NCO Group, a Horsham, Pa.-based accounts receivable management company, reported Monday a 4% revenue increase to $304 million for the third quarter ended Sept. 30.
The company reported that in April and August it had divested most of the debt portfolios left in its Portfolio Management unit, the company's former debt-buying arm. NCO had chosen to exit the portfolio management business to instead focus on its two remaining divisions: Accounts Receivable Management and Customer Relationship Management.
NCO's adjusted EBITDA for the third quarter was $37.1 million, up 16% from the year-ago period. The net loss was $28.5 million in the most recent quarter, compared to a net loss of $33.5 million in the same period a year ago.
NCO is the largest accounts receivable management firm based on total revenue, according to Collections & Credit Risk estimates and research.
