues:
      Merchandise sales.........................  $ 24,237     $ 20,471
      Pawn service charges......................     8,954        8,134
      Short-term advance service charges........    12,669       12,003
      Check cashing fees........................       826          910
      Other.....................................       313          332
                                                   -------      -------
                                                    46,999       41,850
                                                   -------      -------
 Cost of revenues:
      Cost of goods sold........................    14,590       12,070
      Short-term advance loss provision.........     1,581        1,389
      Check cashing returned items expense......        86           73
                                                   -------      -------
                                                    16,257       13,532
                                                   -------      -------

 Gross profit...................................    30,742       28,318
                                                   -------      -------
 Expenses:
      Store operating expenses..................    15,761       14,777
      Administrative expense....................     4,216        4,412
      Depreciation..............................     1,292          921
      Interest expense .........................         -           43
      Interest income...........................       (84)         (14)
                                                   -------      -------
                                                    21,185       20,139
                                                   -------      -------

 Income before income taxes.....................     9,557        8,179
 Provision for income taxes.....................     3,488        3,001
                                                   -------      -------
 Net income.....................................  $  6,069     $  5,178
                                                   =======      =======

 Net income per share:
  Basic ........................................  $   0.38     $   0.34
                                                   =======      =======
  Diluted ......................................  $   0.36     $   0.30
                                                   =======      =======


                 The accompanying notes are an integral part
            of these condensed consolidated financial statements.

<PAGE>

                     FIRST CASH FINANCIAL SERVICES, INC.
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                      Three Months Ended
                                                     --------------------
                                                     March 31,   March 31,
                                                       2005        2004
                                                     --------    --------
                                                   (unaudited, in thousands)
 Cash flows from operating activities:
  Net income ...................................     $  6,069   $   5,178
  Adjustments to reconcile net income to net
  cash flows from operating activities:
    Depreciation  ..............................        1,292         921
    Short-term advance loss provision ..........        1,581       1,389
    Stock option and warrant income tax benefit           598       3,953
  Changes in operating assets and liabilities:
    Service charges receivable .................          544         353
    Inventories ................................          554         392
    Prepaid expenses and other assets ..........       (1,600)         10
    Accounts payable and accrued expenses ......       (1,552)     (4,312)
    Current and deferred income taxes  .........        2,550      (1,228)
                                                     --------    --------
      Net cash flows from operating activities .       10,036       6,656
                                                     --------    --------
 Cash flows from investing activities:
  Pawn receivables, net ........................        1,980         982
  Short-term advance receivables, net...........        2,309       1,589
  Purchases of property and equipment ..........       (2,432)     (1,515)
                                                     --------    --------
      Net cash flows from investing activities .        1,857       1,056
                                                     --------    --------
 Cash flows from financing activities:
  Repayments of debt ...........................            -      (6,000)
  Purchase of treasury stock ...................            -      (1,347)
  Proceeds from exercise of stock options and
    warrants....................................          758       3,270
                                                     --------    --------
      Net cash flows from financing activities .          758      (4,077)
                                                     --------    --------

 Change in cash and cash equivalents............       12,651       3,635
 Cash and cash equivalents at beginning
   of the period................................       26,232      15,847
                                                     --------    --------
 Cash and cash equivalents at end of the period.    $  38,883   $  19,482
                                                     ========    ========
 Supplemental disclosure of cash flow information:
  Cash paid during the period for:
    Interest ...................................    $       -   $      43
                                                     ========    ========
    Income taxes ...............................    $     341   $     277
                                                     ========    ========

 Supplemental disclosure of non-cash investing activity:
  Non-cash transactions in connection with pawn
    receivables settled through forfeitures of
    collateral transferred to inventories ......    $   8,483   $   7,117
                                                     ========    ========


                 The accompanying notes are an integral part
            of these condensed consolidated financial statements.

<PAGE>

                     FIRST CASH FINANCIAL SERVICES, INC.
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 (UNAUDITED)


 Note 1 - Basis of Presentation

      The accompanying unaudited condensed consolidated financial statements,
 including the notes thereto,  include the accounts  of First Cash  Financial
 Services,  Inc.  (the  "Company")  and  its  wholly-owned  subsidiaries.  In
 addition, the  accompanying consolidated  financial statements  include  the
 accounts of  Cash  &  Go,  Ltd., a  Texas  limited  partnership  which  owns
 financial services kiosks  inside convenience stores,  in which the  Company
 has a  50%  ownership interest.  All significant  intercompany accounts  and
 transactions have been eliminated.

      Such unaudited consolidated financial  statements are condensed and  do
 not include all  disclosures and  footnotes required  by generally  accepted
 accounting principles in the United States of America for complete financial
 statements.  Such  interim  period financial  statements should  be read  in
 conjunction with the Company's  consolidated financial statements  which are
 included in the Company's December 31, 2004 Annual Report on Form 10-K.  The
 condensed consolidated financial statements as of March 31, 2005 and for the
 three month periods  ended March 31, 2005  and  2004 are  unaudited, but  in
 management's opinion,  include all  adjustments (consisting  of only  normal
 recurring adjustments) considered necessary to present fairly the  financial
 position, results of  operations and cash  flows for  such interim  periods.
 Operating results for the  period ended March 31, 2005  are not  necessarily
 indicative of the results that may be expected for the full fiscal year.

      Certain amounts  in  prior  year comparative  presentations  have  been
 reclassified in order to conform to the 2005 presentation.


 Note 2 - Revolving Credit Facility

      The Company maintains a  long-term line of  credit with two  commercial
 lenders (the "Credit Facility").  The Credit Facility provides a $25,000,000
 long-term line of credit that matures  on April 15, 2006 and bears  interest
 at the prevailing  LIBOR rate  (which was  approximately 2.9%  at March  31,
 2005) plus a fixed interest rate margin of 1.375%.  Amounts available  under
 the Credit Facility  are limited to  300% of the  Company's earnings  before
 income  taxes,  interest,  and  depreciation for the trailing twelve months.
 At March 31, 2005,  the Company had  $25,000,000  available  for  additional
 borrowings.  Under the terms of the Credit Facility, the Company is required
 to  maintain certain  financial ratios  and  comply with  certain  technical
 covenants.   The  Company  was  in  compliance  with  the  requirements  and
 covenants of the Credit Facility  as of March 31, 2005  and  April 28, 2005.
 The  Company  is  required  to pay an annual commitment fee of 1/8 of 1%  on
 the average daily-unused portion  of the  Credit  Facility  commitment.  The
 Company's Credit  Facility contains  provisions that  allow the  Company  to
 repurchase stock  and/or  pay  cash  dividends  within  certain  parameters.
 Substantially all  of  the unencumbered  assets  of the  Company  have  been
 pledged as collateral against indebtedness under the Credit Facility.


 Note 3 - Earnings Per Share

           The following table sets forth the computation of basic and
 diluted earnings per share  (in thousands, except per share data):

                                                      Three Months Ended
                                                     --------------------
                                                     March 31,   March 31,
                                                       2005        2004
                                                     --------    --------
    Numerator:
      Net income for calculating basic
        and diluted earnings per share              $   6,069   $   5,178
                                                     ========    ========
    Denominator:
      Weighted-average common shares
        for calculating basic earnings
        per share                                      16,063      15,431
      Effect of dilutive securities:
        Stock options and warrants                        950       1,648
                                                     --------    --------
      Weighted-average common
        shares for calculating diluted
        earnings per share                             17,013      17,079
                                                     ========    ========

    Basic earnings per share                        $    0.38   $    0.34
                                                     ========    ========
    Diluted earnings per share                      $    0.36   $    0.30
                                                     ========    ========


 Note 4 - Employee Stock Incentive Plans

      The Company  accounts  for its  employee  stock incentive  plans  under
 Accounting Principles  Board  (APB) Opinion  No.  25, Accounting  for  Stock
 Issued  to  Employees  and  the  related  interpretations  under   Financial
 Accounting Standards  Board (FASB)  Interpretation  No. 44,  Accounting  for
 Certain Transactions Involving  Stock Compensation.  Accordingly, no  stock-
 based employee compensation cost is reflected  in net income as all  options
 and warrants granted  had an  exercise price greater  than or  equal to  the
 market  value  of  the  underlying common  stock on  the date  of grant.  In
 accordance with  SFAS No.  148, Accounting  for Stock-Based  Compensation  -
 Transition and Disclosure, the following table illustrates the effect on net
 income and earnings per share as if  the Company had applied the fair  value
 recognition  provisions  of  SFAS   No.  123,  Accounting  for   Stock-Based
 Compensation, to stock-based employee compensation.

                                                      Three Months Ended
                                                     --------------------
                                                     March 31,   March 31,
                                                       2005        2004
                                                     --------    --------
       Net income, as reported                      $   6,069   $   5,178
       Less:  Stock-based employee
        compensation determined under the
        fair value requirements of SFAS 123,
        net of income tax benefits                      7,392       2,356
                                                     --------    --------
       Adjusted net income                          $  (1,323)  $   2,822
                                                     ========    ========
       Earnings per share:
         Basic, as reported                         $    0.38   $    0.34
         Basic, adjusted                            $   (0.08)  $    0.18

         Diluted, as reported                       $    0.36   $    0.30
         Diluted, adjusted                          $   (0.08)  $    0.17


      The fair values  were determined using  a Black-Scholes  option-pricing
 model using the following assumptions:

                                                      Three Months Ended
                                                     --------------------
                                                     March 31,   March 31,
                                                       2005        2004
                                                     --------    --------
       Dividend yield                                       -           -
       Volatility                                        45.0%       52.7%
       Risk-free interest rate                            3.5%        3.5%
       Expected life                                 5.0 years   5.5 years


      In December 2004,  the FASB issued  Statement No.  123(R), Share  Based
 Payments ("FAS 123(R)").  This statement, which will  be effective  for  the
 Company beginning in  2006, requires that  companies recognize  compensation
 expense equal  to the  fair  value of  stock  options or  other  share-based
 payments.  The Company issued stock options to purchase 2,076,000 shares  of
 common stock to certain  employees and directors in  January 2005 under  its
 existing stock  option plans.  These  options were  issued  in  seven  equal
 layers to each recipient with exercise prices for the layers set at  $25.00,
 $30.00, $35.00, $40.00, $45.00, $50.00 and  $55.00.  The options were  fully
 vested as of the date of grant, and accordingly, the Company will not record
 share  based  compensation  expense related to these options when FAS 123(R)
 is adopted.  The  Company anticipates  that  it  will  record  share   based
 compensation expense, net of income taxes, in 2006 of approximately $300,000
 related to the vesting of other previously issued options.

      During the period  from January 1, 2005  through  March  31, 2005,  the
 Company issued 104,400 shares  of common stock relating  to the exercise  of
 outstanding stock options and  warrants for an  aggregate exercise price  of
 $1,357,000, including income tax benefit.


 ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

 GENERAL

      First Cash  Financial  Services,  Inc. (the  "Company")  is  a  leading
 provider of specialty consumer finance products.  The Company currently  has
 300 locations in eleven U.S. states and six states in Mexico.  The Company's
 pawn stores engage in both consumer finance and retail sales activities  and
 are a convenient  source for small  consumer advances  ("pawns") secured  by
 pledged tangible personal  property such as  jewelry, electronic  equipment,
 tools, sporting goods and  musical equipment.  The  pawn stores also  retail
 previously-owned merchandise  acquired  through collateral  forfeitures  and
 over-the-counter purchases from customers.  Many of the Company's U.S.  pawn
 stores offer short-term, unsecured  advances ("short-term advances"),  which
 are also known as payday advances.

      The Company also operates stand-alone payday advance stores in  several
 U.S.  states.  These  stores provide  a broad  range of  consumer  financial
 services products, including short-term  or payday advances, check  cashing,
 money orders, money transfers and bill  payment services.  In addition,  the
 Company is a 50% partner in Cash  &  Go, Ltd., a Texas limited  partnership,
 which currently  owns  and operates  40  kiosks located  inside  convenience
 stores, which offer short-term advances and check cashing.


 OPERATIONS AND LOCATIONS

      The following table  details store  counts for  the three-month  period
 ended March 31, 2005:

                                          Three Months Ended March 31, 2005
                                         -----------------------------------
                                          Pawn     Payday Advance     Total
                                         Stores        Stores         Stores
                                         ------        ------         ------
       Beginning total                      197            87            284

       New stores opened                     10             5             15

       Closed stores                         (2)            -             (2)
                                         ------        ------         ------
       Ending total                         205            92            297
                                         ======        ======         ======

      At March 31, 2005, a  total of 69 pawn  stores also offered the  payday
 advance product in addition to pawn loans and retail sales.  For the  three-
 month period ended  March 31, 2005, the Company's  50% owned joint  venture,
 Cash & Go,  Ltd. operated a  total of 40  kiosks located inside  convenience
 stores in the state of Texas, which are not included in the above chart.  No
 kiosks were opened or closed during the three months ended March 31, 2005.

      For the  quarter ended  March 31, 2005,  the  Company's  revenues  were
 derived 52% from merchandise sales, 19% from service charges on pawn  loans,
 27% from service charges on short-term advances, and 2% from other  sources,
 primarily check cashing fees.

      Stores included in the same-store revenue calculations are those stores
 that were opened prior to the beginning of the prior year comparative fiscal
 period and are  still open.  Also included  are  stores that were  relocated
 during the year within a specified  distance serving the same market,  where
 there is not a  significant change in store  size and where  there is not  a
 significant overlap or gap  in timing between the  opening of the new  store
 and the closing  of the existing  store.  During  the periods reported,  the
 Company has not had store expansions  that involved a significant change  in
 the size of retail showrooms, and accordingly, no expanded stores have  been
 excluded from the  same-store  calculations.  Sales  of  scrap  jewelry  are
 included  in same-store  revenue calculations.  Revenues from the Cash & Go,
 Ltd. kiosks are included in same-store calculations for 2004 as the revenues
 from the kiosks were included in the consolidated revenues for Fiscal 2004.

      Although the Company has had significant  increases in revenues due  to
 new store openings in 2004 and 2005, the Company has also incurred increases
 in  operating  expenses  attributable  to the  additional stores.  Operating
 expenses consist  of  all items directly  related to  the operation  of  the
 Company's stores,  including  salaries  and  related  payroll  costs,  rent,
 utilities,   equipment,  advertising,  property  taxes,  licenses,  supplies
 and security.  Administrative  expenses  consist of  items  relating to  the
 operation of the  corporate office, including  the compensation and  benefit
 costs  of  corporate  officers,   area  supervisors  and  other   operations
 management, accounting  and  administrative  costs,  information  technology
 costs, liability and casualty insurance,  outside legal and accounting  fees
 and stockholder-related expenses.


 CRITICAL ACCOUNTING POLICIES

      The preparation of financial  statements in conformity with  accounting
 principles generally  accepted  in the  United  States of  America  requires
 management to  make  estimates  and assumptions  that  affect  the  reported
 amounts of assets  and liabilities, and  related revenues  and expenses  and
 disclosure of  gain and  loss contingencies  at the  date of  the  financial
 statements.  Such estimates and assumptions are subject to a number of risks
 and uncertainties, which may cause actual results to differ materially  from
 the Company's  estimates.  Both  the significant  accounting policies  which
 management believes are the most critical to aid in fully understanding  and
 evaluating  the  reported  financial  results  and  the  effects  of  recent
 accounting pronouncements have  been reported in  the Company's  2004 Annual
 Report on Form 10-K.

      In December 2004,  the FASB issued  Statement No.  123(R), Share  Based
 Payments ("FAS 123(R)").  This  statement, which will  be effective for  the
 Company beginning in  2006, requires that  companies recognize  compensation
 expense equal  to the  fair  value of  stock  options or  other  share-based
 payments.  The Company issued options to purchase 2,076,000 shares of common
 stock to certain employees and directors in January 2005 under its  existing
 stock option plans.  These options were issued in seven equal layers to each
 recipient with exercise prices for the layers set at $25.00, $30.00, $35.00,
 $40.00, $45.00, $50.00 and $55.00.  The options were fully-vested as of  the
 date of grant,  and accordingly,  the Company  will not  record share  based
 compensation expense related to  these options when  FAS 123(R) is  adopted.
 The Company designed  the terms  and conditions of  this option  grant in  a
 manner so as  to provide meaningful  long-term performance-based  incentives
 for the  management  team and  to  reduce future  share  based  compensation
 expense under FAS 123(R).  The Company anticipates that it will record share
 based compensation expense, net  of income taxes,  in 2006 of  approximately
 $300,000 related to the vesting of other previously issued options.


 RESULTS OF OPERATIONS

 Three months ended March 31, 2005 compared to the three months ended
 March 31, 2004

      Total revenues increased 12% to $46,999,000 for the three months  ended
 March 31, 2005 ("the First Quarter of 2005") as compared to $41,850,000  for
 the three months ended March  31, 2004 ("the First  Quarter of 2004").   The
 change was comprised of an increase  in revenues of $3,080,000 generated  by
 the 67 new pawn and payday advance  stores which were open since  January 1,
 2004, a same-store increase totaling $2,323,000 at the stores which were  in
 operation during all of the First  Quarter of both 2004  and 2005, net of  a
 decrease in revenues  of $254,000 from  five stores that  were closed  since
 January 1, 2004.  Same-store revenues increased 7% for the First Quarter  of
 2005 as compared to the same  quarter last year.  This increase  represented
 the net effect of larger same-store revenue increases in newer stores opened
 in 2002 and  2003, less smaller  revenue increases in  the stores opened  or
 acquired prior to 2002.

      Of  the  $5,149,000  increase  in  total  revenues, 73%, or $3,766,000,
 was attributable  to  increased  merchandise  sales, 16%,  or  $820,000  was
 attributable to an increase  in pawn service charges,  13%, or $666,000  was
 attributable to an  increase in  short-term advance  service charges,  while
 other income, comprised  primarily of check  cashing fees,  decreased 2%  or
 $103,000.  The  year-over-year  increases  in  merchandise  sales  and  pawn
 service charges of  18% and 10%, respectively, resulted from the  maturation
 of new pawn stores opened over  the past three years and same-store  revenue
 increases in  mature  domestic pawn  stores.  Short-term  or payday  advance
 service charges increased 6%,  which is reflective  of a smaller  percentage
 increase in the number of new locations offering the payday advance  product
 and a resulting larger percentage base of mature stores, which also  include
 the 40 Cash & Go, Ltd. kiosks.  In  addition, the Company noted that  payday
 advance revenues during the First Quarter  of 2005 were negatively  impacted
 by the 2005  calendar, which contained  only twelve Fridays,  compared to  a
 typical quarter that has thirteen Fridays.  For the payday advance  product,
 a significant  number of  the new  advances are  either written  on  Fridays
 and/or scheduled  for  collection on  Fridays  and the  twelve-Friday  First
 Quarter of  2005  negatively impacted  both  gross and  net  payday  advance
 profitability compared to the prior year quarter which had thirteen Fridays.

      A significant component of the increase  in merchandise sales was  non-
 retail bulk  sales  of  scrap  jewelry  merchandise,  which  increased  from
 $3,439,000 in the First Quarter of  2004 to $5,269,000 in the First  Quarter
 of 2005.   As a percentage  of total revenues,  merchandise sales  increased
 from 49% to 52% during the  First Quarter of 2005  as compared to the  First
 Quarter of 2004, pawn service charges remained unchanged at 19%,  short-term
 advance service fees decreased from 29%  to 27%, and check cashing fees  and
 other income  as a  percentage of  total revenues  decreased from  3% to  2%
 during the First Quarter of 2004 and the First Quarter of 2005.

      The pawn receivables  balance increased 13%  from $19,784,000 at  March
 31, 2004 to $22,435,000 at March 31, 2005.  The pawn receivables balance  in
 the Company's  domestic stores  at  March 31, 2005  was  $14,886,000,  which
 represented an increase of 5% over the prior year.  Pawn receivables in  the
 Mexico stores at March 31, 2005 were $7,549,000, an increase of 36% over the
 prior year.  Of the $2,651,000 total increase in pawn receivables,  $884,000
 was attributable to the growth at the  stores which were in operation as  of
 March 31, 2005 and 2004, and  $1,767,000 was attributable to the new  stores
 opened since March 31, 2004.  The net short-term advance receivables balance
 increased 7% from $10,781,000 at March 31, 2004 to $11,575,000 at March  31,
 2005.  Of the $794,000 increase, $235,000 was attributable to the growth  in
 short-term advance receivable balances at the stores which were in operation
 as of March  31, 2005  and 2004  and $559,000  was attributable  to the  new
 stores opened since March 31, 2004.  The Company's loss provision reserve on
 short-term advance receivables increased from $382,000 at March 31, 2004  to
 $416,000 at March 31, 2005.

      Gross profit margins  on total merchandise  sales were  40% during  the
 First Quarter of  2005 compared  to 41% during  the First  Quarter of  2004.
 Retail merchandise margins, which exclude bulk scrap jewelry sales, were 44%
 during  the First Quarter  of  2005 compared to 45% during the First Quarter
 of 2004.  The  Company's  loss provision  relating  to  short-term  advances
 increased from $1,389,000 in the First Quarter of 2004 to $1,581,000 in  the
 First Quarter of 2005.  As a percentage of short-term advance service charge
 revenues, the loss provision increased from  11.6% during the First  Quarter
 of 2004 to  12.5% during the  First Quarter of  2005.  Management  considers
 these fluctuations to be within the expected range of variability.

      Store operating expenses increased 7%  to $15,761,000 during  the First
 Quarter  of  2005  compared  to  $14,777,000  during  the  First  Quarter of
 2004, primarily  as  a  result  of the  net addition of  62 pawn  and  check
 cashing/short-term  advance  stores  since  January  1,  2004,  which  is  a
 26%  increase  in  store  count.  Administrative  expenses  decreased  4% to
 $4,216,000 during the First  Quarter of 2005  compared  to $4,412,000 during
 the First Quarter of 2004, which is attributable to net reductions in  total
 administrative  and  supervisory  compensation  expense,  net  decreases  in
 certain Mexico  administrative  expenses  and  other  seasonal  and/or  non-
 recurring factors  affecting comparability  to the  prior  year.  Full  year
 administrative expenses for 2005 are expected  to increase in comparison  to
 2004.  The Company had no interest expense during the First Quarter of  2005
 as a result of paying off all outstanding debt during Fiscal 2004.  Interest
 income increased from $14,000 in the First Quarter of 2004 to $84,000 in the
 First Quarter of 2005, due primarily to interest income earned on  increased
 levels of invested cash and cash equivalents.

      For the First Quarter of 2004 and 2005, the Company's effective federal
 income tax rates of 37% and  36%, respectively, differed from the  statutory
 tax rate of  approximately 35% primarily  as a result  of state and  foreign
 income  taxes.  The reduction in the 2005 effective tax rate is a result  of
 recording certain tax benefits related to the Company's Mexico operations.


 LIQUIDITY AND CAPITAL RESOURCES

      The Company's operations  and store  openings have  been financed  with
 funds generated from operations.

      The Company maintains a  long-term line of  credit with two  commercial
 lenders (the "Credit Facility").  The Credit Facility provides a $25,000,000
 long-term line of credit that matures  on April 15, 2006 and bears  interest
 at the prevailing  LIBOR rate  (which was  approximately 2.9%  at  April 28,
 2005) plus a fixed interest rate margin of 1.375%.  Amounts available  under
 the Credit Facility  are limited to  300% of the  Company's earnings  before
 income taxes,  interest,  depreciation  and amortization  for  the  trailing
 twelve months.  At March 31, 2005, the Company had $25,000,000 available for
 additional borrowings.  Under the terms of the Credit Facility, the  Company
 is required to  maintain certain financial  ratios and  comply with  certain
 technical covenants.  The  Company was in  compliance with the  requirements
 and covenants of  the Credit Facility  as of March  31, 2005  and  April 28,
 2005.  The Company is required to pay an annual commitment fee of 1/8 of  1%
 on the average daily-unused portion of the Credit Facility  commitment.  The
 Company's Credit  Facility contains  provisions that  allow the  Company  to
 repurchase stock  and/or  pay  cash  dividends  within  certain  parameters.
 Substantially all  of  the unencumbered  assets  of the  Company  have  been
 pledged as collateral against indebtedness under the Credit Facility.

      As of March 31, 2005, the  Company's primary sources of liquidity  were
 $38,883,000 in  cash  and  cash  equivalents,  $37,978,000  in  receivables,
 $16,104,000 in inventories  and $25,000,000  of available  and unused  funds
 under  the  Company's  Credit  Facility.  The  Company  had  working capital
 of  $84,770,000  as  of  March 31, 2005, and  total  equity  exceeded  total
 liabilities by a ratio of 9 to 1.

      The Company utilized positive cash flows from operations in the  Three-
 Month 2005  Period  to fund  investing  and financing  activities  primarily
 related to opening new stores.  Net cash provided by operating activities of
 the Company during the  three months ended March 31, 2005  was  $10,036,000,
 consisting primarily of net income  of $6,069,000 plus non-cash  adjustments
 for depreciation, short-term  advance loss provision,  tax benefit from  the
 exercise  of  employee  stock  options,  and a  change in  tax  balances  of
 $1,292,000, $1,581,000, $598,000, and $2,550,000,  respectively, in addition
 to a decrease in  service charge receivables and inventory  of $544,000  and
 $554,000, respectively, net of an increase  in prepaid assets of  $1,600,000
 and a decrease in accounts payable and accrued expenses of  $1,552,000.  Net
 cash provided by investing  activities during the  three months ended  March
 31, 2005 was $1,857,000, which was  primarily comprised of net cash  inflows
 from pawn receivable activity  of $1,980,000,  net  cash inflows from short-
 term advance receivable activity of $2,309,000,  net of cash paid for  fixed
 asset additions of $2,432,000.  The opening of 15 new stores  and  purchases
 of corporate fixed  assets  during  the  Three-Month 2005 Period contributed
 significantly to the volume of fixed asset additions.  Net  cash provided by
 financing activities was $758,000  during the three  months ended  March 31,
 2005, which consisted of  net proceeds from exercises  of stock options  and
 warrants.

      For  purposes  of  its  internal  liquidity  assessments,  the  Company
 considers net  cash  changes  in pawn  receivables  and  short-term  advance
 receivables to be closely related to operating cash flows.   For the  Three-
 Month 2005 Period  the total cash  flows from  operations were  $10,036,000,
 while net cash inflows  related to pawn  receivable activity and  short-term
 advance receivable activity  were $1,980,000  and $2,309,000,  respectively.
 The combined net cash flows from operations and pawn and short-term  advance
 receivables totaled $14,325,000 for  the Three-Month 2005  Period.  For  the
 comparable  Three-Month  2004  Period,  cash  flows  from  operations   were
 $6,656,000 and net cash inflows related to pawn receivables  and  short-term
 advance  receivables  were  $982,000   and   $1,589,000,  respectively.  The
 combined net  cash flows  from operations and pawn  and  short-term  advance
 receivables totaled $9,227,000 for the Three-Month 2004 Period.

      The profitability  and liquidity  of the  Company  is affected  by  the
 amount of pawn receivables outstanding, which  is controlled in part by  the
 Company's pawn lending  decisions.  The Company  is able  to  influence  the
 frequency of  pawn  redemptions  by  increasing  or  decreasing  the  amount
 advanced in relation to  the resale value of  the pawned  property.  Tighter
 credit decisions generally result  in smaller pawn  advances in relation  to
 the estimated resale value of the pledged property and can thereby  decrease
 the Company's aggregate pawn receivable balance and, consequently,  decrease
 pawn service  charges.  Additionally,  small  advances  in relation  to  the
 pledged property's estimated resale value tend to increase pawn  redemptions
 and improve the Company's liquidity.  Conversely, providing larger pawns  in
 relation to the estimated resale value of the pledged property can result in
 an increase  in the  Company's pawn  service charge  income.   Also,  larger
 average pawn balances can result in  an increase in pawn forfeitures,  which
 increases the quantity of  goods on hand and,  unless the Company  increases
 inventory turnover, reduces the Company's liquidity.  The Company's  renewal
 policy allows customers to renew pawns  by repaying all accrued interest  on
 such pawns, effectively creating a new pawn transaction.

      The amount  of short-term  advances outstanding  and the  related  loss
 provision also affect the  profitability and liquidity of  the Company.   An
 allowance for losses is provided on  active short-term advances and  service
 charges receivable,  based upon  expected default  rates, net  of  estimated
 future recoveries of  previously defaulted short-term  advances and  service
 charges receivable.  The  Company  considers  short-term advances  to be  in
 default if they are not repaid on the due date, and writes off the principal
 amount and service charges receivable as  of the default date, leaving  only
 active receivables in the  reported balances.  Net  defaults and changes  in
 the short-term advance allowance are charged to the short-term advance  loss
 provision.

      In addition to these factors, merchandise  sales and the pace of  store
 expansions affect the  Company's liquidity.  Management  believes that  cash
 generated from operations should be sufficient to accommodate the  Company's
 current operations for Fiscal 2005.  The Company has no significant  capital
 commitments.

      While  the  Company  continually  looks  for,  and  is  presented  with
 potential acquisition opportunities, the Company currently has no definitive
 plans or commitments for  acquisitions.  The Company will evaluate potential
 acquisitions, if any, based upon growth potential, purchase price, strategic
 fit and quality of management personnel among other factors.  If the Company
 encounters an  attractive opportunity  to acquire  new  stores in  the  near
 future, the Company may seek additional  financing, the terms of which  will
 be negotiated on a case-by-case basis.


 CAUTIONARY STATEMENT REGARDING RISKS AND UNCERTAINTIES THAT MAY AFFECT
 FUTURE RESULTS

 Forward-Looking Information

      This  quarterly  report  may  contain  forward-looking statements about
 the business, financial  condition and prospects  of  First  Cash  Financial
 Services, Inc.  Forward-looking statements can  be identified by the use  of
 forward-looking  terminology  such  as  "believes,"  "projects,"  "expects,"
 "may," "estimates," "should," "plans," "intends," "could," or "anticipates,"
 or  the  negative  thereof,  or  other  variations  thereon,  or  comparable
 terminology, or by discussions of  strategy.  Forward-looking statements  in
 this quarterly report  include, without limitation,  the Company's  earnings
 forecast for 2005, its expectations for new store openings in 2005, and  its
 cash flow expectations  for  2005.  Such  statements are  subject to  future
 adjustments, pending  regulatory  and  legislative  initiatives,  which  are
 described  herein and in the  Company's Annual Report  on Form 10-K  for the
 year  ended  December 31, 2004.  These  statements  are made to  provide the
 public  with management's assessment  of  the Company's  business.  Although
 the  Company believes  that  the  expectations  reflected in forward-looking
 statements are reasonable, there can be no assurances that such expectations
 will  prove  to  be  accurate.  Security holders  are  cautioned  that  such
 forward-looking statements involve  risks  and  uncertainties.  The forward-
 looking statements contained in this  quarterly report  speak only as of the
 date  of  this statement, and the Company expressly disclaims any obligation
 or undertaking to release any  updates or revisions  to any  such  statement
 to reflect any change in the Company's expectations or any change in events,
 conditions or circumstance on which  any such statement  is  based.  Certain
 factors  may cause results  to  differ materially from  those anticipated by
 some  of the statements made in this release.  Such  factors  are  difficult
 to  predict  and  many  are  beyond  the  control  of the Company.  Recently
 issued  federal  regulations  and  enforcement actions,  as well as proposed
 state-level legislation,  affecting the payday advance industry could affect
 the Company's financial results and growth expectations  in certain markets;
 however,  the  impact  of  the  new  regulations,  enforcement  actions  and
 legislation cannot be estimated at the current time.  Other such factors may
 include changes in  regional, national or international economic conditions,
 changes  or  increases in competition,  the ability  to open  and  integrate
 new stores, the  ability to  maintain favorable  banking relationships as it
 relates  to  short-term  lending  products,  changes  in other  governmental
 regulations, unforeseen litigation,  changes in interest  rates, changes  in
 tax  rates or policies, changes in gold prices,  changes in foreign currency
 exchange rates, future business decisions, and other uncertainties.

 Payday Advance Regulatory Developments

      The Company's  short-term or  payday advance  operations are  generally
 regulated directly by the  various states in which  the product is  offered.
 In the State of Texas, the Company has entered into an agreement with County
 Bank of Rehoboth Beach, Delaware ("County Bank"),  a federally insured State
 of  Delaware  chartered  financial  institution, to act  as  a loan servicer
 within  the  state  for County Bank.  The Company is licensed as a regulated
 servicing  agent  by the State  of  Texas.  The  Federal  Deposit  Insurance
 Corporation ("FDIC") regulates the ability of state chartered banks to enter
 into  relationships with out-of-state  payday loan  servicers, and maintains
 guidelines  under  which  such  arrangements  are  permitted.  Texas  is the
 only  state in  which  the  Company functions  as  a loan  servicer  through
 a  relationship  with a  state  chartered  bank  that is subject to the FDIC
 guidelines for payday lending.

      On March 2, 2005, the FDIC issued revised payday lending guidelines for
 FDIC-supervised banks.   The revised guidelines  include a requirement  that
 such banks develop procedures to ensure  that a payday loan is not  provided
 to any customer with  payday loans outstanding from  any bank for more  than
 three months in  the previous  twelve  months.  It currently  remains to  be
 determined what procedures may be proposed by the lending banks or  accepted
 by the FDIC in  order to meet these  guidelines.  The FDIC-supervised  banks
 are currently in the process of reviewing the revised guidelines and  expect
 to implement  any necessary  changes in  lending procedures  to comply  with
 them.  The Company's  payday advance revenues  from Texas locations  totaled
 $30,554,000  in  Fiscal  2004  and  represented  approximately  17%  of  the
 Company's total revenues for  2004.  For the  quarter ended March 31,  2005,
 payday revenues  from Texas  locations  totaled $6,810,000  and  represented
 approximately 14.5% of the Company's total  revenues for the first  quarter.
 The Company expects that implementation of the revised guidelines could have
 a negative effect  on some  portion of its  payday lending  revenues in  its
 Texas locations.  Until FDIC-supervised banks  complete their review of  the
 revised guidelines and the FDIC approves the revised procedures expected  to
 be developed  by the  banks providing  payday loans,  the exact  timing  and
 amount  of  the  financial  impact  of  the  revised  guidelines  cannot  be
 estimated.

      In a separate matter,  on March 11, 2005, the FDIC issued  an  Order to
 Cease and Desist (the "Order") to County Bank to address alleged unsafe  and
 unsound banking practices related to the bank's short-term  loan,  or payday
 advance, program.  County Bank consented  to issuance  of the Order  without
 admitting to or denying the alleged charges.  The Order requires that County
 Bank address certain alleged deficiencies in the operation of its short-term
 loan  program,  specifically  including  management  supervisory  functions,
 oversight and control  over  third-party short-term loan  servicing  agents,
 internal  control  systems, information  systems,  internal  audit  systems,
 certain lending  practices, and compliance  with existing  FDIC  regulations
 concerning  short-term  loan  programs.  The FDIC has provided specific time
 tables  ranging from 15 to 90 days from the date  of the  Order  for  County
 Bank  to achieve compliance  with the specified directives.  County Bank has
 informed the Company that  it expects to meet the requirements of the Order.
 While  the  Company does  not  expect  that actions taken  by County Bank to
 achieve  compliance  with the Order  will have  a significant impact  on the
 Company's short-term loan (payday advance)  servicing operations with County
 Bank,  the  ultimate  effect  of  any  such  actions  cannot  be  determined
 at  the current  time.  Additionally, were the FDIC to eventually suspend or
 significantly  restrict County  Bank's  short-term loan program, such action
 would  negatively  impact the Company's ability  to offer the payday advance
 product in its Texas locations.

      In addition  to  federal  legislative  and  regulatory  oversight,  the
 consumer finance industry  is also  subject to  legislative initiatives  and
 regulatory  actions  at  the state  level.  If  state-level  legislative  or
 regulatory actions  that  had  negative  effects  on  the  consumer  finance
 industry were taken in states where the Company has a significant number  of
 stores,   those  actions  could  have a  material,  adverse  effect  on  the
 Company's lending activities and revenues.  There can  be no assurance  that
 additional local, state, or federal legislation will not  be enacted or that
 existing  laws  and  regulations  will  not  be  amended,  which would  have
 a  materially  adverse  impact  on the  Company's operations  and  financial
 condition.

 Other

      Certain factors  may  cause results  to  differ materially  from  those
 anticipated by some of the statements made in this report.  Such factors are
 difficult to predict and many are beyond the control of the Company, but may
 include changes in regional, national or international economic  conditions,
 changes  in  competition  from  various  sources  including  both  financial
 services entities  and  retail  businesses, the  ability  to  integrate  new
 stores, changes in governmental regulations, unforeseen litigation,  changes
 in capital  markets, changes  in interest  rates, changes  in tax  rates  or
 policies, the ability to maintain a loan servicing relationship with an out-
 of-state bank necessary to generate service charges from short-term advances
 in the  Texas market,  future business  decisions, changes  in gold  prices,
 changes  in  foreign   currency  exchange   rates,  and   other  risks   and
 uncertainties  indicated   in   the   Company's  2004   Annual   Report   to
 Stockholders.


 ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

      Market risks relating to the Company's operations result primarily from
 changes in interest rates, gold prices  and foreign currency exchange  rates
 and  are described  in detail  in the Company's  2004 Annual Report  on Form
 10-K.  The Company does not engage in speculative or leveraged transactions,
 nor does  it  hold or  issue  financial instruments  for  trading  purposes.
 There have been  no material  changes to  the Company's  exposure to  market
 risks since December 31, 2004.


 ITEM 4.   CONTROLS AND PROCEDURES

    (a) Evaluation of Disclosure Controls and Procedures

             Management  is  responsible  for establishing  and  maintaining
        adequate internal control  over financial reporting for the  Company.
        Accordingly, under the supervision and with the participation of  the
        Company's  Chief  Executive  Officer  and  Chief  Financial  Officer,
        management  of the  Company has  evaluated the  effectiveness of  the
        design  and  operation  of  the  Company's  disclosure  controls  and
        procedures (as  defined in Rules  13a-15(e) and  15d-15(e) under  the
        Securities Exchange Act  of 1934) as of March  31, 2005.  Based  upon
        that  evaluation, the  Chief Executive  Officer and  Chief  Financial
        Officer  concluded  that,  as  of  March  31,  2005,  the   Company's
        disclosure controls and  procedures are effective in timely  alerting
        them to the material information relating to the Company required  to
        be included in its periodic filings with the Securities and  Exchange
        Commission.

    (b) Changes in Internal Control Over Financial Reporting

             There has been  no significant  change in the Company's internal
        control over  financial reporting that  was identified in  connection
        with   management's  evaluation,   as  described   above,  that   has
        materially affected,  or is reasonably  likely to materially  affect,
        the Company's internal control over financial reporting.


                         PART II.  OTHER INFORMATION


 ITEM 1.  LEGAL PROCEEDINGS

      There have been no material developments in the litigation and
 arbitration previously reported in the Company's 2004 Annual Report to
 Stockholders filed on Form 10-K.


 ITEM 2.  CHANGES IN SECURITIES

      During the period  from  January 1, 2005  through  April 28, 2005,  the
 Company issued 36,250  shares of common  stock relating to  the exercise  of
 outstanding  stock  options  for an  aggregate  exercise price  of  $544,000
 (including income  tax  effect).  During  the  period  from  January 1, 2005
 through April 28, 2005, the Company  issued 87,000  shares  of common  stock
 relating to  the exercise of outstanding  stock  warrants for  an  aggregate
 exercise price of $1,062,000 (including income tax effect).

      The transactions  set  forth in  the  above paragraphs  were  completed
 pursuant to  either  Section 4(2)  of  the Securities  Act  or Rule  506  of
 Regulation D of the Securities Act.  With respect to issuances made pursuant
 to Section 4(2) of the Securities Act, the transactions did not involve  any
 public offering and were sold to a limited group of persons.  Each recipient
 either received  adequate  information  about the  Company  or  had  access,
 through employment  or other  relationships, to  such information,  and  the
 Company determined that each recipient had such knowledge and experience  in
 financial and business matters  that they were able  to evaluate the  merits
 and risks of an investment in the  Company.  With respect to issuances  made
 pursuant to Rule  506 of  Regulation D of  the Securities  Act, the  Company
 determined that each purchaser  was an "accredited  investor" as defined  in
 Rule 501(a) under the Securities Act.  All sales of the Company's securities
 were  made  by  officers  of  the  Company who  received  no  commission  or
 other remuneration for  the solicitation  of any  person  in connection with
 the respective  sales  of  securities  described above.  The  recipients  of
 securities  represented  their  intention  to  acquire  the  securities  for
 investment only and not with a  view to or for  sale in connection with  any
 distribution thereof  and  appropriate legends  were  affixed to  the  share
 certificates and other instruments issued in such transactions.

      On July 15, 2004 the Board of Directors authorized the repurchase of up
 to 1,600,000 shares of common stock. During the period from  January 1, 2005
 through April 28, 2005,  the Company  repurchased 576,479  shares of  common
 stock at an  average price of  $19.74 per share  under the stock  repurchase
 program approved by the Board of Directors.

      The following table provides the information with respect to  purchases
 made by the Company of shares of its common stock during each month that the
 program was in effect during 2005.

                                             Total Number         Maximum
                      Total      Average       of Shares         Number Of
                      Number       Price   Purchased as Part  Shares that May
                     Of Shares     Paid       of Publicly     Yet Be Purchased
                     Purchased   Per Share   Announced Plan    Under the Plan
                     ---------   ---------   --------------    --------------
 January 1 through
   January 31, 2005         -     $    -               -           977,285
 February 1 through
   February 28, 2005        -          -               -           977,285
 March 1 through
   March 31, 2005           -          -               -           977,285
 April 1 through
   April 28, 2005     576,479      19.74         576,479           400,806
                      -------                    -------
   Total              576,479     $19.74         576,479
                      =======                    =======


 ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

    Not Applicable


 ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

    None


 ITEM 5.  OTHER INFORMATION

    None


 ITEM 6.  EXHIBITS

         Exhibits:

          31.1  Certification Pursuant to Section 302 of the Sarbanes-Oxley
                Act provided by J. Alan Barron, Chief Executive Officer

          31.2  Certification Pursuant to Section 302 of the Sarbanes-Oxley
                Act provided by R. Douglas Orr, Chief Financial Officer

          32.1  Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
                Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
                provided by J. Alan Barron, Chief Executive Officer and
                R. Douglas Orr, Chief Financial Officer



                                  SIGNATURES

 Pursuant to the  requirements 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.


 Dated:  April 28, 2005        FIRST CASH FINANCIAL SERVICES, INC.
                               ----------------------------------
                               (Registrant)


                               /s/ J. ALAN BARRON
                               -----------------------
                               J. Alan Barron
                               Chief Executive Officer

                               /s/ R. DOUGLAS ORR
                               -----------------------
                               R. Douglas Orr
                               Chief Financial Officer
                               (Principal Accounting Officer)

<PAGE>


                              INDEX TO EXHIBITS


  EXHIBIT
  NUMBER                   DESCRIPTION
  ------                   -----------

   31.1    Certification Pursuant to Section 302 of the Sarbanes-Oxley Act
           provided by J. Alan Barron, Chief Executive Officer

   31.2    Certification Pursuant to Section 302 of the Sarbanes-Oxley Act
           provided by R. Douglas Orr, Chief Financial Officer

   32.1    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
           Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 provided
           by J. Alan Barron, Chief Executive Officer and R. Douglas Orr,
           Chief Financial Officer