Rochester,NY 8/31/2009 11:05:32 PM
Asset Acceptance Capital Corp.AACC-Recently filed Operating Results (10-Q)
Asset Acceptance Capital Corp
Aug 3, 2009, Asset Acceptance Capital Corp. (AACC) recently filed Quarterly Report for the period ended 2009-06-30.
Asset Acceptance offers credit originators such as credit card issuers consumer finance companies retail merchants utilities and others -- an efficient alternative in recovering defaulted consumer debt. Asset Acceptance Capital Corp. has a market cap of $236.64 million; its shares were traded at around $7.74 with a P/E ratio of 19.35 and P/S ratio of 1.01.
Highlight of Business Operations:
Cash collections decreased for the six months ended June 30, 2009 when compared to the same period in 2008, reflecting a more difficult collections environment due to the macro-economic factors, particularly on our older vintages of paper. Cash collections decreased by $14.1 million or 7.2% to $181.4 million for the six months ended June 30, 2009 compared to $195.5 million for the six months ended June 30, 2008. Traditional call center collections declined by $12.6 million or 14.1% as account representative productivity fell by 17.5% in the six months ended June 30, 2009 when compared to the six months ended June 30, 2008.
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