Rochester, NY 9/1/2009 7:27:38 PM
Asset Acceptance Capital Corp., AACC, Down by 0.31 cents Last Trading
Asset Acceptance Capital Corp.
Asset Acceptance Capital misses by $0.10, misses on revs Reports Q2 (Jun) earnings of $0.03 per share, $0.10 worse than the First Call consensus of $0.13; revenues fell 13.1% year/year to $49.1 mln vs the $55 mln consensus.
"The collections environment continues to be challenging in the current economic climate. As unemployment continues to increase we are seeing a negative impact on our liquidation rates, especially in the older vintages where there is decreased collection leverage due to the age of the accounts. However, we believe we will have strong returns on our investments in paper purchased in recent quarters because of our stated strategy of carefully controlling our levels of purchasing in order to save dry powder for the second half of 2009 and full year 2010, which has allowed us to be selective in the portfolios we have acquired."
Whisperfromwallstreet.com is a FREE award winning newsletter dedicated to uncovering stocks that are about to move. Please click here to join now.
Last Trade: 7.28
Day's Range: 7.13 - 7.59
52wk Range: 0.00 - 13.38
Change: 0.00 (0.00%)
Volume: 0
Avg Vol (3m): 54,409.2
ABOUT Asset Acceptance Capital Corp.
Asset Acceptance Capital Corp. is engaged in the purchase and collection of defaulted and charged-off accounts receivable portfolios. Charged-off receivables are the unpaid obligations of individuals to credit originators, such as credit card issuers, consumer finance companies, healthcare providers, retail merchants, telecommunications and utility providers. From January 1, 1999 through December 31, 2008, it had purchased 1,018 consumer debt portfolios. In addition, the Company finances the sales of consumer product retailers through its Consumer Credit, LLC subsidiary. On April 15, 2008, Rx Acquisitions, LLC was merged with and into Asset Acceptance, LLC.
ABOUT WhisperFromWallStreet.com
WhisperFromWallStreet.com offers free daily stock alerts on companies ready to run. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
WhisperFromWallStreet.com has a dedicated team uncovering stocks ready to break and run. We apply time tested criteria and when one of these stocks meets or exceeds our benchmarks, our subscribers are immediately notified directly to their in-box.
This is a free service available only to our subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
During 2009 our alerts have resulted in an average price gain of 80%+.
Disclaimer: Full disclaimer at http://WhisperFromWallStreet.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinstein, nor any of its affiliates are registered investment advisors or broker dealers.
