Our low risk expansion strategy into the U.S. market provides the Company with additional long-term growth potential.
Donald K. Johnson, Chairman of The Board, easyhome Ltd.

All 4 major categories experienced comparable revenue growth, lead by furniture at 26%, electronics at 18%, computers at 15%, and appliances at 8%.
David Ingram, CEO, easyhome Ltd.

photo © RTO Online 2007 easyhome Chairman of The Board Donald K. Johnson, at the company's recent national conference in Niagara, Ontario. See a complete photo gallery of the event; Awards Banquet (68), CSI Team Building (114), General Session Live and Interactive (98), Vendor Show (23).

Listen to RTO Online's exclusive podcast interview with easyhome CEO David Ingram.

Other easyhome Podcast interviews: PLAY : Bud Gates - Master Franchisor, easyhome, and former CEO of Rent A Center When: 3/7/2007 Where:  2007 easyhome national Conference in Niagara, Ontario PLAY : Dave Maries - VP Marketing and Merchandising, easyhome When: 3/7/2007 Where:  2007 easyhome national Conference in Niagara, Ontario PLAY : Simon Holmes - Divisional VP, Eastern Canada, easyhome When: 3/7/2007 Where:  2007 easyhome national Conference in Niagara, Ontario PLAY : Errol Penny - Regional Manager, Region 4, Saskatchewan., easyhome When: 3/7/2007 Where:  2007 easyhome national Conference in Niagara, Ontario

easyhome (EH.TO), Canada's largest rent to own company, reported same store sales surged 11% in the quarter ending March 31, 2007. Revenue increased $5.8 million or 20.4% compared to the first quarter of 2006.

This is easyhome's 22 consecutive quarters of comparable revenue growth.

Net income increased $1.1 million to $3.4 million, an improvement of 44.6%.

Donald K. Johnson, Chairman of The Board commented that, "The growth in net profits, gross revenues and same-store revenues confirms that easyhome is well positioned to achieve above-average growth in the Canadian market. Also, our low risk expansion strategy into the U.S. market provides the Company with additional long-term growth potential."

"I am very pleased to report a record quarter for both revenue and net income, said David Ingram, easyhome's President and CEO. All of the key indicators achieved positive comparisons to first quarter of 2006, which was primarily driven by the record growth of our portfolio in the fourth quarter of 2006. This momentum continued into 2007, with the potential monthly revenue increasing $260,000 compared to $86,000 achieved in the first quarter of 2006. All 4 major categories experienced comparable revenue growth, lead by furniture at 26%, electronics at 18%, computers at 15%, and appliances at 8%. We have also seen the average amount spent per transaction increase due to the emergence of flat panel TVs in our mix, which has resulted in customer spend improving 7% in the first quarter. These improvements have contributed to an operating margin of 16.4% which reflects the strength of our strategic direction and disciplined execution."

Ingram continued, "Four new locations were added in the first quarter, resulting in our current total of 192 across Canada (including our licensed location). In addition, we opened 2 easyfinancial kiosks to bring our total to 5. We expect to open 8 new stores in the second quarter, including 2 in the US, and add 1 easyfinancial kiosk."

"The strong consumer demand provides us continued optimism for another year of strong revenue and earnings growth," said Ingram. "Our outlook, therefore, remains consistent with our disclosed 2007 targets, requiring 21-24 new stores, annual revenue growth of 15-18%, and same store revenue growth of 5-7%."

easyhome Ltd. operates 192 stores (including 1 licensed location), as at March 31, 2007 is Canada's largest merchandise leasing company and the third largest in North America.

The company will webcast it's management conference call to discuss results for the first quarter ended March 31, 2007 at 9am EST on Thursday, May 3, 2007.

Audio of the May 3rd call will be broadcast live. A link to the live webcast will be available from My RTO Portfolio.