The Q1 numbers are starting to come in for the publicly debt buyers and collectors. Last week Asset Acceptance Capital Corp. announced their quarterly results. Here are the highlights from their 10-Q:
- Q1 EPS of $0.18, $0.08 better than the analyst estimate of $0.10
- Revenue for the quarter came in at $61.83 million versus the consensus estimate of $58.55 million.
- Cash collections for the first quarter of $101.1 million were significantly higher than the same period in 2011, marking the highest quarterly cash collections in their history
- They invested 18.4% more in purchased receivables for all of 2011 than they did in the same period of 2010, and, for all of 2010, they purchased 12.5% more than they did in 2009.
- They purchased over 50% of paper in the tertiary stage of delinquency in 2012 compared to less than 10% in 2011
- Forward flow agreements dropped from 13 contracts in the first quarter of 2011 to 8 in the first quarter of 2012
Since January 1, 2002, Asset Acceptance Capital Corp. has purchased 1,261 consumer debt portfolios, with an original charged-off face value of $45.3 billion for an aggregate purchase price of $1.2 billion…THIS IS BIG BUSINESS!
The issue is that you had no way to take part in the is very lucrative industry. That’s why I created Ropay Asset Investors. We provide average investors access to a system used by some of the largest institutions on Wall Street.
Do Good and Make Money!