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 |