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Credit Acceptance Corporation Announces: - 4th Quarter Earnings - 2002 Earnings
Jan 31, 2003
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Southfield, Michigan - January 31, 2003 - Credit Acceptance Corporation (NASDAQ:CACC) Credit Acceptance Corporation (the "Company") announced consolidated net income for the three months ended December 31, 2002 of $5,406,000 or $0.13 per diluted share compared to $7,240,000 or $0.17 per diluted share for the same period in 2001. For the year ended...
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Credit Acceptance Corporation Announces 3rd Quarter Earnings
Oct 23, 2002
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Southfield, Michigan – October 23, 2002 – Credit Acceptance Corporation (NASDAQ:CACC) Credit Acceptance Corporation (the “Company”) announced consolidated net income for the three months ended September 30, 2002 of $9,431,000 or $0.22 per diluted share compared to $7,645,000 or $0.18 per diluted share for the same period in 2001. For the nine mont...
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Credit Acceptance Corporation Announces Completion of $75 Million Secured Financing
Oct 3, 2002
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Southfield, Michigan – October 3, 2002 – Credit Acceptance Corporation (Nasdaq: CACC) announced today the completion of a $75 million non-recourse secured financing, its eighth asset-backed financing. Pursuant to this transaction, the Company contributed dealer advances having a net book value of approximately $109 million to a wholly owned specia...
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Credit Acceptance's Practice Regarding Stock Options
Sep 23, 2002
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In 1999, the Company began granting performance-based stock options to employees. Performance-based options are options that vest solely based on the achievement of performance targets, in the Company's case targets based on either earnings per share or economic profit. GAAP requires companies to expense performance-based options when it is likely ...
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Credit Acceptance Announces 2nd Quarter Earnings
Jul 17, 2002
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Southfield, Michigan – July 17, 2002 – Credit Acceptance Corporation (NASDAQ:CACC) Credit Acceptance Corporation (the “Company”) announced consolidated net income for the three months ended June 30, 2002 of $8,550,000 or $0.20 per diluted share compared to $7,729,000 or $0.18 per diluted share for the same period in 2001. For the six months ended ...
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Credit Acceptance Corporation Renews $135,000,000 Revolving Credit Agreement
Jun 10, 2002
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Southfield, Michigan – June 10, 2002 – Credit Acceptance Corporation (Nasdaq: CACC)
announced today that it has completed the renewal of its $135 million credit agreement with a group of commercial banks. Borrowings under the facility will continue to bear interest at the bank’s prime rate or 1.4% over the Eurocurrency rate at the Company’s opti...
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Credit Acceptance Announces Expansion of Stock Repurchase Program
May 20, 2002
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Southfield, Michigan – May 20, 2002 - Credit Acceptance Corporation (Nasdaq: CACC) announced today that its Board of Directors has authorized an increase in the Company’s stock repurchase program from the 5,000,000 common shares previously authorized to 6,000,000 shares. The Company through May 17, 2002 had repurchased a total of 4,760,000 common ...
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Credit Acceptance Announces 1st Quarter Earnings
Apr 17, 2002
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Southfield, Michigan – April 17, 2002 – Credit Acceptance Corporation (NASDAQ:CACC) Credit Acceptance Corporation (the “Company”) announced consolidated net income for the quarter ended March 31, 2002 was $6,314,000 or $0.15 per diluted share compared to $6,589,000 or $0.15 per diluted share for the same period in 2001. After adjustments related t...
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Credit Acceptance Corporation Announces Increase in Revolving Credit Facility and Addition to Board of Directiors
Mar 7, 2002
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Southfield, Michigan – March 7, 2002 – Credit Acceptance Corporation (NASDAQ:CACC) Credit Acceptance Corporation (the “Company”) announced that it has increased its revolving credit facility with a group of commercial banks from $120 million to $135 million. Borrowings under the facility will continue to bear interest at the bank’s pr...
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Credit Acceptance Signs 260 New Dealer-Partners in 2001
Feb 12, 2002
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SOUTHFIELD, Mich., Feb 12, 2002 (BUSINESS WIRE) -- Credit Acceptance Corporation (NASDAQ: CACC) approved 260 dealer-partners to enter its nationwide network in 2001.Credit Acceptance provides its network of dealer-partners with financing sources for consumers who want to buy an automobile, but have limited access to credit. With the addition of the...
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Credit Acceptance Corporation Reports
4TH Quarter Earnings of $7,241,000 or $0.17 per share
2001 Earnings of $29,203,000 or $0.68 per Share
Jan 23, 2002
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Southfield, Michigan - January 23, 2002 -Acceptance Corporation (Nasdaq: CACC) Credit Acceptance Corporation (the "Company") announced today that consolidated net income for the three months ended December 31, 2001 was $7,241,000 or $0.17 per diluted share compared to $5,667,000 or $0.13 per diluted share for the same period in 2000, representing 2...
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Credit Acceptance Corporation Appoints Brett Roberts
Chief Executive Officer
Dec 31, 2001
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Southfield, Michigan – December 31, 2001 – Credit Acceptance Corporation (Nasdaq: CACC) announced today that, effective January 1, 2002, Brett Roberts will succeed Don Foss as Chief Executive Officer of the company. Don Foss will remain Chairman and maintain an active role at the company with a focus on dealer relations.Roberts, age 35...
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Credit Acceptance Corporation Reports Resignation of Matt
Dec 11, 2001
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Southfield, Michigan – December 12, 2001 – Credit Acceptance Corporation (NASDAQ: CACC) reported today that Matt Hilzinger has resigned from his position as Executive Vice President and Chief Financial Officer for personal reasons. Doug Busk, the Company’s former Chief Financial Officer and current Treasurer, will replace Mr. Hilzinger. ...
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Credit Acceptance Corporation Announces
Completion of $62 Million Secured Financing
Nov 5, 2001
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today the completion of a $62 million non-recourse secured financing, its seventh asset backed financing. Pursuant to this transaction, the Company contributed dealer advances having a net book value of approximately $96 million to a wholly owned special purpose corporation (the “SPC”) and received approximately $62 million in financing from the ...
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Credit Acceptance Corporation Announces Completition of $61 Million Secured Financing
Jul 23, 2001
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Southfield, Michigan – July 23, 2001 – Credit Acceptance Corporation (Nasdaq: CACC) announced
today the completion of a $61 million non-recourse secured financing. Pursuant to this transaction, the Company contributed dealer advances having a net book value of approximately $77 million to a wholly-owned special purpose corporation (the “SPC”) a...
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Credit Acceptance Corporation Announces Addition of Executive Vice President - Finance and Addition to Board of Directors
Jun 27, 2001
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Southfield, Michigan – June 27, 2001 – Credit Acceptance Corporation (Nasdaq: CACC) today announced the appointment of Matthew F. Hilzinger to the newly created position of Executive Vice President – Finance. Hilzinger will report to Brett A. Roberts, the Company’s Chief Operating Officer, and direct the Company’s worldwide finance and accounting ...
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Credit Acceptance Corporation Completes
$120,000,000 Revolving Credit Agreement
Jun 11, 2001
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Southfield, Michigan – June 11, 2001 – Credit Acceptance Corporation (Nasdaq: CACC)
announced today that it has completed a $120 million credit agreement with a group of commercial banks which will replace its current $115 million credit facility. Borrowings under the facility will bear interest at the bank’s prime rate or 1.4% over the Eurocurr...
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Credit Acceptance Corporation Completes
$120,000,000 Revolving Credit Agreement
Jun 11, 2001
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Southfield, Michigan – June 11, 2001 – Credit Acceptance Corporation (Nasdaq: CACC)
announced today that it has completed a $120 million credit agreement with a group of commercial banks which will replace its current $115 million credit facility. Borrowings under the facility will bear interest at the bank’s prime rate or 1.4% over the Eurocurr...
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Credit Acceptance Corporation Announces Completion of $97.1 Million Secured Financing
Mar 13, 2001
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Southfield, Michigan – March 13, 2001 – Credit Acceptance Corporation (Nasdaq: CACC) announced
today the completion of a $97.1 million non-recourse secured financing. Pursuant to this transaction, the Company contributed dealer advances having a net book value of approximately $128 million to a wholly-owned special purpose corporation (the “SPC...
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Credit Acceptance Corporation Reports 2000 Earnings
of $23,650,000 OR $0.53 per Diluted Share Fourth Quarter Earnings of $5,667,000 or $0.13 per Diluted Share
Jan 24, 2001
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Southfield, Michigan – January 24, 2001 – Credit Acceptance Corporation (Nasdaq: CACC) announced today that consolidated net income for the quarter ended December 31, 2000 was $5,667,000 or $0.13 per diluted share compared to $3,805,000 or $0.08 per diluted share for the same period in 1999. For the year ended December 31, 2000, consolidated net i...
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