CPS reports third quarter results.IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--Jan. 25, 1995--Consumer Portfolio Services Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPSS CPSS Committee on Payment and Settlement Systems CPSS Commission on Public Secondary Schools CPSS Cincinnati Prehospital Stroke Scale (STR - Smile, Talk, Raise both arms) CPSS Certified Professional Soil Scientist ) Wednesday Wednesday: see week. reported net earnings of $1,745,482, or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on 5,607,527 average shares outstanding for the third quarter ended Dec. 31, 1994, compared with net income of $965,714, or 22 cents per share on 4,742,443 average shares outstanding for the third quarter of the prior year. The results for the three month period ended Dec. 31, 1994, include a full provision for income taxes while the results for the comparable prior year period reflected no income tax expense due to net operating loss carryforwards Net operating loss carryforwards Application of losses to offset earnings in future years. in effect at the time. Third quarter revenues were $6,938,625, a 216 percent increase over revenues of $2,198,883 for the year-ago period. For the nine month period ended Dec. 31, 1994, net earnings were $4,646,382, or 85 cents per share on 5,506,259 average shares outstanding for the period compared with $2,701,731 or 62 cents per share on 4,665,705 average shares outstanding for the prior year period. The results for the nine-month period ended Dec. 31, 1994, include a full provision for income taxes while the results for the comparable prior year period reflected no income tax expense due to net operating loss carryforwards in effect at the time. Revenues for the nine month period ended Dec. 31, 1994, were $17,150,317, a 171 percent increase over revenues of $6,340,065 over the year ago nine month period. CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. reported that purchases of contracts from auto dealers increased to $38.2 million for the third quarter ended Dec. 31, 1994, up from $10.8 million for the year-ago period. Contracts sold to institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. equalled $42.0 million in the third quarter ended Dec. 31, 1994, up from $10.4 million for the year-ago period. The aggregate outstanding balance of contracts owned and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. serviced by the company was $168.7 million at Dec. 31, 1994, compared with $48.7 million at Dec. 31, 1993. "We are pleased with the continued expansion of our contract acquisition program and the growth of our servicing portfolio. With the economies provided by our increased size, CPS should continue the trend of improving results for the remainder of the fiscal year," reported Charles Charles, archduke of Austria Charles, 1771–1847, archduke of Austria; brother of Holy Roman Emperor Francis II. Despite his epilepsy, he was the ablest Austrian commander in the French Revolutionary and Napoleonic wars; however, he was handicapped by E. Bradley Jr., president and chief executive officer. Consumer Portfolio Services purchases, sells and services loans originated by automobile dealers for new and late model used cars. The company services loans in 49 states and has originated contracts in 30 states. For more information on Consumer Portfolio Services via facsimile at no cost, simply call 800/PRO-INFO and dial client code 090. -0-
Consumer Portfolio Services Inc. and subsidiaries
Consolidated statement of operations
Three months ended Nine months ended
Dec. 31, Dec. 31,
1994 1993 1994 1993
Revenue Servicing fees $1,965,570 $1,027,666 $5,301,279 $2,545,974 Net gain on sales 3,291,817 895,600 8,146,459 3,051,220 Interest 1,681,238 275,617 3,702,579 742,871 Total Revenue $6,938,625 $2,198,883 $17,150,317 $6,340,065 Expenses $4,170,446 $1,233,169 $9,380,448 $3,638,334 Income before income taxes $2,768,179 $965,714 $7,769,869 $2,701,731 Income taxes $1,022,697 $ 0 $3,123,487 $ 0 Net income $1,745,482 $965,714 $4,646,382 $2,701,731 Net income per common and common equivalent share 31 cents 22 cents 85 cents 62 cents Weighted average number of common shares 5,607,527 4,742,443 5,506,259 4,665,705 Fully diluted net income per share 30 cents 22 cents 80 cents 62 cents Weighted average number of fully diluted common shares 6,115,318 4,742,443 6,110,099 4,665,705 CONTACT: The Financial Relations Board Jody Martin, general information; Moira Conlon Conlon is an Irish family name, the gaelic spelling being Ó Connalláin. It is a variartion of the anglcised version of Ó Connalláin. It is sometimes spelt Conlan, Conlen and Conlin. Like most surnames, it is sometimes used as a first name. , analyst contact; 818/783-2400 Sue Caulton, analyst contact 415/986-1591 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion