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NORFOLK, Va., Sept. 9, 2013 (GLOBE NEWSWIRE) -- For the second consecutive year, Portfolio Recovery Associates, Inc. (Nasdaq:PRAA), a financial and business services company operating in the U.S. and the U.K, is one of
Fortune's 100 Fastest-Growing Companies. PRA is among only six financial service sector companies making this year's list, compared with 12 last year.
"As creditors continue to sell charged-off, defaulted consumer debt to PRA, we have experienced continued success at connecting with consumers ready to pay down their debt in an improving economy," said Steve Fredrickson, PRA's chairman, president and chief executive officer.
Companies that meet
Fortune's criteria "are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 28, 2013. The overall rank is based on the sum of the three ranks," according to
Fortune. In its
Fortune cited PRA's three-year average revenue growth of 28%, profit (or EPS) growth of 36%, and total return of 32%.
As a leader in the U.S. debt buying industry, Portfolio Recovery Associates, Inc. returns capital to banks and other creditors that helps expand financial services for consumers. PRA collaborates with its customers to create affordable, realistic debt repayment plans. The company also provides a broad range of fee-based services to local governments and law enforcement, U.S. businesses, institutional investors, global hedge funds, and U.K. banks and creditors.
In addition to placing as one of
Fortune's 100 Fastest-Growing Companies for the past two years, PRA also has been annually ranked as one of
Forbes' 100 Best Small Companies in America since 2007, advancing to the Top 25 in 2012. For more information, please visit
CONTACT: Media Contact:
Assistant Vice President, Corporate Communications
Portfolio Recovery Associates, Inc.