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Consumer Portfolio Services, Inc. Message Board

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  • bengrahamvalueinvestor bengrahamvalueinvestor Jul 27, 2005 6:08 PM Flag


    You obviously do not understand what the company has done over the last couple of years. They changed their accounting methods from gain on sale to on balance sheet.....
    Take a look at their costs for their employees etc on the current quarter and compare it to last year's same quarter--the numbers are about the same! Yet they increase revenue by $15 million! Do you think that money disappeared?? NO! I is set aside for loan loss provisions. Incidently, deliquencies and write offs are near an all time low.

    I am extremely impressed with the top line growth. Everyone should be. By the time the bottom line peaks in a few years investors will have wanted to sell or lightened up 6-12 months beforehand. When the company stops growing the top line, the bottom line will catch up. This company is headed in the write direction. Do yourself a favor and listen to the conference call.

    Here are those numbers I referred to. Good Luck.
    Employee costs
    9,701 9,794 20,151 19,447
    General and administrative
    6,627 6,466 11,766 10,433
    11,948 7,500 22,332 13,412
    Provision for credit losses
    15,224 6,300 27,536 13,050
    Other expenses
    3,731 2,801 7,519 5,448

    47,231 32,861 89,304 61,790

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