PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited condensed consolidated financial statements for Q1 2019, covering balance sheets, operations, cash flows, equity, and accounting notes [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Unaudited Condensed Consolidated Balance Sheets - Assets (In thousands) | ASSETS (In thousands) | March 31, 2019 | December 31, 2018 | | :------------------------------------ | :------------- | :---------------- | | Cash and cash equivalents | $8,914 | $12,787 | | Restricted cash and equivalents | 135,508 | 117,323 | | Finance receivables, net | 1,296,164 | 1,454,709 | | Finance receivables measured at fair value | 997,552 | 821,066 | | Total Assets | $2,531,245 | $2,485,680 | Unaudited Condensed Consolidated Balance Sheets - Liabilities and Shareholders' Equity (In thousands) | LIABILITIES AND SHAREHOLDERS' EQUITY (In thousands) | March 31, 2019 | December 31, 2018 | | :-------------------------------------------------- | :------------- | :---------------- | | Accounts payable and accrued expenses | $54,804 | $31,692 | | Warehouse lines of credit | 117,104 | 136,847 | | Securitization trust debt | 2,109,024 | 2,063,627 | | Total Liabilities | 2,333,117 | 2,288,562 | | Total Shareholders' Equity | 198,128 | 197,118 | | Total Liabilities and Shareholders' Equity | $2,531,245 | $2,485,680 | [Unaudited Condensed Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Unaudited Condensed Consolidated Statements of Operations (Three Months Ended March 31, In thousands, except per share data) | (In thousands, except per share data) | Three Months Ended March 31, 2019 | Three Months Ended March 31, 2018 | | :------------------------------------ | :-------------------------------- | :-------------------------------- | | Revenues: | | | | Interest income | $85,845 | $100,906 | | Other income | 2,385 | 2,657 | | Total Revenues | 88,230 | 103,563 | | Expenses: | | | | Employee costs | 19,073 | 20,641 | | General and administrative | 8,174 | 7,495 | | Interest | 27,290 | 24,062 | | Provision for credit losses | 23,956 | 40,507 | | Total Expenses | 85,554 | 99,006 | | Income before income tax expense | 2,676 | 4,557 | | Income tax expense | 937 | 1,412 | | Net income | $1,739 | $3,145 | | Earnings per share: | | | | Basic | $0.08 | $0.15 | | Diluted | $0.07 | $0.12 | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Unaudited Condensed Consolidated Statements of Comprehensive Income (Three Months Ended March 31, In thousands) | (In thousands) | Three Months Ended March 31, 2019 | Three Months Ended March 31, 2018 | | :------------- | :-------------------------------- | :-------------------------------- | | Net income | $1,739 | $3,145 | | Comprehensive income | $1,739 | $3,145 | [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Unaudited Condensed Consolidated Statements of Cash Flows (Three Months Ended March 31, In thousands) | (In thousands) | Three Months Ended March 31, 2019 | Three Months Ended March 31, 2018 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Net cash provided by operating activities | $58,504 | $63,198 | | Net cash used in investing activities | (62,223) | (48,338) | | Net cash provided by financing activities | 18,031 | 2,815 | | Increase (decrease) in cash and cash equivalents | 14,312 | 17,675 | | Cash and restricted cash at end of period | $144,422 | $142,371 | [Unaudited Condensed Consolidated Statements of Shareholders' Equity](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Unaudited Condensed Consolidated Statements of Shareholders' Equity (Three Months Ended March 31, In thousands) | (In thousands) | Three Months Ended March 31, 2019 | Three Months Ended March 31, 2018 | | :------------------------------------ | :-------------------------------- | :-------------------------------- | | Common Stock (Shares Outstanding) | | | | Balance, beginning of period | 22,422 | 21,489 | | Repurchase of common stock | (366) | (355) | | Balance, end of period | 22,134 | 21,442 | | Common Stock (Value) | | | | Balance, beginning of period | $70,273 | $71,582 | | Repurchase of common stock | (1,440) | (1,419) | | Stock-based compensation | 638 | 1,186 | | Balance, end of period | $69,544 | $71,824 | | Retained Earnings | | |\n| Balance, beginning of period | $134,399 | $119,537 | | Net income | 1,739 | 3,145 | | Balance, end of period | $136,138 | $122,682 | | Total Shareholders' Equity | $198,128 | $187,324 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) [(1) Summary of Significant Accounting Policies](index=9&type=section&id=(1)%20Summary%20of%20Significant%20Accounting%20Policies) Summarizes business, accounting policies, fair value for receivables, revenue recognition, lease accounting, stock compensation, and covenant compliance - The company specializes in purchasing and servicing retail automobile installment sale contracts, primarily for **sub-prime customers**, providing indirect financing to dealers[25](index=25&type=chunk) - Effective January 1, 2018, the company adopted the **fair value method** for finance receivables acquired on or after that date, recognizing interest income on a level yield basis that includes **anticipated credit losses**[29](index=29&type=chunk)[32](index=32&type=chunk) - Effective January 1, 2019, the company adopted **ASU 2016-02, Leases (Topic 842)**, recognizing **right-of-use assets of $21.9 million** and **lease liabilities of $23.3 million** on the balance sheet, with **no material impact** on the statements of operations[34](index=34&type=chunk)[35](index=35&type=chunk)[51](index=51&type=chunk) Other Income Components (Three Months Ended March 31) | (In thousands) | 2019 | 2018 | | :------------- | :---- | :---- | | Direct mail revenues | $1,336 | $1,797 | | Convenience fee revenue | 700 | 450 | | Recoveries on previously charged-off contracts | 57 | 118 | | Sales tax refunds | 227 | 234 | | Other | 65 | 58 | | Total Other Income | $2,385 | $2,657 | Stock-based Compensation Costs (Three Months Ended March 31) | (In thousands) | 2019 | 2018 | | :------------- | :----- | :------ | | Compensation costs | $638 | $1,200 | | Unrecognized costs (as of March 31, 2019) | $3,000 | N/A | Common Stock Purchases (Three Months Ended March 31, 2019) | Purchase Type | Average Price per Share | Total Shares Purchased | | :------------ | :---------------------- | :--------------------- | | Open market purchases | $3.95 | 231,181 | | Shares redeemed upon net

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) Q1 2019 Earnings Conference Call April 19, 2019 12:00 PM ET Company Participants Charles Bradley – Chief Executive Officer Jeff Fritz – Chief Financial Officer-Consumer Portfolio Services Conference Call Participants Operator Good day, everyone, and welcome to the Consumer Portfolio Services 2019 First Quarter Operating Results Conference Call. Today's call is being recorded. Before we begin, management has asked me to inform you that this conference call may ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________ FORM 10-K [X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission file number: 001-14116 CONSUMER PORTFOLIO SERVICES, INC. (Exact name of registrant as specified in its charter) California 33-0459135 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 3800 Howard Hughes Pkwy ...

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) Q4 2018 Earnings Conference Call February 13, 2019 1:00 PM ET Company Participants Charles Bradley - Chairman, President & CEO Jeffrey Fritz - EVP & CFO Conference Call Participants David Scharf - JMP Securities Kyle Joseph - Jefferies Jim Henry - Automotive News Operator Good day, everyone, and welcome to the Consumer Portfolio Services 2018 Fourth Quarter and Full-Year Earnings Conference Call. Today's call is being recorded. Before we begin, management ha ...