Aarons 2000 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2000 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.

Page out of 32

  • 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

26
We have audited the accompanying consolidated balance sheets of Aaron Rents, Inc. and Subsidiaries
as of December 31, 2000 and 1999, and the related consolidated statements of earnings, shareholders’
equity and cash flows for the years ended December 31, 2000, 1999 and 1998. These financial statements
are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
consolidated financial position of Aaron Rents, Inc. and Subsidiaries as of December 31, 2000 and 1999,
and the consolidated results of their operations and their cash flows for the years ended December 31,
2000, 1999 and 1998, in conformity with accounting principles generally accepted in the United States.
Atlanta, Georgia
February 19, 2001
Report of Independent Auditors
To the Board of Directors and
Shareholders of Aaron Rents, Inc.:
Note L: Quarterly Financial Information
(Unaudited)
First Second Third Fourth
(In Thousands Except Per Share) Quarter Quarter Quarter Quarter
Year Ended December 31, 2000
Revenues $125,372 $121,910 $124,850 $130,788
Gross Profit 65,660 64,357 64,818 67,158
Earnings Before Taxes 11,741 11,177 10,799 10,189
Net Earnings 7,278 6,929 6,706 6,348
Earnings Per Share $ .37 $ .35 $ .34 $ .32
Earnings Per Share Assuming Dilution .36 .35 .34 .32
Year Ended December 31, 1999
Revenues $104,303 $107,364 $109,379 $116,313
Gross Profit 57,706 59,246 59,340 59,523
Earnings Before Taxes 10,779 10,615 9,860 10,048
Net Earnings 6,679 6,575 6,108 6,240
Earnings Per Share $ .33 $ .33 $ .30 $ .32
Earnings Per Share Assuming Dilution .33 .32 .30 .31