NORFOLK, Va. (AP) _ PRA Group Inc. (PRAA) on Tuesday reported a fourth-quarter loss of $17.6 million, after reporting a profit in the same period a year earlier.
The Norfolk, Virginia-based company said it had a loss of 38 cents per share. Losses, adjusted for non-recurring costs, came to 33 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The debt collector posted revenue of $155.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $219.5 million.
For the year, the company reported profit of $85.1 million, or $1.83 per share. Revenue was reported as $830.6 million.
PRA Group shares have climbed slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.80, an increase of 67 percent in the last 12 months.
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