CompuCredit reported fourth quarter 2004 net income attributable to common shareholders of $27.0 million, or $0.54 per diluted share, as compared to its fourth quarter 2003 net income attributable to common shareholders of $10.8 million, or $0.23 per diluted share. These 2004 results are net of CompuCredit’s $9 million charitable contribution (which reduced net income by $0.11 per diluted share) during the fourth quarter under the 2004 CompuCredit Corporation Charitable Designation Program.
The net interest margin was 20.2 percent in the fourth quarter of 2004, as compared to 22.1 percent for the fourth quarter of 2003. The adjusted charge-off rate was 8.4 percent in the fourth quarter of 2004, as compared to 7.8 percent for the fourth quarter of 2003. Also, as of December 31, 2004, the 60-plus day delinquency rate was 10.4 percent, as compared to 12.0 percent as of December 31, 2003.
CompuCredit is a specialty finance company and marketer of branded credit cards and related financial services. CompuCredit provides these services to consumers who are underserved by traditional financial institutions. Through corporate and affinity contributions focused on the underserved and un-banked communities, CompuCredit also uses its financial resources and volunteer efforts to address the numerous challenges affecting its customers.
For more information about CompuCredit’s latest performance visit CardData ([www.carddata.com]).