Portfolio Recovery Associates Q4 Profit Up - Quick Facts

(RTTNews) - Portfolio Recovery Associates Inc. (PRAA) Wednesday reported fourth-quarter profit of $45.78 million or $0.91 per share, up from $35.80 million or $0.70 per share in the same period last year.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $184.85 million from $154.25 million last year. Analysts expected revenues of $185.95 million.

Additionally, the company has announced agreement to acquire Aktiv Kapital AS, a Norway-based company specializing in the acquisition and servicing of non-performing consumer loans throughout Europe and in Canada, for approximately $880 million.

The company will also assume approximately $435 million of its corporate debt, resulting in an acquisition of estimated total enterprise value of $1.3 billion.

"With Aktiv Kapital further diversifying our portfolio, PRA expects to meet or exceed our twin goals of 20% ROE and 15% EPS growth, delivering long-term shareholder value through the years ahead," said Steve Fredrickson, Chairman, President and CEO.