Printer Friendly

COMCOA REPORTS THIRD QUARTER RESULTS

 WICHITA, Kan., Nov., 5 /PRNewswire/ -- COMCOA Inc. (NASDAQ: CCOA) today reported that revenues for its third quarter, a 12-week period ended Oct. 3, 1993, increased 13.2 percent to $15,047,627. Net earnings were $941,003, or $.18 per share. For the corresponding period in the prior year, revenues, net earnings and earnings per share were $13,293,946, $940,293 and $.18, respectively. Included in operating expenses this quarter is a $500,000 charge to compensation related to the grant of non-qualified stock options to several operations managers.
 Revenues for the first 36 weeks of the current fiscal year were $46,567,485 vs. $40,108,343 for the same period in the preceding year, a 16.1 percent increase. The current year-to-date net earnings were $4,122,201, or $.82 per share, an increase of 15.5 percent over the same period last year.
 COMCOA Inc. is a franchisee of Rent-A-Center Inc. and owns and operates 87 Rent-A-Center stores in Florida, Georgia, Alabama and Mississippi at Oct. 3, 1993.
 COMCOA INC.
 Summary Financial Data
 12 Weeks Ended 36 Weeks Ended
 Oct. 3, Oct. 4, Oct. 3, Oct. 4,
 1993 1992 1993 1992
 Statement of
 earnings data:
 Revenues $15,047,627 $13,293,946 $46,567,485 $40,108,343
 Costs and
 expenses 13,545,079 11,730,862 39,869,512 34,544,702
 Operating
 income 1,502,548 1,563,084 6,697,973 5,563,641
 Other income -
 lawsuit settlement --- --- --- 400,000
 Interest expense
 (income), net (6,517) 57,208 90,681 235,402
 Earnings before
 income taxes 1,509,065 1,505,876 6,607,292 5,728,239
 Income taxes 568,062 565,583 2,485,091 2,154,700
 Net earnings $941,003 $940,293 $4,122,201 $3,573,539
 Net earnings -
 per common share -
 (primary and fully
 diluted) $.18 $.18 $.82 $.71
 Weighted average
 common and common
 equivalent shares
 outstanding 5,088,327 5,085,277 5,033,807 5,049,151
 Selected Balance Sheet Data
 Oct. 3, Jan. 24,
 1993 1993
 Current assets $4,320,951 $2,753,033
 Total assets 27,646,930 27,593,139
 Current
 liabilities 7,502,429 5,672,369
 Total
 liabilities 7,852,224 12,322,164
 Stockholders'
 equity 19,794,706 15,270,975
 -0- 11/5/93
 /CONTACT: Gary L. Simmons of COMCOA, 316-683-4411/
 (CCOA)


CO: COMCOA Inc. ST: Kansas IN: REA SU: ERN

JL-LM -- LA009 -- 1139 11/05/93 10:00 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1993
Words:412
Previous Article:BELMAC ADDS INTERNATIONAL EXECUTIVE TO ITS BOARD
Next Article:AUDIOSCIENCE APPOINTS MAULDIN REGIONAL SALES MANAGER
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters