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SEARCHFORT WORTH, Texas--AmeriCredit Corp. announced Thursday a net income of $63.8 million for the third fiscal quarter ending March 31. Earnings for the same period last year totaled $18.9 million.
FORT WORTH, Texas--AmeriCredit Corp. announced Thursday a net income of $63.8 million for the third fiscal quarter ending March 31. Earnings for the same period last year totaled $18.9 million.
The company's new growth plan resulted in auto loan purchases of $953.8 million in the third quarter, compared to $700 million the previous quarter. The plan targets loan origination levels of $1 billion per quarter by the end of the fiscal year.
"We had a very good March quarter," said AmeriCredit Chief Executive Officer Clifton Morris. "Our loan volume under the company’s new growth plan was right on target, and credit results were better than we expected. When combined, the result was a significant increase in net income for the quarter."
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