EDMONTON, Nov. 27 /CNW/ - Rentcash Inc. (TSXV: RCS) announced today that the Company had achieved profits for three consecutive quarters, with operating income (earnings before interest and taxes) of $145,000 in the first quarter of its new fiscal year compared with a loss of ($184,000) in the same period last year. Net income also increased to $88,000 in this quarter compared with a loss of ($112,000) in the first quarter of last year. Revenues rose to $1,938,000 for the quarter ended September 30, 2002 from $722,000 in the same period last year, an increase of 168 per cent.

"We recorded significant increases in operating and net income while opening new stores and incurring many start-up costs at the beginning of our second fiscal year of operations," said Gordon J. Reykdal, Rentcash Inc. President and Chief Executive Officer. "The Company is experiencing growth, consumer acceptance and profitability all at once." Reykdal also noted that 14 stores would be opened in the second quarter of the Company's new fiscal year, with 10 already in operation.

Rentcash Inc. operates under two store banners: The Cash Store and Insta-rent. The Cash Store acts as broker to facilitate payday cash advance services to income earning consumers. Insta-rent rents brand name furniture, appliances, electronics and computers, with or without an option to purchase. The Company's overall store count as of September 30, 2002 stood at 30 stores, comprised of 25 Cash Stores and 5 Insta-rent outlets.

The Company employs 154 people as of November 15, 2002 with its head office located in Edmonton, Alberta.