EX-99.1 2 v130168_ex99-1.htm Unassociated Document
Aaron Rents, Inc. and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share amounts)
(Unaudited)
     
 
 
Three months ended
Twelve months ended
 
 
 
 
March 31,
2008
 
June 30,
2008
 
March 31,
2007
 
June 30,
2007
 
December 31,
2007
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Rentals and Fees
 
$
299,675
 
$
294,777
 
$
265,802
 
$
257,158
 
$
1,045,804
 
Retail Sales
   
12,389
   
9,744
   
10,242
   
7,828
   
34,591
 
Non-Retail Sales
   
85,417
   
66,072
   
70,253
   
56,654
   
261,584
 
Franchise Royalties and Fees
   
11,039
   
10,894
   
9,914
   
9,602
   
38,803
 
Other
   
4,161
   
5,527
   
6,559
   
2,549
   
14,157
 
Total
   
412,681
   
387,014
   
362,769
   
333,792
   
1,394,939
 
                                 
Costs and Expenses:
                     
Retail Cost of Sales
   
7,428
   
6,145
   
6,343
   
4,949
   
21,201
 
Non-Retail Cost of Sales
   
77,896
   
60,574
   
64,130
   
52,130
   
239,755
 
Operating Expenses
   
177,901
   
175,903
   
147,749
   
149,454
   
617,419
 
Depreciation of Rental Merchandise
   
109,710
   
106,928
   
99,328
   
97,064
   
391,538
 
Interest
   
2,199
   
2,151
   
1,688
   
1,695
   
7,587
 
Total
   
375,134
   
351,701
   
319,238
   
305,292
   
1,277,500
 
                                 
Earnings from Continuing Operations Before Taxes
   
37,547
   
35,313
   
43,531
   
28,500
   
117,439
 
                                 
Income Taxes
   
15,055
   
12,965
   
16,342
   
10,862
   
44,098
 
                                 
Net Earnings from Continuing Operations
   
22,492
   
22,348
   
27,189
   
17,638
   
73,341
 
                                 
Earnings from Discontinued Operations, Net of Tax
   
2,261
   
931
   
2,018
   
2,019
   
6,933
 
                                 
Net Earnings
 
$
24,753
 
$
23,279
 
$
29,207
 
$
19,657
 
$
80,274
 
                                 
Earnings Per Share:
                     
From Continuing Operations
 
$
.42
 
$
.42
 
$
.50
 
$
.32
 
$
1.35
 
From Discontinued Operations
   
.04
   
.02
   
.04
   
.04
   
.13
 
Total
 
$
.46
 
$
.44
 
$
.54
 
$
.36
 
$
1.48
 
                                 
Earnings Per Share Assuming Dilution:
                     
From Continuing Operations
 
$
.41
 
$
.41
 
$
.49
 
$
.32
 
$
1.33
 
From Discontinued Operations
   
.04
   
.02
   
.04
   
.04
   
.13
 
Total
 
$
.46
 
$
.43
 
$
.53
 
$
.36
 
$
1.46
 
                                 
Weighted Average Shares Outstanding
   
53,492
   
53,262
   
54,161
   
54,191
   
54,163
 
                                 
Weighted Average Shares Outstanding Assuming Dilution
   
54,156
   
54,076
   
54,992
   
55,065
   
55,082