EX-99.1 2 v140475_ex99-1.htm Unassociated Document
Aaron Rents, Inc. and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share amounts)
(Unaudited)
 
   
Three months ended
 
   
March 31,
   
June 30,
   
Sept 30,
 
   
2008
   
2008
   
2008
 
Revenues:
                 
Rentals and Fees
  $ 299,675     $ 294,777     $ 291,102  
Retail Sales
    12,389       9,744       10,230  
Non-Retail Sales
    85,417       66,072       70,691  
Franchise Royalties and Fees
    11,039       10,894       11,127  
Other
    4,161       5,527       4,869  
Total
    412,681       387,014       388,019  
Costs and Expenses:
                       
Retail Cost of Sales
    7,428       6,145       6,266  
Non-Retail Cost of Sales
    77,896       60,574       64,752  
Operating Expenses
    177,830       175,832       175,339  
Depreciation of Rental
   Merchandise
    109,710       106,928       106,962  
Interest
    2,199       2,151       2,243  
Total
    375,063       351,630       355,562  
Earnings from Continuing   Operations Before Taxes
    37,618       35,384       32,457  
Income Taxes
    15,055       13,023       12,622  
Net Earnings from Continuing
   Operations
    22,563       22,361       19,835  
Earnings from Discontinued
   Operations, Net of Tax
    2,190       918       1,243  
Net Earnings
  $ 24,753     $ 23,279     $ 21,078  
Earnings Per Share:
From Continuing Operations
   From Discontinued Operations
   Total
  $ .42  .04  $.46     $ .42 .02 $.44     $ .37 .03 $.40  
Earnings Per Share Assuming Dilution:
   From Continuing Operations
   From Discontinued Operations
      Total
  $   .42 .04 $.46     $   .41 .02 $.43     $   .37 .02 $.39  
Weighted Average Shares
   Outstanding
    53,492       53,262       53,356  
Weighted Average Shares
   Outstanding Assuming Dilution
    54,156       54,076       54,219  
 
 
 

 
 
Aaron Rents, Inc. and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share amounts)
(Unaudited)
 
   
Three months ended
 
   
March 31,
   
June 30,
   
Sept 30,
 
   
2007
   
2007
   
2007
 
Revenues:
                 
Rentals and Fees
  $ 265,802     $ 257,158     $ 257,294  
Retail Sales
    10,242       7,828       7,713  
Non-Retail Sales
    70,253       56,654       58,140  
Franchise Royalties and Fees
    9,914       9,602       8,881  
Other
    6,559       2,549       1,688  
Total
    362,770       333,791       333,716  
Costs and Expenses:
                       
Retail Cost of Sales
    6,343       4,949       4,546  
Non-Retail Cost of Sales
    64,130       52,130       53,095  
Operating Expenses
    147,672       149,376       154,453  
Depreciation of Rental
   Merchandise
    99,327       97,065       97,218  
Interest
    1,688       1,695       1,945  
Total
    319,160       305,215       311,257  
Earnings from Continuing   Operations Before Taxes
    43,610       28,576       22,459  
Income Taxes
    16,437       10,833       8,304  
Net Earnings from Continuing
   Operations
    27,173       17,743       14,155  
Earnings from Discontinued
   Operations, Net of Tax
    2,034       1,914       1,764  
Net Earnings
  $ 29,207     $ 19,657     $ 15,919  
Earnings Per Share:
From Continuing Operations
   From Discontinued Operations
   Total
  $ .50  .04  $.54     $ .33 .03 $.36     $ .26 .03 $.29  
Earnings Per Share Assuming Dilution:
   From Continuing Operations
   From Discontinued Operations
      Total
  $ .49 .04 $.53     $ .33 .03 $.36     $ .26 .03 $.29  
Weighted Average Shares
   Outstanding
    54,161       54,191       54,217  
Weighted Average Shares
   Outstanding Assuming Dilution
    54,992       55,065       55,049