Collection agency liquidating accounts
Thank you for joining us on our 2017 third quarter earnings conference call. We produced good cash results, increasing collections 3%.
We invested significant capital of 1 million, up 31% versus the third quarter of last year, increased estimated remaining collections by 4 million, executed well operationally, and expanded capacity for collectors in multiple locations.
Europe Core remains highly competitive and that effect, combined with a seasonally light third quarter for debt sales, contributed to our purchasing volume of million.
Let me be clear, however, we still see good seasonally adjusted flow broadly across Europe, but we continue to believe that there is a material portion of sales in Europe transacting at irrational pricing levels.
The earnings release and the slide presentation that we will use during today's webcast and call and our SEC filings can be found on the Investor Relations section of our website at
Cash collections in core Americas continue to increase versus last year's results. However, we are starting to see the composition of our portfolios, once again, begin to change.We're well underway with construction of our new call centers in Henderson, Nevada, and Burlington, North Carolina.And we have additionally expanded in new space near our corporate headquarters in Norfolk and in our Hampton locations. I would now like to turn the conference over to Ms. - Executive VP & CFO================================================================================Conference Call Participants================================================================================* Bose Thomas George Keefe, Bruyette, & Woods, Inc., Research Division - MD* Brian Dean Hogan William Blair & Company L. (Operator Instructions) As a reminder, this conference is being recorded.