Consolidation and Changed Product Offerings Within Lending Businesses Are Among the Results of Economic Turmoil and Subsequent Legislation and Regulation, Industry Analyst Says

67 WALL STREET, New York - August 26, 2009 - The Wall Street Transcript has just published its Consumer Finance Report offering a timely review of the sector to serious investors and industry executives. This 30 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Weak Growth -- Spending Volumes -- Legislative Changes -- Credit Industry -- Bank Regulations -- Stabilization and Restructuring -- Credit Availability -- Future Profitability -- Pawn Industry -- Consumer Credit Quality -- Working Through the Deleveraging Process Companies include: Visa (V); Mastercard (MA); Capital One (COF); Discover (DFS); American Express (AXP); SLM Corp. (SLM); Cash America (CSH); Dollar Financial (DLLR); Advanta (ADVNB); CIT (CIT); SLM (SLM); CapitalSource (CSE); NewStar Financial (NEWS); AmeriCredit (ACF); H&R Block (HRB); Portfolio Recovery Associates (PRAA) In the following brief excerpt from just one of the 5 detailed interviews in the 30 page report, industry analyst Moshe Orenbuch, Managing Director at Credit Suisse, discusses the outlook for the Consumer Finance sector and picks high return stocks with sustainable dividends for investors in this industry. TWST: With all the turmoil in the economy, has the landscape for consumer lending companies changed dramatically? Mr. Orenbuch: Yes. It's changed in every category of lending. The credit card has had record levels of losses. There is re...
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CONSUMER PORTFOLIO SERVICES INC Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue58,321  66,050  74,613  91,716  Cost of Revenue18,242   -  10,050  12,456  Gross Profit40,079  66,050  64,563  79,260  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative(1,625)18,191  23,708  10,884  Non Recurring -   -  (13,963)13,963  Others18,685  16,237  56,817  26,088  Total Operating Expenses -   -   -   -  Operating Income or Loss23,019  31,622  (1,999)28,325  Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes23,019  31,622  (1,999)28,325  Interest Expense28,972  32,131  35,301  40,963  Income Before Tax(5,953)(509)(37,300)(12,638)Income Tax Expense -   -  (13,932)(6,312)Minority Interest -   -   -   -  Net Income From Continuing Ops(5,953)(509)(23,368)(6,326)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   - ...
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CONSUMER PORTFOLIO SERVICES INC Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rul

Show all filings for CONSUMER PORTFOLIO SERVICES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for CONSUMER PORTFOLIO SERVICES INC 21-Sep-2009Notice of Delisting or Failure to Satisfy a Continued Listing Rul Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All inform...
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Consumer Portfolio Services, Inc. Receives Deficiency Notice From Nasdaq

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CPS Announces New Servicing Portfolio

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CONSUMER PORTFOLIO SERVICES INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct

Show all filings for CONSUMER PORTFOLIO SERVICES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for CONSUMER PORTFOLIO SERVICES INC 1-Oct-2009Entry into a Material Definitive Agreement, Creation of a Direct Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-665...
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Consumer Portfolio Services Announces New Credit Facility

IRVINE, CA--(Marketwire - 09/29/09) - Consumer Portfolio Services, Inc. (NASDAQ:CPSS - News) ("CPS" or the "Company") today announced that on September 25, 2009 it entered into a $50 million two-year credit facility with Fortress Credit Corp., an affiliate of Fortress Investment Group. Loans under the facility will be secured by automobile receivables that CPS now holds or will purchase from dealers. "We are very pleased with this new facility as it will allow us to begin growing our new contract originations again," said Charles E. Bradley, Jr., Chief Executive Officer. "During the credit crisis over the last year and with the lack of other credit facilities, we have focused on preserving liquidity. As a result, so far this year we have purchased only nominal amounts of new contracts. With this financing we will be able to take advantage of what we believe is a tremendous market opportunity, as many former competitors have exited the industry."About Consumer Portfolio Services, Inc.Consumer Portfolio Services, Inc. is a specialty finance company engaged in purchasing and servicing new and used retail automobile contracts originated primarily by franchised automobile dealerships and, to a lesser extent, by select independent dealers of used automobiles in the United States. We serve as an alternative source of financing for dealers, facilitating sales to sub-prime customers, who have limited credit history, low income or past credit problems and who otherwise might not be able to obtain financing from traditional sourc...
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CPS Reports 2009 Third Quarter Operating Results

IRVINE, CA--(Marketwire - 11/16/09) - Consumer Portfolio Services, Inc. (NASDAQ:CPSS - News) ("CPS" or the "Company") today announced operating results for its third quarter ended September 30, 2009. Total revenues for the third quarter of 2009 were $52.8 million, a decrease of approximately $38.9 million, or 42.4%, compared to $91.7 million for the third quarter of 2008. Total operating expenses for the third quarter of 2009 were $57.1 million, a decrease of $47.3 million, or 45.3%, as compared to $104.4 million for the 2008 period.Pretax loss for the third quarter of 2009 was $(4.3) million compared to pretax loss of $(12.6) million in the third quarter of 2008. Net loss for the third quarter of 2009 was $(4.3) million, or $(0.23) per diluted share, compared to net loss of $(6.3) million, or $(0.32) per diluted share, for the year-ago quarter. The 2008 period included a pretax loss on sale of receivables of $14.0 million.For the nine months ended September 30, 2009, total revenues were $177.2 million, a decrease of approximately $116.6 million, or 39.7%, compared to $293.8 million for the nine months ended September 30, 2008. Total expenses for the nine months ended September 30, 2009 were $188.0 million, a decrease of $112.0 million, or 37.3%, as compared to $300.0 million for the nine months ended September 30, 2008.Pretax loss for the nine months ended September 30, 2009 was ($10.8) million, compared to pretax loss of $(6.2) million for the nine months ended September 30, 2008. Net loss for the nine months...
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CONSUMER PORTFOLIO SERVICES INC Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Overview We are a specialty finance company. Our business is to purchase and service 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. Through our automobile contract purchases, we provide indirect financing to the customers of dealers who have limited credit histories, low incomes or past credit problems, who we refer to as sub-prime customers. We serve as an alternative source of financing for dealers, facilitating sales to customers who otherwise might not be able to obtain financing from traditional sources, such as commercial banks, credit unions and the captive finance companies affiliated with major automobile manufacturers. In addition to purchasing installment purchase contracts directly from dealers, we have also (i) acquired installment purchase contracts in three merger and acquisition transactions, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) originated ourselves an immaterial amount of vehicle purchase money loans by lending money directly to consumers. In this report, we refer to all of such contracts and loans as "automobile contracts." We were incorporated and began our operations in March 1991. From inception through September 30, 2009, we have purchased a total of approximately $8.7 billion of automobile contracts from dealers. In addition, we obtained a total of approximately $605.0 million of automobile contracts in mergers and acquisitions we made in 2002, 2003 and 2004. Unlike recent prior years, our managed portfolio decreased in 2009 from the previous year due to our strategy of decreasing contract purchases to conserve our liquidity in response to adverse economic conditions as discussed further below...
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Consumer Portfolio Services Earnings Call scheduled for 1:30 pm ET today

Call DetailsConsumer Portfolio Services Earnings Conference Call (Q3 2009)Tue, Nov 17, 2009, 1:30 pm EasternAbout Consumer Portfolio Services (NasdaqGM:CPSS)Other Calls Consumer Portfolio Services, Inc., a specialty finance company, engages in purchasing and servicing retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers of new and used automobiles, light trucks, and passenger vans in the United States. The company, through its automobile contract purchases, provides indirect financing to the sub-prime customers of dealers, who have limited credit histories, low incomes, or past credit problems. As of December 31, 2008, the company had agreements with approximately 364 dealers in 43 states. It also provides services for the automobile contracts from its servicing branches in California, Virginia, Florida, and Illinois. The company was founded in 1991 and is headquartered in Irvine, California.More Info:Quote |Chart |News |Profile |Reports |Research |SEC |Msgs |Insider | Financials...
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