Consumer Portfolio Services (CPSS) Reports Q2 Earnings

July 15, 2008 6:08 PM EDT

Consumer Portfolio Services, Inc. (Nasdaq: CPSS) reports Q2 EPS of $0.08, in-line with estimates. Total revenues were $98.8 million vs. $102.16 million consensus.

Annualized net charge-offs during the first half of 2008 were 6.75% of the average owned portfolio as compared to 4.60% during the same period in 2007. Delinquencies greater than 30 days (including repossession inventory) were 6.12% of the total owned portfolio as of June 30, 2008, as compared to 4.85% as of June 30, 2007.

Consumer Portfolio Services, Inc. (CPS) is engaged in purchasing and servicing retail automobile contracts originated primarily by franchised automobile dealers and, to a lesser extent, by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.[SM]

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