CPS Earnings Rise in 3Q
CPS announced its third quarter earnings last week, and President and CEO Charles Bradley took to the phones to discuss the results with analysts.
The lender earned $5.9 million, good for $0.19 per share. This is up from $2.7 million and $0.11 per share for the same quarter in 2012. Revenues for the quarter were $64.1 million, a 34% increase over the $47.9 million in revenues from the same quarter last year.
In the Q&A, Bradley said that CPS’s “geographic expansion plan has continued to work very well.”
He also noted that the firm kept its APRs at around 20%, and that CPS does “very little in terms of keeping up in the markets.”
A few other notes from the call:
-Bradley noted that it is taking longer for CPS to train new employees, and that all calls to the firm are being recorded and monitored for regulatory reasons.
– CPS expects to repay $37 million of debt owed to investment-management Levine Leichtman Capital Partners by June 2014.
-Bradley wouldn’t say if he expects to see EPS continue to climb next year, but that he does expect the firm to continue doing well.
CPS announced its third quarter earnings last week, and President and CEO Charles Bradley took to the phones to discuss the results with analysts.
The lender earned $5.9 million, good for $0.19 per share. This is up from $2.7 million and $0.11 per share for the same quarter in 2012. Revenues for the quarter were $64.1 million, a 34% increase over the $47.9 million in revenues from the same quarter last year.
In the Q&A, Bradley said that CPS’s “geographic expansion plan has continued to work very well.”
He also noted that the firm kept its APRs at around 20%, and that CPS does “very little in terms of keeping up in the markets.”
A few other notes from the call:
-Bradley noted that it is taking longer for CPS to train new employees, and that all calls to the firm are being recorded and monitored for regulatory reasons.
– CPS expects to repay $37 million of debt owed to investment-management Levine Leichtman Capital Partners by June 2014.
-Bradley wouldn’t say if he expects to see EPS continue to climb next year, but that he does expect the firm to continue doing well.
