- Current report filing (8-K)
April 29 2010 - 4:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 2010
Asset Acceptance Capital Corp.
(Exact name of Registrant as specified in its charter)
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Delaware
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000-50552
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80-0076779
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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28405 Van Dyke Avenue
Warren, MI 48093
(Address of principal executive offices)
Registrants telephone number, including area code: (586) 939-9600
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 140.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02.
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Results of Operations and Financial Condition.
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On April 29, 2010, Asset Acceptance Capital Corp. issued a press release announcing its results of operations and financial condition as of and for the
three month period ended March 31, 2010, unaudited. The press release is being furnished pursuant to Item 2.02 of Form 8-K. The full text of the press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated in this report by
reference.
The press release attached to this Form 8-K contains a financial measure for Adjusted EBITDA that is not calculated in accordance
with accounting principles generally accepted in the United States of America (GAAP). We have provided a reconciliation in the press release of the non-GAAP financial measure for Adjusted EBITDA to GAAP net income.
We have included information concerning Adjusted EBITDA because we believe that this financial measure provides important supplemental information to
management and investors. We use Adjusted EBITDA for planning purposes, including the preparation of internal budgets and forecasts, in communications with the Board of Directors, stockholders, analysts and investors concerning our financial
performance, and as a key component in managements annual incentive compensation plan. Adjusted EBITDA is also used as a measure of operating performance for the financial covenants in our amended credit agreement. This non-GAAP financial
measure should not be considered an alternative to, or more meaningful than, net income prepared on a GAAP basis.
Item 9.01.
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Financial Statements and Exhibits
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The following exhibits are furnished herewith:
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Exhibit
Number
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Exhibit Description
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99.1
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Press Release dated April 29, 2010, announcing Registrants results of operations and financial condition as of and for the three month period ended March 31, 2010,
unaudited.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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April 29, 2010
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ASSET ACCEPTANCE CAPITAL CORP.
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By:
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S
/ E.L.
H
ERBERT
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Name:
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E.L. Herbert
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Title:
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Vice President and General Counsel
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EXHIBIT INDEX
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Exhibit No.
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Description
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99.1
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Press Release dated April 29, 2010.
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