Outsourcing Solutions Inc. (OSI), announced total revenues for the quarter ending September 30, 2000 of $133.9 million, an 8.9% increase from $123.0 million in fiscal 1999 (15.8% revenue increase adjusted for the impact of off-balance sheet portfolio purchasing activity). Operating earnings before nonrecurring expenses for the quarter were $11.4 million, up 37.3% from $8.3 million in 1999.
For the first nine months, revenues were $404.5 million, up 6.4% from $380.1 million in 1999 (10.4% increase adjusted for the impact of off-balance sheet portfolio purchasing activity). Operating earnings before nonrecurring expenses for the first nine months increased to $33.8 million from $27.4 million in 1999 – up 23.4%.
Commenting on the results for the third quarter, Timothy G. Beffa, President and Chief Executive Officer of OSI, said, ?Our third quarter operating results, up 37%, reflect continued revenue growth and operational improvements throughout most of our businesses, particularly in our healthcare, government, letter series, portfolio and outsourcing services. The realignment initiatives which were implemented earlier in the year were substantially completed during this quarter. We believe this realignment will continue to show benefits, particularly in our ability to efficiently and effectively serve our customers.?
View this content by subscribing
Please register to unlock this content
I already have an account. Log in
