NORFOLK, VA, Sep 27, 2010 (MARKETWIRE via COMTEX) --
Kevin Stevenson, chief financial and administrative officer, and Neal Stern, chief operating officer - Owned Portfolio, of Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) will present to the investment community at the JMP Securities Financial Services and Real Estate Conference. The Portfolio Recovery Associates (PRA) executives will present at 12 Noon (EDT), Sept. 29, 2010, at The New York Palace, 455 Madison Avenue, in New York City.
Portfolio Recovery Associates, Inc., through its subsidiaries, purchases, collects and manages portfolios of defaulted and bankrupt consumer receivables and provides a broad range of receivables management and payments processing services. During the course of this event, PRA may disclose material developments affecting its business and/or financial performance.
On the day of the conference, a copy of the slide presentation will be provided on the Investor Relations page of the PRA website at www.portfoliorecovery.com, under Event Calendar.
About Portfolio Recovery Associates, Inc. Portfolio Recovery Associates' business revolves around the detection, collection, and processing of both unpaid and normal-course receivables originally owed to credit grantors, governments, retailers and others. The Company's primary business is the purchase, collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators, which include banks, credit unions, consumer and auto finance companies, and retail merchants. Portfolio Recovery Associates also provides fee-based services, including collateral-location services for credit originators via its IGS subsidiary, revenue administration, audit and debt discovery/recovery services for government entities through both its RDS and MuniServices businesses and class action claims recovery services and related payment processing through its CCB subsidiary.
Statements herein which are not historical, including Portfolio Recovery Associates' or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, including future revenue and earnings growth, statements with respect to future contributions of its subsidiaries to earnings and future portfolio-purchase opportunities, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include references to Portfolio Recovery Associates' presentations and web casts. The forward-looking statements in this press release are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account currently available information. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known to us. Actual events or results may differ from those expressed or implied in any such forward-looking statements as a result of various factors, including the risk factors and other risks that are described from time to time in the Company's filings with the Securities and Exchange Commission including but not limited to its annual reports on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, filed with the Securities and Exchange Commission and available through the Company's website, which contain a more detailed discussion of the Company's business, including risks and uncertainties that may affect future results. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Information in this press release may be superseded by more recent information or statements, which may be disclosed in later press releases, subsequent filings with the Securities and Exchange Commission or otherwise. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statements are based, in whole or in part.
Investor Relations Contact:
James D. Fike
Vice President, Finance & Accounting
757-519-9300, ext. 13010
info@portfoliorecovery.com
Media Relations Contact:
Tanya M. Madison
Vice President, Corporate Communications
757-961-3525
tmmadison@portfoliorecovery.com
SOURCE: Portfolio Recovery Associates, Inc.
mailto:info@portfoliorecovery.com
mailto:tmmadison@portfoliorecovery.com