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Well the credit crunch hit the Auto section as predicted..Now to find the new range to play with this one..lol
AmeriCredit Reports Second Quarter Operating Results
- 2nd quarter net loss of $19 million, $0.17 per share
- Increased loan loss reserves through higher provision for loan losses
- FY08 originations target reduced to $6.5 to $7.0 billion
- FY08 earnings guidance updated
FORT WORTH, Texas, Jan. 22, 2008 /PRNewswire-FirstCall/ -- AMERICREDIT CORP. (NYSE: ACF) today announced a net loss of $19 million, or $0.17 per share, for its second fiscal quarter ended December 31, 2007, versus earnings of $95 million, or $0.74 per share, for the same period a year earlier. For the six months ended December 31, 2007, AmeriCredit reported net income of $43 million, or $0.35 per share, versus earnings of $170 million, or $1.27 per share, for the six months ended December 31, 2006. Operating results include Long Beach Acceptance Corp. since its acquisition on January 1, 2007.
Net income for the three and six months ended December 31, 2006, included a $23 million after-tax gain ($36 million pre-tax), or $0.18 per share and $0.17 per share, respectively, related to the partial sale of AmeriCredit's investment in DealerTrack Holdings, Inc.
Automobile loan purchases increased to $1.80 billion for the three months ended December 31, 2007, compared to $1.74 billion for the same quarter last fiscal year. Loans purchased for the six months ended December 31, 2007, were $4.19 billion compared to $3.42 billion for the same period a year earlier. Managed receivables totaled $16.35 billion at December 31, 2007, compared to $12.58 billion at December 31, 2006.
Annualized net charge-offs totaled 6.9% of average managed receivables for the December 2007 quarter compared to 5.8% for the December 2006 quarter. For the six months ended December 31, 2007, annualized net charge-offs were 6.2% compared to 5.6% for the same period last year.
Managed receivables 31-to-60 days delinquent were 6.8% of the portfolio at December 31, 2007, compared to 6.7% at December 31, 2006. Accounts more than 60 days delinquent were 3.0% of the portfolio at December 31, 2007, compared to 2.6% a year ago.
'The December quarter was challenging on many fronts, with weaker credit performance and uncertainty in the capital markets. As a result, we have revised our operating plans to align our loan volume with available capital resources,' said AmeriCredit President and Chief Executive Officer Dan Berce. 'Over the next several months, we will bring our originations infrastructure and overhead into alignment with our revised originations target.'
Good Lord Man!! Look at this!!! They picked up over 20M Shares!!
http://www.americredit.com/investors/SEC_Document.asp?URL=http://ccbn.10kwizard.com/xml/filing.xml?repo=tenk@ipage=5399551@attach=ON
AmeriCredit to Webcast Conference Call on Second Quarter Operating Results
FORT WORTH, Texas, Jan. 3 /PRNewswire-FirstCall/ -- AMERICREDIT CORP. (NYSE: ACF) will release its second quarter 2008 operating results on Tuesday, Jan. 22, 2008, after market close. A conference call to discuss the results will begin at 5:30 p.m. Eastern time.
The conference call will be broadcast live for all interested parties via the Company's Web site at http://www.americredit.com. It is necessary to go to the Company's Web site to register, download and install any required audio software prior to the call. For those who cannot listen to the live broadcast, a replay will be available shortly after the call has concluded.
About AmeriCredit
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $16 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit http://www.americredit.com.
Contact:
Investor Relations Media Relations
Caitlin DeYoung John Hoffmann
(817) 302-7394 (817) 302-7627
SOURCE AmeriCredit Corp.
Source: PR Newswire (January 3, 2008 - 1:17 PM EST)
News by QuoteMedia
www.quotemedia.com
Just a heads up bro..Earnings report coming..May want to hold off on the dips under $10 for now until they put out the meat and potatoes..Hopefully the meat is bad and we can start playing it at a lower PPS..Based on the insider buying this past quarter I am only guessing their report is going to be good..Bummer! lol
Did you see the form 4 I posted..Someone decided to add 2M shares...
everytime!
lol 1 more time??
Under $10 again!
http://www.americredit.com/investors/SEC_Document.asp?URL=http://ccbn.10kwizard.com/xml/filing.xml?repo=tenk@ipage=5392193@attach=ON
Looks like they have faith in the upcoming quarterly report!
Look at this SQUUUUUEEEEEEEZZZZZZZZEEEEEEEEEEE
Looks like a short-term buy with a decisive close > 5-day EMA. Why? Stock starting to get oversold and today's candlestick appears to be a hammer. A confirmation would be a higher open on Thursday with yet a still higer close.
Look at her tumble today! Come on $10's!!!
AmeriCredit to Webcast Conference Call on Second Quarter Operating Results
FORT WORTH, Texas, Jan. 3 /PRNewswire-FirstCall/ -- AMERICREDIT CORP. (NYSE: ACF) will release its second quarter 2008 operating results on Tuesday, Jan. 22, 2008, after market close. A conference call to discuss the results will begin at 5:30 p.m. Eastern time.
The conference call will be broadcast live for all interested parties via the Company's Web site at http://www.americredit.com. It is necessary to go to the Company's Web site to register, download and install any required audio software prior to the call. For those who cannot listen to the live broadcast, a replay will be available shortly after the call has concluded.
About AmeriCredit
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $16 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit http://www.americredit.com.
Contact:
Investor Relations Media Relations
Caitlin DeYoung John Hoffmann
(817) 302-7394 (817) 302-7627
SOURCE AmeriCredit Corp.
Source: PR Newswire (January 3, 2008 - 1:17 PM EST)
News by QuoteMedia
www.quotemedia.com
Wish this thing would hurry up and get back to $10 so we can go on another ride!!$$
HUGE been trying to pull out what I can for my trip. RIMM helped me big time today!! This i save till Monday probably. Merry Christmas!!!
MONSTER DAY here to bro!! Have a super weekend! ACF and FRPT just paid for all my X-Mas presents!! SAWEEEETTT!!!$$$$
Still holding your $10's??
$$$More Green$$$$ Fed rate cut should move us further north..
May have another one bro..Stay tuned!!!$$$
a nice 2 money days$$ lets go for 3!!
Nice EOD bro...CHA CHING$$
IM IN got only 300 shares but at 10 bucks even nice!!!
I hope you grabbed some on that dip under $10 bro!
nice, im still watchin it, may pull the trigger here (as in cpss) soon.
Got my feet wet yesterday with CPSS bro..
oh yeah i know you like that who wouldn't!! i will listen later today to the webcast bro
See that share structure?? Nice!! They have not missed one quarter of earnings through all this credit crunch crap..Did you listen to the webcast? I rec you do..
already have that book marked been watching that too lol
http://investorshub.advfn.com/boards/board.asp?board_id=11345 Miniature Americredit bro! Look at the P/E Ratio!!
watchin, waitin;)
She is coming back down..Can we jump on and ride again!!
She breached $12!!!
damn bro i want my under 10 shares!!! up 1.20! :(
http://investorshub.advfn.com/boards/board.asp?board_id=11345 I set up a board and will DD it over the weekend and add info to the I-Box..Thanks again..Looks intresting
I sure will..Thanks!
Look at CPSS, PE at 2, same biz as ACF
Come on Blaze..Let's get this thing back down under $10!!
Hoping it pulls back..Looked like a short covering today...Want to reload!!
man wish i got to this on monday i was a day late for this move, not that there isn't still plenty of room here, p/e still under 5 and im trading RIMM like P/E of 80 LOL
And the P/E is still under 5!
woo hoo nice day!
Monster gain here today
yep nice find bro! will d ef watch and research a bit
Should have stopped by yesterday when the P/E was in the 3's!
hmmmmmmmmmmmm.... PE around 4 LOLLLLLLLLLLLLL, eps 2.50? can you say bargain? unless somehting is seriously wrong but why would there be insiders buying the crap out of this...?
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AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and more than $16 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com. Share Structure: Authorized Shares: 230 Million Outstanding Shares: 115.2 Million MAJOR SHAREHOLDERS Leucadia National Corporation 30,361,440 Shares 26.5% Fairholme Capital Management, L.L.C. 12,975,400 Shares 11.3% Credit Suisse 13,333,408 Shares 9.9% Past PR's: http://finance.yahoo.com/q/h?s=ACF Share Price: $7.89 7/3/2008 EPS: $1.30 P/E Raio: 6.07 52 Week High: $29.46 52 Week Low: $7.89 ______________________________________________________________________________________________________________________________ DISCLAIMER: Opinions expressed on this board are just that. Opinions. We are not a licensed brokers. Trading strategies discussed on this board are often high risk and not suitable everyone. If you are losing money in the market, you may wish to seek the advice of a licensed securities professional. No one is responsible for your gains or losses in the market except you. If you follow stocks, strategies discussed on this board, you may lose all your money. Please weigh the strategies discussed here carefully against what you are willing to risk. Please do your own due diligence before buying or selling any security in the open market, there are no guarantees.
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