BRIEF: Portfolio Recovery Associates income rises 2.6 percent

Thu. July 30, 2009; Posted: 01:41 AM

Look up the PowerRating of PRAA and see how it has performed over the past week as well as the current proprietary PowerRating.

Jul 30, 2009 (The Virginian-Pilot - McClatchy-Tribune Information Services via COMTEX) -- PRAA | Quote | Chart | News | PowerRating -- Portfolio Recovery Associates Inc., which buys pools of defaulted consumer debt and attempts to collect it, said Wednesday that its second-quarter net income rose a modest 2.6 percent because of higher expenses, including compensation, and depreciation and amortization on some of the debt it owns.

The Norfolk-based company said net income for the April-through-June period totaled $11.72 million, compared with $11.43 million a year ago. Diluted earnings per share were 76 cents, up from 75 cents. Revenue rose 12 percent to $71.11 million largely because of growth in its fee-based services, which include services to states and municipalities, it said.

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For full details on Portfolio Recovery Assoc (PRAA) click here. Portfolio Recovery Assoc (PRAA) has Short Term PowerRatings of 6. Details on Portfolio Recovery Assoc (PRAA) Short Term PowerRatings is available at This Link.

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