Metris Cos. has been taking some financial lumps, but its chief executive officer has lost no enthusiasm about the longer term.

"We reported record earnings in the third quarter," said Ronald N. Zebeck, who also is president of the company, a St. Louis Park, Minn., spinoff of Fingerhut Cos., that issues credit cards mainly to subprime borrowers. "The fundamentals of the business are solid."

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