NCO Group reported that first quarter net income dropped 31% year-on-year to $10.5 million, due to special charges of $3.4 million. The special charges are associated with the previously announced restructuring of the Company’s legacy operations to streamline the Company’s cost structure and the integration of recent acquisitions. Overall revenue in the first quarter was $311.7 million, an increase of 19.7%, or $51.4 million, from the first quarter of 2005. ARM North America’s revenue was $229.1 million as compared to $198.4 million in the first quarter of 2005. The increase was primarily attributable to the acquisition of Risk Management Alternatives. For complete details on NCO’s first quarter results visit CardData ([www.carddata.com]).