Credit Acceptance Corporation (CACC) has reported a 25.40 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $93.30 million, or $4.72 a share in the quarter, compared with $74.40 million, or $3.63 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $92.30 million, or $4.67 a share compared with $82.30 million or $4.02 a share, a year ago.
Revenue during the quarter grew 15.31 percent to $262.80 million from $227.90 million in the previous year period.
Liabilities outpace assets growth
Total assets stood at $4,556.70 million as on Mar. 31, 2017, up 23.02 percent compared with $3,704 million on Mar. 31, 2016. On the other hand, total liabilities stood at $3,392.90 million as on Mar. 31, 2017, up 25.08 percent from $2,712.60 million on Mar. 31, 2016.
Net loans stood at $4,136 million as on Mar. 31, 2017, up 22.97 percent compared with $3,363.40 million on Mar. 31, 2016.
Investments stood at $46.70 million as on Mar. 31, 2017. Shareholders equity stood at $1,163.80 million as on Mar. 31, 2017, up 17.39 percent or $172.40 million from year-ago.
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