Aarons 2015 Annual Report Download - page 89
Download and view the complete annual report
Please find page 89 of the 2015 Aarons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
 |
 |
Certain reclassifications have been made to prior quarters to conform to the current period presentation.
Revenues $ 821,814
$ 769,049
$ 767,694
$ 821,199
Gross Profit * 363,478
346,110
331,628
344,144
Earnings Before Income Taxes 77,830
64,354
36,556
34,380
Net Earnings 49,243
40,546
24,194
21,726
Earnings Per Share .68
.56
.33
.30
Earnings Per Share Assuming Dilution .68
.56
.33
.30
Revenues $ 585,423
$ 662,490
$ 698,418
$ 748,702
Gross Profit * 292,393
309,385
313,540
320,797
Earnings Before Income Taxes 60,710
13,562
13,199
34,233
Net Earnings 38,339
8,505
9,295
22,094
Earnings Per Share .53
.12
.13
.30
Earnings Per Share Assuming Dilution .53
.12
.13
.30
* Gross profit is the sum of lease revenues and fees, retail sales and non-retail sales less retail cost of sales, non-retail cost of sales, depreciation of lease
merchandise and write-offs of lease merchandise.
The comparability of the Company's quarterly financial results during 2015 and 2014 was impacted by certain events, as described below on a pre-tax basis:
• The fourth quarter of 2015 included $2.7 million of transaction costs related to the October 15, 2015 DAMI acquisition and a $3.5 million loss
related to a lease termination on a Company aircraft.
• The first quarter of 2014 included an $872,000 charge for financial advisory and legal costs related to addressing now-resolved strategic matters,
including an unsolicited acquisition offer, two proxy contests and certain other shareholder proposals and $803,000 in transaction costs related to
the Progressive acquisition.
• The second quarter of 2014 included an additional $12.4 million charge for the financial advisory and legal costs related to now-resolved strategic
matters, an additional $5.5 million in transaction costs in connection with the Progressive acquisition and $2.3 million in leasehold improvement
impairment charges related to the closure of 44 Company-operated stores announced July 15, 2014.
• The third quarter of 2014 included an additional $385,000 charge for financial advisory and legal costs related to now-resolved strategic matters, an
additional $6.9 million in restructuring charges related to the store closures noted above, $9.1 million due to the retirements of both the Company's
Chief Executive Officer and Chief Operating Officer, an additional $371,000 in transaction costs related to the acquisition of Progressive and
regulatory income of $1.2 million that reduced previously recognized regulatory expense upon the resolution of the regulatory investigation by the
California Attorney General.
88