NORFOLK, Va., Oct. 18, 2012 (GLOBE NEWSWIRE) -- Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a specialized financial and business services company, has been named to the Top 25 of Forbes' 100 Best Small Companies in America.
PRA moved up 40 spots to this year's #23 ranking compared with last year. The company has been named to the Forbes 100 Best Small Companies rankings every year since 2007.
Steve Fredrickson, chairman, president and chief executive officer of PRA, said, "This annual recognition by Forbes is reflective of the continued strength of our business model and our team of exceptional employees who continue to deliver extraordinary growth for our shareholders."PRA also was ranked #8 in Forbes' list of The 10 Hot Companies Hiring Like Crazy. Forbes noted a 49 percent increase in U.S. and international jobs at PRA over the previous three fiscal years. "Here in the U.S., PRA has added almost 700 jobs since 2009. And we continue to expand our U.S. facilities and hire additional employees," Fredrickson said. Forbes' 100 Best Small Companies in America list recognizes companies with significant sales and earnings growth across industries. To be considered for the ranking, companies must have been publicly traded for at least one year and generate annual revenue between $5 million and $1 billion, with a minimum stock price of $5 per share. Forbes ranks the 100 Best Small Companies based on earnings growth, sales growth and return on equity in the past 12 months and over five years. The full list of this year's recipients may be found online at http://www.forbes.com/best-small-companies/list/ . About Portfolio Recovery Associates, Inc. Portfolio Recovery Associates, Inc. (PRA) is a specialized financial and business services company. A market leader in the consumer debt purchase and collection industry, PRA has a longstanding culture of compliance, engaging collaboratively with its customers to create realistic, affordable repayment plans. PRA also provides a broad range of fee-based services, including revenue enhancement for local governments; vehicle location, skip-tracing and collateral recovery for auto lenders, governments, and law enforcement; contingent consumer debt recovery on behalf of U.K. banks, credit providers, and debt purchasers; and class action claims filing on behalf of institutional investors, manufacturers, and retailers. The Company has more than 3,000 employees in 10 U.S. states and the United Kingdom.