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NCO Group Inc. on Friday reported a net loss of $5.2 million for the second quarter ended June 30; the accounts receivable management company reported a net loss of $14.8 million during the same period last year. Horsham, Pa.-based NCO reported revenues of $378.6 million, down 6.5% from $405 million, according to a company filing with the U.S. Securities and Exchange Commission. NCO ranks as the top collection agency in CardLine sister publication Collections & Credit Risk's 2009 industry rankings with nearly $1.5 billion in 2008 revenue. "The second quarter presented many challenges as we began to experience volume reductions from clients as a result of declines in credit card activity and continued weakness in general consumer-spending patterns," Michael J. Barrist, NCO chairman and CEO, said of the company's earnings. The company's accounts receivable management division posted second-quarter net income of $16.5 million, a 16.7% decrease from $19.8 million during the same period a year ago. NCO also 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 $2.3 million. That compares with a net loss of $18.2 million during the same period last year.
