CPSS- SSK, this one looks interesting, and I really like all those insider buys, but I'm weighing your statement (when you first introduced this one in July) that charge-offs and delinquencies have SEQUENTIALLY DECREASED in Q2 compared to Q1, in comparison with the fact that charge-offs and delinquencies have actually been INCREASING significantly YEAR-OVER-YEAR. This suggests that the consumer is in fact having a harder time making payments. Could you say more about this if you have more information?
Let's compare the last three quarterly earnings reports (Q2, Q1, Q4)....
[Here is CPSS's statement for Q2 2014:]
Annualized net charge-offs for the second quarter of 2014 were 4.98% of the average owned portfolio as compared to 4.03% for the second quarter of 2013.
Delinquencies greater than 30 days (including repossession inventory) were 6.21% of the total owned portfolio as of June 30, 2014, as compared to 5.16% as of June 30, 2013. [???]
[Here is CPSS's statement for Q1 2014:]
Annualized net charge-offs for the first quarter of 2014 were 5.54% of the average owned portfolio as compared to 4.23% for the first quarter of 2013.
Delinquencies greater than 30 days (including repossession inventory) were 6.33% of the total owned portfolio as of March 31, 2014, as compared to 4.16% as of March 31, 2013.
[Here is CPSS's statement for Q4/Year 2013:]
Annualized net charge-offs for 2013 were 4.73% of the average owned portfolio as compared to 3.61% for 2012.
Delinquencies greater than 30 days (including repossession inventory) were 6.87% of the total owned portfolio as of December 31, 2013, as compared to 5.55% as of December 31, 2012.