FSNA Reports Higher Third Quarter Net Loss

In its fiscal third quarter that ended June 30, 2012, Franchise Services of North America (FSNA) announced total consolidated revenues of about $3.6 million for a total of almost $11.2 million for its fiscal year through June 30. These third quarter results are down slightly compared to the third quarter of 2011, when FSNA reported revenues of about $3.8 million for the quarter and about $11.6 million for the nine-month period.

FSNA saw a third quarter net loss of $348,097 — compared to $20,131 in the third quarter of last year — bringing a total net loss for all three quarters of this fiscal year to $781,168, compared to $169,543 during the same nine-month period last year.

The company reported “General and Administrative” costs of $749,903 for the quarter, compared to $594,782 in the third quarter of 2011, an increase of nearly 21%.

The company reported that the number of franchises as of June 30, 2012 is down compared to the end of FSNA’s last fiscal year, which ended Sept. 30, 2011, at 187 compared to 194.

FSNA owns two operating subsidiaries, U-Save Auto Rental of America Inc. and Practicar Systems Inc., which also licenses franchises to operate Rent-A-Wreck in Canada.

You can see FSNA’s full results here. 

FSNA is currently looking to acquire Advantage Rent-A-Car from Hertz as a result of the pending Hertz and Dollar Thrifty Automotive Group merger.



Other car rental company financial reports can be found on Auto Rental News’ Quarterly Financial Data page.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

6 Takeaways from the 2018 International Car Rental Show

Technological solutions are finally moving from reality to theory, peer-to-peer platforms are being redefined, China has the biggest room for growth, while Sixt’s U.S. aspirations have only just begun.

The Irony of Customer Service in the Digital Age

Sure, any company would jump at the chance to use technology to reduce labor costs. But it also comes with some big, red, flashing warning lights.

Market Forces Driving Car Rental in 2018

An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.

Job Finder: Access Top Talent. Fill Key Positions.

>