Consumer Portfolio Reports Quarterly Loss

Consumer Portfolio Services Inc., which purchases, sells and services automobile sales contracts, posted a loss of $3.2 million, or 16 cents a share, for the second quarter, compared with a loss of $6.9 million, or 37 cents a share, for the same period last year. Revenue rose to $13.6 million from $13.4 million.

The company also said its board has approved a plan to repurchase up to $5 million of outstanding stock and securities.