IMGCAP(1)]
NCO Group Inc., an accounts receivable management company, this week reported a net loss of $2.1 million for the first quarter ended March 31, compared with a net loss of $9.2 million during the same period a year ago. The net loss included $443,000 of restructuring charges primarily related to the acquisition of Outsourcing Solutions Inc., according to company officials. The $340 million acquisition closed March 1, 2008. NCO, based in Horsham, Pa., reported revenues of $402.1 million, a 10.3% increase from $364.6 million in the first quarter of 2008. NCO purchases bad debt, including charged-off Visa, MasterCard and private-label credit cards, from banks, finance companies and retailers in the United States, United Kingdom and Canada. NCO's debt-buying division reported a net loss of $774,000, compared with net income of $1.6 million a year earlier.
