| Business Summary | | Rainbow
Rentals,
Inc.
operates
rental-purchase
stores
that
offer
name-brand
merchandise,
including
home
electronics,
furniture,
appliances
and
computers.
As
of
year-end
2000,
the
Company
operated
112
stores
under
the
Rainbow
Rentals
trade
name,
located
throughout
Connecticut,
Massachusetts,
Michigan,
New
York,
North
Carolina,
Ohio,
Pennsylvania,
Rhode
Island,
South
Carolina,
Tennessee
and
Virginia.
The
Company's
rental-purchase
merchandise
generally
is
rented
under
flexible
agreements
that
allow
customers
to
own
the
merchandise
after
making
a
specified
number
of
rental
payments,
ranging
from
12
to
24
months.
Customers
have
the
option
to
return
the
merchandise
at
any
time,
without
further
obligation,
and
also
have
the
option
to
purchase
the
merchandise
at
any
time
during
the
rental
term.
Rental
income
represented
approximately
94%
of
the
Company's
total
revenue
in
2000. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | RBOW
is
engaged
in
the
rental
and
sale
of
home
electronics,
furniture,
appliances
and
computers.
The
Co.
operates
112
rental-purchase
stores
in
11
states.
For
the
six
months
ended
6/30/01,
total
revenues
increased
7%
to
$47.9
million.
Net
income
decreased
65%
to
$949
thousand.
Revenues
reflect
the
opening
and
acquisition
of
several
stores.
Net
income
was
offset
by
increased
store
expenses
as
a
percentage
of
revenues
due
to
higher
advertising
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Wayland Russell, 49 Chairman
of Directors and CEO | $402K | Michael Viveiros, 45 Pres | 306K | Michael Pecchia, 40 CFO
and Sec. | 139K | Lawrence Hendricks, 43 COO | 300K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|