Asset Acceptance Capital Corp. (NASDAQ: AACC), a leading purchaser and collector of charged-off consumer debt, today reported results for the quarter ended June 30, 2012. Second Quarter 2012 Financial Highlights During the second quarter of 2012, the Company invested $58.9 million to purchase charged-off consumer debt portfolioswith a face value of $1,985.5 million, for a blended rate of 2.97%. This compares to the prior-year second quarter, when the Company invested $49.3 million to purchase charged-off consumer debt portfolios with a face value of $1,598.4 million, for a blended rate of 3.08%. All purchase data is adjusted for buybacks. This quarter marks the Company’s highest purchasing quarter in four years. Cash collections for the second quarter of 2012 increased 3.0% compared to the prior year period to $91.9 million. Second quarter revenues were $58.7 million, an increase of 7.3% from the same period of the prior year. The Company reported net impairment reversals of $4.4 million versus net impairment reversals of $2.0 million in the prior year period. Operating expenses were $48.4 million representing an increase of $2.9 million or 6.3% from the prior year. Operating expenses increased as a result of the Company’s continued investment in its legal collections channel and an increase in the associated up-front costs. Cost to collect was 52.7%, up 160 basis points from last year. The Company reported net income of $3.7 million, or $0.12 per fully diluted share, during the second quarter of 2012, which matched the prior year amount. Adjusted Earnings Before Interest Taxes Depreciation and Amortization (“Adjusted EBITDA”) was $45.3 million, a 0.6% decline from $45.6 million in the second quarter of 2011. Rion Needs, President and CEO of Asset Acceptance Capital Corp, commented, “We are pleased with our overall performance in the quarter. We achieved our objective of significant increased purchasing during the quarter, which resulted in near record levels for the company.” Mr. Needs continued, “We also continued to execute incremental investments in our legal channel that, while dilutive to our near term results, will provide meaningful benefits in future liquidation and related profits.” First Six Months 2012 Financial Highlights For the six-month period ended June 30, 2012, the Company reported cash collections of $193.0 million compared to cash collections of $180.5 million in the first six months of 2011, an increase of $12.5 million, or 7.0%.