PRA Group, Inc. (NASDAQ:PRAA) Q4 2014 Earnings Conference Call - Final Transcript
Mar 02, 2015 • 04:30 pm ET
Good afternoon, and welcome to the PRA Group Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.
I would now like to turn the conference over to Ms. Darby Schoenfeld, Director of Investor Relations for PRA Group.
Thank you. Good afternoon, everyone, and thank you for joining us. With me today are Steve Fredrickson, our Chairman, President and CEO, who will give you an overview of the quarter and talk about the current market environment; Kevin Stevenson, Chief Financial and Administrative Officer, Treasurer and Assistant Secretary, who will take you through our financial results; and Neal Stern, Executive Vice President, Operations, who will give you an update on our core operations; Geir Olsen, Chief Executive Officer of PRA Group Europe will also be available to answer questions during Q&A.
The press release announcing our fourth quarter results was distributed this afternoon. Your news release is available on the internet section of our website at www.pragroup.com. A replay of this call will be available shortly after the conclusion. The information needed to listen to the replay is contained in the earnings press release.
I'd like to remind everyone that statements made by PRA Group on this call may constitute forward-looking statements under applicable securities laws. All statements other than statements of historical facts are considered forward-looking statements, including but not limited to, statements regarding PRA Group or its management's intentions, expectations, plans or projections for the future, receivable sellers returning to the market, future contributions of Aktiv Kapital and the timing and amount of future integration expenses, or our ability to fully realize the expected benefits of the acquisition, any of PRA Group subsidiaries ability to contribute to earnings or ability to increase market share or operational efficiency, potential impact of further lawmaking, rule making or regulatory activities on our industries practices, our ability to grow our Canadian and European operations, fees or purchasing volumes, future revenue trends in our insolvency business, future gains and losses related to foreign currency exchange, future tax expense, PRA's growth prospects or our ability to realize any tax benefit from restructuring our European business.
Actual events or results could differ materially from historical results or those expressed or implied in any forward looking statements as a result of various risks and uncertainties, some of which are not currently known to PRA Group or its management. These include the risk factors and other risks that are described from time to time in PRA Group's filings with the Securities and Exchange Commission, including PRA Group's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on form 8-K. Any such forward looking statements speak only as of the time they are made.
Except as required by applicable laws or regulations, PRA Group has no obligation to update any forward-looking statements to reflect events or circumstances that occur after the date they are made, whether result of new information, future events or otherwise. All comparisons mentioned today will be