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 | |