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 and Yahoo summary. (SW, not recommending this for the index--just wanted to bring it to the thread's attention--perhaps worth watching.)
Business Summary
Pawnmart, Inc. is engaged in establishing, acquiring and operating pawnshops that lend money on the security of pledged tangible personal property. For the nine months ended 10/31/98, total revenues increased 13% to $8.1 million. Net loss applicable to Common increased 50% to $3.5 million. Revenues benefitted from store maturation, increased store traffic and marketing programs. Higher losses reflect an increase in labor costs, additional personnel, and professional fees.
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Statistics at a Glance -- PMRT Last Updated: Feb 5, 1999
Price and Volume
(updated Feb 5, 1999)
52-Week Low $1.313
Recent Price $2.188
52-Week High $5.875
Beta N/A
Daily Volume (3-month avg) 45.5K
Share-Related Items
Market Capitalization $15.8M
Shares Outstanding 7.21M
Float 1.20M
Dividend Information
Annual Dividend none
Per-Share Data
Book Value (mrq) $0.80
Earnings (ttm) -$1.21
Sales (ttm) $1.62
Cash (mrq) $0.03
Valuation Ratios
Price/Book (mrq) 2.73
Price/Earnings N/A
Price/Sales (ttm) 1.35
Income Statements
After-Tax Income (ttm) -$5.93M
Sales (ttm) $11.1M
>>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.
Certain of the above information is forward-looking and as such, only reflects the Company's best assessment at this time. Investors are cautioned that forward-looking statements involve risks and uncertainty, that actual results may differ materially from such statements, and that investors should not place undue reliance on such statements. For a discussion of factors that may affect actual results, investors should refer to the Company's filings with the Securities and Exchange Commission.<<
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