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Condensed Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue        
Revenue from receivable portfolios, net $ 111,093 $ 91,845 $ 216,419 $ 174,752
Servicing fees and other related revenue 4,737 4,386 9,714 8,817
Total revenue 115,830 96,231 226,133 183,569
Operating expenses        
Salaries and employee benefits (excluding stock-based compensation expense) 20,212 16,484 39,252 31,969
Stock-based compensation expense 1,810 1,446 3,575 3,207
Cost of legal collections 40,686 31,235 77,195 57,668
Other operating expenses 9,191 9,027 19,287 18,141
Collection agency commissions 3,596 6,413 7,510 11,709
General and administrative expenses 9,623 7,425 19,792 14,304
Depreciation and amortization 1,105 752 2,158 1,425
Total operating expenses 86,223 72,782 168,769 138,423
Income from operations 29,607 23,449 57,364 45,146
Other (expense) income        
Interest expense (5,369) (4,880) (10,962) (9,418)
Other income (expense) 23 (90) 139 102
Total other expense (5,346) (4,970) (10,823) (9,316)
Income before income taxes 24,261 18,479 46,541 35,830
Provision for income taxes (9,486) (6,749) (18,087) (13,239)
Net income $ 14,775 $ 11,730 $ 28,454 $ 22,591
Weighted average shares outstanding:        
Basic 24,433 23,713 24,384 23,673
Diluted 25,610 24,958 25,594 24,897
Earnings per share:        
Basic $ 0.60 $ 0.49 $ 1.17 $ 0.95
Diluted $ 0.58 $ 0.47 $ 1.11 $ 0.91