FINANC I A L H I GHL I GHTS (in thousands, except per share amounts) 2008 2009 2010 Revenues $263,275 $281,091 $ 372,706 Operating income $ 84,837 $ 80,609 $ 129,862 Net income $ 45,362 $ 44,306 $ 73,871 Diluted earnings per share $  2.97 $  2.87 $  4.35 Weighted-average shares (diluted) 15,292 15,454 16,885 Operating margin 32.2% 28.7% 34.8% Net margin 17.2% 15.8% 19.8% Return on average equity 17.3% 14.3% 16.6% Finance receivables, net $563,830 $693,462 $ 831,330 Total assets $657,840 $794,433 $ 995,908 Total debt $268,305 $320,799 $ 302,396 Stockholders’ equity $283,863 $335,480 $ 490,516 Owned Portfolio Cash Collections  Per Purchase Period  ($ in millions) Portfolio Purchases by Year ($ in millions) 367 289 280 264 150 112 61 62 42 33 25 19 12 8 3 10 96 98 00 02 04 06 08 0 100 200 300 400 500 $600 10 09 08 07 06 05 04 03 02 01 00 99 98 97 96 14 Portfolio Recovery Associates, Inc. — 2010 Annual Report