Encore Capital Group, a debt buyer that purchases and collects delinquent credit cards, reported broad second-quarter gains, including increases in cash collections, debt purchasing, total revenue and net income. Encore invested $52.5 million to purchase a face value of $1.8 billion in debt during the quarter ended June 30, for a blended rate of 2.9% of face value. The San Diego-based company did not itemize credit card purchase totals. During the same period a year ago, Encore spent $41.1 million to buy $1.3 billion in delinquent loans for a blended rate of 3.1% of face value. Cash collections totaled $102.1 million, a 9.1% increase from recoveries of $93.6 million during the same period last year. In 2007, 90% of the receivables Encore bought consisted of charged-off credit card accounts, which compared with 46% that did in 2006. The company reported net income of $7.3 million compared with a net loss of $800,000 a year ago. Revenues were up 4.2%, to $70 million from $67.2 million. Encore is the fourth-largest debt buyer in the U.S. based on 2007 revenues, according to Collections & Credit Risk, a CardLine sister publication.