AmeriCredit Corp. (ACF, Financial) filed Quarterly Report for the period ended 2012-09-30.
Americredit Corp. has a market cap of $1.3 billion; its shares were traded at around $0 .
Operating expenses as an annualized percentage of average earning assets decreased to 3.4% from 3.6% for the three months ended September 30, 2012 and 2011, respectively, due to efficiency gains resulting from the increase in average earning assets.
Finance charge income increased by 29.7% to $1,176.1 million for the nine months ended September 30, 2012, from $907.0 million for the nine months ended September 30, 2011, primarily due to the 14.3% increase in average consumer finance receivables combined with an increased yield on the pre-acquisition portfolio due to the transfer of excess cash flows from non-accretable discount to accretable yield. The effective yield on our consumer finance receivables increased to 15.3% for the nine months ended September 30, 2012, from 13.5% for the nine months ended September 30, 2011. The effective yield represents finance charges and fees recorded in earnings during the period as a percentage of average consumer finance receivables.
Operating expenses as an annualized percentage of average earning assets were 3.4% and 3.6% for the nine months ended September 30, 2012 and 2011, respectively, due to efficiency gains from the increase in average earning assets.
Read the The complete Report
Americredit Corp. has a market cap of $1.3 billion; its shares were traded at around $0 .
Highlight of Business Operations:
Finance charge income increased by 19.2% to $415.1 million for the three months ended September 30, 2012, from $348.3 million for the three months ended September 30, 2011, primarily due to the 14.9% increase in average consumer finance receivables combined with an increased yield on the pre-acquisition portfolio due to the transfer of excess cash flows from non-accretable discount to accretable yield. The effective yield on our consumer finance receivables increased to 15.5% for the three months ended September 30, 2012, from 14.9% for the three months ended September 30, 2011. The effective yield represents finance charges and fees recorded in earnings during the period as a percentage of average consumer finance receivables.Operating expenses as an annualized percentage of average earning assets decreased to 3.4% from 3.6% for the three months ended September 30, 2012 and 2011, respectively, due to efficiency gains resulting from the increase in average earning assets.
Finance charge income increased by 29.7% to $1,176.1 million for the nine months ended September 30, 2012, from $907.0 million for the nine months ended September 30, 2011, primarily due to the 14.3% increase in average consumer finance receivables combined with an increased yield on the pre-acquisition portfolio due to the transfer of excess cash flows from non-accretable discount to accretable yield. The effective yield on our consumer finance receivables increased to 15.3% for the nine months ended September 30, 2012, from 13.5% for the nine months ended September 30, 2011. The effective yield represents finance charges and fees recorded in earnings during the period as a percentage of average consumer finance receivables.
Operating expenses as an annualized percentage of average earning assets were 3.4% and 3.6% for the nine months ended September 30, 2012 and 2011, respectively, due to efficiency gains from the increase in average earning assets.
Read the The complete Report
