"People, products and programs continue to be
our primary focus"
David A. Kraemer, President and Chief
Bestway, Inc. (BSTW), today reported
same store sales for its fourth
quarter ended July 31, 2004 were 7.1% over last year.
"People, products and programs continue to be our primary focus," commented
David A. Kraemer, President and Chief Executive Officer. "Focusing on these key
drivers and initiatives, along with a targeted marketing campaign has allowed us
to continue our momentum through 2004 and into 2005. Results from these
initiatives are encouraging, which I feel is a testament to our team's ability
to execute our plan. In fiscal 2005, we intend to grow our store count through
new store openings, as well as seek out acquisitions that meet our return on
For the three months ended July 31, 2004, revenue increased 7.9% to $9,845,031,
compared to $9,125,742 for the fourth quarter of last year. Same store revenues
(revenues earned in stores operated for the entirety of both periods) increased
7.1% in the quarter. Net earnings, after a charge of $43,649 for a legal matter
currently on appeal, decreased to $54,078, or $.03 per share on a diluted basis,
compared to $94,553, or $.05 per share on a diluted basis, a year ago. Without
this significant item, net income would have been $97,727, or $.05 per share on
a diluted basis.
Bestway, Inc. owns and operates a total of sixty-nine rent-to-own stores located
in the southeastern United States.
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