Aaron's Q3 Profit Declines; Cuts FY13 Outlook - Quick Facts

(RTTNews) - Aaron's, Inc. (AAN), Wednesday reported third-quarter net earnings of $21.1 million, or $0.28 per share, compared to $28.9 million or $0.38 per share a year ago.

Adjusted earnings for the quarter declined to $30.8 million or $0.40 per share from $35.5 million or $0.46 per share in the comparable quarter last year.

For the latest third quarter, revenue increased 2 percent to $539.46 million from $529.51 million last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.39 per share and revenues of $540.63 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company expects earnings in the range of $0.38 to $0.42 per share and revenues of $575 million. Analysts currently estimate earnings of $0.46 per share and revenue of $587.62 million for the quarter.

For full-year 2013, the company now expects GAAP earnings of $1.67 per share to $1.71 per share, non-GAAP earnings in the range of $1.95 to $1.99 per share and revenues of about $2.26 billion. Analysts currently estimate earnings of $2.02 per share on revenues of $2.28 billion.

Earlier, the company had expected GAAP earnings of $1.98 per share to $2.06 per share, non-GAAP earnings in the range of $2.15 to $2.23 per share and revenues of about $2.30 billion.