*** PMRT *** Good News !!! Increase revenue!!!
PawnMart, Inc. Reports 67% Revenue
Increase for February; Comparable Store Revenues Increase
30%
Pawn Loans Increase 89% Over Prior Year
FORT WORTH, Texas, March 2 /PRNewswire/ -- PawnMart, Inc. (Nasdaq: PMRT, PMRTW, and
PMRTZ; BSE: PWT, PWTA, and PWTB) reported that total revenues increased 67 percent to $1,453,000
for the four weeks ended February 27, 1999 compared to $868,000 for the four weeks ended February 28,
1998. Comparable store revenues for the four weeks ended February 27, 1999 increased 30 percent. At
February 27, 1999, total pawn loans were $4,255,000, an 89 percent increase over prior year, and
comparable store pawn loans were $3,471,000, a 54 percent increase over prior year.
Carson R. Thompson, Chairman and Chief Executive Officer, commented by stating ''We continue to
experience positive results from significant improvements in our lending operations and merchandise sales, and
by the addition of thirteen stores during fiscal 1998. We are in the final stages of obtaining regulatory approval
for the proposed issuance of up to $10 million of 12% Subordinated Notes Due 2004. We intend to use the
net proceeds to continue our rapid store expansion during fiscal 1999 and for general corporate purposes.''
PawnMart, Inc. currently operates 32 specialty retail stores that buy and sell pre-owned merchandise, and
provide secured short-term loans. PAWNMART(SM) stores are positioned and merchandised similar to
national discount store chains, and are located in Alabama, Georgia, North Carolina, South Carolina, and
Texas. |
