RWY beat estimates this afternoon and had quite an increase in net income and revenue, on Wednesday the stock was down on ......and The New York Stock Exchange said Wednesday that Rent-Way Inc. has declined comment on its recent stock activity. Looks like it could rebound tomorrow.
The NYSE said it had requested that the company issue a public statement indicating whether there are any corporate developments explaining its recent stock drop, but Rent-Way declined to comment.
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Rent-Way Quarter And Year Continue Record Results
ERIE, Pa., Dec. 10 /PRNewswire/ -- Rent-Way, Inc. (NYSE: RWY - news) today announced its 20th consecutive quarter and sixth consecutive year of record results for the quarter and year ended September 30, 1998.
For the three months ended September 30, 1998, total revenues were $52,266,802, a 108% increase over the $25,111,368 reported in the same quarter last year. Operating income was $8,983,304, a 115% increase over the $4,183,969 reported in the same quarter last year. Net income was $3,819,999, a 108% increase over the $1,834,465 reported in the same quarter last year. Earnings per share, on a substantially higher number of shares outstanding, were $.31 (diluted), a 41% increase over the $.22 (diluted) reported in the same quarter last year.
For the fiscal year ended September 30, 1998, total revenues were $177,326,830, a 100% increase over the $88,446,293 reported for fiscal year 1997. Operating income was $28,656,205, a 108% increase over the $13,786,161 reported for fiscal year 1997. Net income was $12,577,430, a 132% increase over the $5,415,926 reported for fiscal year 1997. Earnings per share, on a substantially higher number of shares outstanding, were $1.08 (diluted), a 50% increase over the $.72 (diluted), reported for fiscal year 1997.
''The outstanding performance in
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