Asset Acceptance Capital (AACC) plummeted after the Warren, Mich.-based buyer of poor-performing consumer debt posted a drop in second-quarter income. The company earned $12.4 million, or 33 cents a share, compared with $16.3 million, or 44 cents a share, a year ago.Revenue slipped 2.9% to $66.8 million. The company said the year-over-year decline in revenue was primarily attributable to a $5.5 million net impairment charge compared to a $1.7 million net impairment charge in the second quarter a year ago. Wall Street was looking for the company to earn 38 cents a share on revenue of $70.5 million. Shares fell $2.66, or 14.2%, to $16.08.
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