Rent-A-Wreck Announces Record Growth Under KAB Associates'
10 August 1999
Rent-A-Wreck Announces Record Growth Under KAB Associates' Management
OWINGS MILLS, Md.--Aug. 9, 1999--Rent-A-Wreck releases selected financial data with respect to the consolidated statements of operations of the Company and its subsidiaries for each of the six years in the period ended March 31, and with respect to the balance sheets thereof at March 31 in each of those years.
The selected financial data have been derived from the Company's audited consolidated financial statements and should be read in conjunction with the financial statements and related notes thereto and other financial information appearing elsewhere herein. The selected financial data is not required by Form 10-KSB and has been included herein to provide an overview of the Company's operations.
Year ended March 31,
(In thousands except per share
and number of franchises)
1994 1995 1996 1997 1998 1999
---------------------------------------------------
Franchisees' Results
(Unaudited)
Franchisees'
Revenue (1) $25,522 $26,482 $29,864 $34,661 $40,018 $45,358
Number of Franchises 365 384 429 457 558 629
Company's Results
of Operations
Total Revenue $ 3,224 $ 3,003 $ 3,455 $ 3,785 $ 4,677 $ 5,601
Costs and expenses
and Other 3,511 2,655 3,029 3,252 3,983 4,564
Income (loss) before
income taxes (262) 416 489 600 756 1,113
Net income (loss) (236) 383 459 537 548 858
Earnings (loss) per
common share
Diluted (0.10) 0.06 0.07 0.08 0.09 0.15
(1) The franchisees' revenue data have been derived from unaudited
license fee reports provided by franchisees.