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03-20-02
RTO Online
"The company's quarterly growth in revenue and net earnings was primarily
driven by...improved collection practices, better product utilization, and
improved store operating margins."
RTO Enterprises Press Release
If you had to pick one consistency out of the amazing
turnarounds of publicly traded Rent to Own companies in the last 6 months, it
would be..."Back to Basics".
From mid to late 2001 you could almost hear Radar-Oriley over the company
intercoms...
"Can I have your attention please....Reminder, we are in the Rent to
Own business...That is all"
That same 'back to basics' drumbeat has been heard loud and clear at Canadian
Rent to Own operator RTO Enterprises. Here's a snapshot...
Q4 2001 ended Dec. 31, 2001
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Fourth quarter same store revenues increase 7.3%
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Total revenue for Q4 $17.7 million compared to $16.3 million
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Net income for Q4 increased $3.0 million from a loss of $2.6
million in 2000 to a profit of $389,000 in 2001
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Earnings per share $0.01 in 2001 vs.. a loss of ($0.12) in
2000
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Monthly rental agreement portfolio increased by $315,000
compared to a decline of $32,447 during the same period in 2000.
Fiscal Year 2001
While a net loss for the year, RTO Enterprises seems well on
it's way to resuming the 'growth mode' and returning to profitability in 2002.
David Ingram, President and CEO, said, "We are very pleased
with our results in the fourth quarter, especially the impact our marketing and
merchandising programs made in growing the customer and agreement base.
RTO opened 5 stores in Q4...David Ingram, "We enter 2002
with great momentum. We opened 5 new stores in the fourth quarter, bringing our
total to 130 and have plans to add 7 more throughout the balance of this year,
all from internally generated cash flow. Demand for our product remains strong
and with the renewed profit focus and expense disciplines implemented, we remain
confident in our outlook for 2002."
Donald K. Johnson, Chairman of the Board..."On behalf of
the board of directors, I would like to congratulate our management team on
their major achievement in turning the Company around during the past
year."
RTO Online Editorial Comment:
Close your eyes, click your heels together three times, and repeat after me
I am in the Rent to Own Business
I am in the Rent to Own Business
I am in the Rent to Own Business
can I get an AMEN...
Find the complete annual report and other RTO Enterprise goodies HERE
end
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