INOW looks interesting. Watching PawnMart (PMRT, Nasdaq).
Closed at 2 7/8, + 11/16. Rumor has it they will be announcing the opening of an Internet auction website soon. Sharp revenue increases for January and Q4. Shares OS, 7.2M; float, 1.2M. I took a small position today. Below is a recent release.
>>Thursday February 4, 9:15 am Eastern Time
Company Press Release
SOURCE: PawnMart, Inc.
PawnMart, Inc. Reports 54% Revenue Increase for January and 35% Revenue Increase for the Fourth Quarter; Comparable Store Revenues Increase 23% for January and 12% for the Fourth Quarter
Pawn Loans Increase 82% Over Prior Year
FORT WORTH, Texas, Feb. 4 /PRNewswire/ -- PawnMart, Inc. (Nasdaq: PMRT, PMRTW, and PMRTZ and BSE: PMT, PMTA, and PMTB) reported that total revenues increased 54 percent to $1,122,000 for the four weeks ended January 30, 1999 compared to $731,000 for the four weeks ended January 31, 1998. Comparable store revenues for the four weeks ended January 30, 1999 increased 23 percent. For the fiscal 1998 fourth quarter, total revenues increased 35 percent to $3,886,000 compared to $2,885,000 a year ago. Comparable store revenues for the fiscal 1998 fourth quarter increased 12 percent.
Carson R. Thompson, Chairman and Chief Executive Officer, commented by stating, ''Our January 1999 revenue performance was positively impacted by significant improvements in lending operations and merchandise sales, and by the addition of eight stores during the fourth quarter. At January 30, 1999, total pawn loans were $4,419,000, an 82 percent increase over prior year, and comparable store pawn loans were $3,686,000, a 52 percent increase over prior year. On January 15, 1999, we filed a shelf registration statement with the Securities and Exchange Commission relating to 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.<<
|
