TULSA, Okla. -- Dollar Thrifty Automotive Group said it acquired
the master franchise rights to the Dollar Rent A Car brand in
Canada from Dollar Rent A Car (Canada).
The acquisition adds 30 Dollar-branded rental sites in Canada to
the 133 Thrifty-branded locations in the country. Terms of the
transaction, which is scheduled to close by week's end, were not
disclosed.
A day earlier, on Feb. 4, Dollar Thrifty picked up all Thrifty
Car Rental franchise locations in Hawaii.
In the midst of this buying binge, Dollar Thrifty Automotive
Group reported its revenue for 2002 was $1.13 billion, up 7.9%
compared with 2001.
Net income for the year was $46.8 million, or $1.88 per diluted
share, compared to net income of $13.8 million, or $.57 per diluted
share, a year earlier.
For the fourth quarter, revenue was $250.3 million, up 24.7%
from the same period in 2001. The company reported a fourth-quarter
net loss of $4 million, or $.16 per diluted share, compared to a
net loss of $13.8 million, or $.57 per diluted share, in the fourth
quarter of 2001.
The company reported that its Thrifty division recorded record
revenue of $323.3 million for the full year, a 27% increase over
2001.
Fourth quarter revenue was $77.4 million, a 46.8% jump over
fourth-quarter 2001.