Rent-A-Wreck Net Income Down in 4th Quarter

OWINGS MILLS, Md. -- Rent-A-Wreck of America announced its net income for the fourth quarter of 2001 was $119,000 -- down nearly 32% compared to fourth quarter 2000. Total revenue for the fourth quarter, however, was up 13%. Fourth-quarter revenue in 2001 totaled $1,724,000, compared to $1,505,000 in fourth quarter 2000.

Franchisee revenue was also up for the quarter -- $13,733,000 compared to $12,612,000 in fourth quarter 2000. The number of franchised locations dropped in 2001 -- from 677 to 659.

Operating expenses climbed from $1,240,000 in fourth quarter 2000 to $1,561,000 in fourth quarter 2001.

However, net income for the first nine months of 2001 was up compared to the same period in 2000 -- $871,000 compared to $333,000.

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

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Who Controls Your Vehicles’ Data?

In the name of security, an automaker’s alliance is advocating denial of third-party access to the OBD-II port. Is this going too far?

Job Finder: Access Top Talent. Fill Key Positions.

>