EX-99 3 ex99-1.txt EXHIBIT 99.1
Exhibit 99.1 NCO GROUP, INC. Consolidating Statement of Income (Unaudited) (Amounts in thousands) For the Three Months Ended June 30, 2002 ---------------------------------------------------------------------- Intercompany NCO Group NCO Portfolio Eliminations Consolidated --------- ------------- ----------- -------------- Revenue $171,634 $ 14,108 $(8,064) $177,678 Operating costs and expenses: Payroll and related expenses 82,931 549 - 83,480 Selling, general and administrative expenses 60,136 9,271 (8,064) 61,343 Depreciation and amortization expense 6,446 75 - 6,521 -------- -------- ------- -------- 149,513 9,895 (8,064) 151,344 -------- -------- ------- -------- 22,121 4,213 - 26,334 Other income (expense): Interest and investment income 600 303 (116) 787 Interest expense (3,327) (1,752) 116 (4,963) 305 - 305 -------- -------- ------- -------- (2,422) (1,449) - (3,871) -------- -------- ------- -------- Income before income tax expense 19,699 2,764 - 22,463 Income tax expense 7,485 1,037 - 8,522 -------- -------- ------- -------- Income from operations before minority interest 12,214 1,727 - 13,941 Minority interest (1) - - (633) (633) -------- -------- ------- -------- Net income $ 12,214 $ 1,727 $ (633) $ 13,308 ======== ======== ======= ========
(1) NCO Group owns approximately 63% percent of the outstanding common stock of NCO Portfolio Management, Inc.
NCO GROUP, INC. Consolidating Statement of Income (Unaudited) (Amounts in thousands) For the Six Months Ended June 30, 2002 ---------------------------------------------------------------------- Intercompany NCO Group NCO Portfolio Eliminations Consolidated --------- ------------- ------------ -------------- Revenue $342,571 $ 30,378 $(16,364) $356,585 Operating costs and expenses: Payroll and related expenses 168,497 1,103 - 169,600 Selling, general and administrative expenses 119,846 18,934 (16,364) 122,416 Depreciation and amortization expense 12,597 150 - 12,747 -------- -------- -------- -------- 300,940 20,187 (16,364) 304,763 -------- -------- -------- -------- 41,631 10,191 - 51,822 Other income (expense): Interest and investment income 1,254 434 (234) 1,454 Interest expense (6,564) (3,619) 234 (9,949) (290) - (290) -------- -------- -------- -------- (5,600) (3,185) - (8,785) -------- -------- -------- -------- Income before income tax expense 36,031 7,006 - 43,037 Income tax expense 13,691 2,628 - 16,319 -------- -------- -------- -------- Income from operations before minority interest 22,340 4,378 - 26,718 Minority interest (1) - - (1,605) (1,605) -------- -------- -------- -------- Net income $ 22,340 $ 4,378 $ (1,605) $ 25,113 ======== ======== ======== ========
(1) NCO Group owns approximately 63% percent of the outstanding common stock of NCO Portfolio Management, Inc.