TSX-V Trading Symbol: FSN
RIDGELAND, MS, April 22, 2016 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") (FSN.V) announced today its financial results for the fiscal year ended September 30, 2015. Revenue and profit from continuing operations for the year ended September 30, 2015 were $9,648,371 and $196,172, respectively, as compared to revenue of $9,649,333 and profit of $230,333 from continuing operations for the year ended September 30, 2014. Loss after discontinued operations for the year ended September 30, 2015 was $412,617 as compared to profit of $4,751,789 after discontinued operations for the year ended September 30, 2014. Discontinued operations consisted of the operations of Practicar Systems Inc for the year ended September 30, 2015 and Simply Wheelz LLC f/d/b/a Advantage Rent A Car for the year ended September 30, 2014.
Revenue for the quarters ended December 31, 2014, March 31, 2015 and June 30, 2015 was $2,654,807, $2,473,766 and $2,339,411, respectively. Profit (loss) from continuing operations was $50,154, ($19,501) and $241,694 for the quarters ended December 31, 2014, March 31, 2015 and June 30, 2015, respectively.
The Company's audited annual financial statements and unaudited interim financial reports for the fiscal years ended September 30, 2015 and 2014 and related management's discussion and analysis can be viewed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
FSNA is a publicly traded company listed on the TSX Venture Exchange. The Company and its subsidiaries own the following brands: U-Save Car & Truck Rental® ("U-Save"), U-Save Car Sales, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car, Sonoran National Insurance Group and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has over 900 locations throughout the United States and is one of North America's largest franchise car rental companies. U-Save currently services 19 airport markets in 13 different states. Although primarily based in the United States, U-Save has 18 international locations in Mexico, Greece, the Middle East, Latin America, and the Caribbean.
With more than 150 years of combined insurance experience, Sonoran National Insurance Group is licensed in all 50 states and serves customers in every part of the country. Sonoran provides an entire range of business and personal insurance solutions customized to the needs of its clients.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Franchise Services of North America Inc.
For further information: on FSNA or any of its operating subsidiaries, please contact: Thomas P. McDonnell, III, Franchise Services of North America Inc., (601) 713-4333