Corporate Profile for AmeriCredit Corp., dated Jan. 7.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: Jan. 7, 2000
Company Name: AmeriCredit Corp.
Address: 801 Cherry St. Suite 3900
Fort Worth, TX 76102
Main Telephone
Number: 817-302-7000
Internet Home
Page Address
(URL) www.americredit.com
Chief Executive
Officer: Clifton H. Morris, Jr.
Chief Financial
Officer: Daniel E. Berce
Investor Relations
Contact: Kim Pulliam
Business number: 817-302-7009
E-mail address: investor_relations@americredit.com
Public Relations
Contact: Kim Pulliam
Business number: 817-302-7009
Industry: Automotive Banking
Trading Symbol/
Exchange: ACF/NYSE
Company description: AmeriCredit AmeriCredit Corp.(NYSE: ACF) is a Fort Worth-based company that provides car loans, both directly and through automobile dealerships, to medium- and high-risk customers in the United States and Canada. Their headquarters is located in Fort Worth, Texas. Corp. (NYSE NYSE See: New York Stock Exchange :ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function ) is a national consumer finance company specializing in purchasing, securitizing and servicing automobile automobile, self-propelled vehicle used for travel on land. The term is commonly applied to a four-wheeled vehicle designed to carry two to six passengers and a limited amount of cargo, as contrasted with a truck, which is designed primarily for the transportation of loans. Using its branch network and strategic alliances with select auto groups and banks, the Company purchases loans made by franchised and select independent dealers to consumers who are typically unable to obtain financing from traditional sources. The Company's history of improving asset quality and strong financial performance in a rapidly growing market can be attributed to its use of technology and sophisticated risk management techniques. The deployment Installing, setting up, testing and running. This military term, which means the placement of troops and equipment in the field, is widely used with computers as an alternate to the word "implementation. of proprietary scorecards and pricing models developed through extensive data mining allows the Company to assess credit quality at origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real while balancing risk and return. Initiatives are currently in place to generate at least 30% growth in loan volume through geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. and market share expansion and with strategic alliance partnerships. AmeriCredit plans to push return on managed assets to over 2% during the current fiscal year.
Stock 52 Week High/Low (as of 12/13/99):
High 18.25
Low 9.94
Selected Financial Data:
Total managed portfolio
9/30/99 9/30/98 Growth
$4,749,085,000 $2,716,891,000 75%
For the four quarters ended
9/30/99 9/30/98 Growth
Auto loan originations
$3,286,666,000 $2,007,722,000 64%
Net Income
$84,682,000 $54,553,000 55%
Earnings per share
$1.23 $0.82 50%
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion