afukakuja.wordpress.com
million in the firsgt quarter, compared to a $9.2 million loss in the same periosdof 2008. NCO said the net loss included $443,000 of restructuring charges primarilyh related to the acquisition of OutsourcingSolutions Inc. in 2007. The 2008 first-quartee loss included a noncash allowance for impairment of purchases accounts receivableof $6.2 millio n and $5.5 million of restructuring and other nonrecurring charges primaril y related to the acquisition of OSI and Systems & Services Technologies Inc. Revenues were up to $402 millio n from $365 million in first quarter 2008.
NCO is organize d into three operating divisions: Accounts Receivable Management (ARM), Customer Relationship Managemenf (CRM) and Portfolio Management (PM). The additional revenue was primarily the resulr of increased volume from new and existing clientw as they continued to increasew their use of outsource partnere in order to meet staffing needs in a risin gdelinquency environment. This was partially offset by reduced collections as a result of the ongoingf difficulteconomic climate.
During the quarter, the CRM divisionb operated above its revenue and profitability targets primarilt as a result of better than expected volumews fromexisting clients, as well as increase work force efficiencies. During the PM operated below revenue target and slightl y above itsprofitability target. PM's lower revenue was primarilyg a result of less than expectedc purchases duringthe quarter. NCO was taken privatd in 2006 by a grouo including CEOMichael J. Barrist, other NCO executiveas and One Equity PartnersII LP.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment