CPS Announces Third Quarter 2012 Earnings

  • Net income of $2.7 million, or $0.11 per share
  • New contract purchases of $143 million
  • Total managed portfolio increases to $845 million from $806 million in June 2012

IRVINE, Calif., Oct. 15, 2012 (GLOBE NEWSWIRE) -- Consumer Portfolio Services, Inc. (Nasdaq:CPSS) ("CPS" or the "Company") today announced earnings of $2.7 million, or $0.11 per diluted share, for its third quarter ended September 30, 2012. This compares to a net loss of $4.0 million, or $0.20 per diluted share, in the third quarter of 2011. Earnings for the first nine months of 2012 were $4.6 million, or $0.19 per diluted share, as compared to a net loss of $14.7 million, or $0.78 per diluted share, for the same period in 2011.

Revenues for the third quarter of 2012 were $47.9 million, an increase of approximately $14.1 million, or 42%, compared to $33.8 million for the third quarter of 2011. Total operating expenses for the third quarter of 2012 were $45.2 million, an increase of $7.3 million, or 19%, compared to $37.9 million for the 2011 period. Pretax income for the third quarter of 2012 was $2.7 million compared to pretax loss of $4.0 million in the third quarter of 2011.

For the nine months ended September 30, 2012 total revenues were $136.6 million compared to $97.4 million for the nine months ended September 30, 2011, an increase of approximately $39.2 million, or 40%. Total expenses for the nine months ended September 30, 2012 were $132.0 million, an increase of $20.0 million, or 18%, compared to $112.1 million for the nine months ended September 30, 2011. Pretax income for the nine months ended September 30, 2012 was $4.6 million, compared to pretax loss of $14.7 million for the nine months ended September 30, 2011.

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