Large debt buyer and collection firm Portfolio Recovery Associates (PRA) late Monday reported financial results for the first quarter of 2012 marked by significant increases in cash collections, revenue, and net income, driven in part by the acquisition of UK ARM firm Mackenzie Hall early in the quarter. Norfolk, Va.-based Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) reported net income of $25.5 million in the first three months of 2012, up 10 percent from the same period in 2011. Per-share earnings totaled $1.47 in Q1 2012, up from $1.34 in Q1 2011. First quarter revenue was $140.1 million, including Mackenzie Hall revenue of $4.6 million, up 25 percent from the year-earlier quarter. PRA announced in January the acquisition of Mackenzie Hall, a leading debt buyer and collection agency based in Scotland. Paying $51 million for the firm, PRA noted that the acquisition would be immediately accretive to earnings.