FSNA Reports Higher Third Quarter Net Loss
Franchise Services of North America (FSNA) reported a net loss of $348,097 in the third quarter of 2012 compared to $20,131 in the same quarter last year.
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.
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