Portfolio Recovery Reports Lower Earnings on Record Cash Collections

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Portfolio Recovery Reports Lower Earnings on Record Cash Collections
Debt purchaser and collector Portfolio Recovery Associates (Nasdaq: PRAA) said late Tuesday that net income for the second quarter of 2008 slipped 12 percent. But the company also said that it set a new record for cash collections in the quarter. The Norfolk, Va.-based accounts receivable management firm reported net income of $11.4 million in the second quarter, down 12 percent from the $13 mil
 
Topic: Debt Purchasing