SAN DIEGO (AP) _ Encore Capital Group Inc. (ECPG) on Wednesday reported first-quarter net income of $94.6 million, after reporting a loss in the same period a year earlier.

The San Diego-based company said it had profit of $2.97 per share.

The provider of debt-management and recovery services posted revenue of $416.8 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $375.6 million.

Encore Capital Group shares have increased nearly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.14, an increase of 76% in the last 12 months.

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