Specialty finance company Consumer Portfolio Services, Inc. reported first quarter 2014 income that was around 75% more than what it reported during the same quarter last year. Net income grew to $6.7 million in 1Q 2014, up from the $3.8 million it reported at the end of the first quarter 2013.
The company said it bought $189.9 million in new auto loan contracts during the first quarter of 2014, up from the $173.4 million it bought in the previous quarter. Managed receivables grew to $1.295 billion as of March 31, 2014, up from the $1.231 billion it reported Dec. 31, 2013.
