Franchise Services Announces Q1 Results

Franchise Services of North America Inc. announces its first quarter results for the period ending Dec. 31, 2007. Revenue and net income for the quarter, which were similar to management’s expectations, were $4.2 million and $279,353, respectively. Last year, the company recorded revenue of $5.3 million and a net loss of $158,019.

The 2006 first quarter results include four months of U-Save's results and only one month of Practicar Systems Inc., the Canadian subsidiary that operates the Rent-A-Wreck Brand in Canada.

FSNA opened two new airport locations in San Diego and Colorado Springs, Colo., in addition to three Rent-A-Wreck franchises representing four rental locations, says Robert M. Barton, the company’s COO. Barton says it was also a strong quarter because of FSNA’s Master Franchise sale for Mexico, which has two operating locations in Puerto Vallarta and Guadalajara.

For more information on FSNA’s financial reports, please visit sedar.com.

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