Rent-Way (RWY) today reported unaudited fiscal 2003 full year and fourth quarter consolidated revenues of $491.4 million and $119.0, respectively. Unaudited fiscal 2003 full year and fourth quarter core rental business revenues were $457.3 million and $112.0 million, respectively. Same store core rental business revenues increased approximately 2.5% in the fiscal 2003 fourth quarter versus the same quarter in fiscal 2002.

"We are encouraged by these results, especially our positive comp sales growth in the fourth quarter. We are seeing the benefits of our investments in marketing and advertising and we expect to continue these investments in order to drive top-line growth in future quarters," stated William E. Morgenstern, Chairman and CEO of Rent-Way. "As I stated on our last earnings conference call, our investments in growth will contribute to a net loss in the 2003 fourth quarter. However, we believe the strategic investments we are making in the near term will result in much improved bottom line performance for fiscal year 2004 and create a solid platform for growth through new store openings. We expect to release complete results for fourth quarter and full year fiscal 2003 in mid-to-late November. We will provide additional guidance on our expected fiscal 2004 performance at that time."

By noon Eastern, RWY was trading up 5.66% at $5.60 per share on heavy volume.