Aarons 2003 Annual Report Download - page 3

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1
Revenues By Year Net Earnings By Year
Year Ended Year Ended
(Dollar Amounts in Thousands, December 31, December 31, Percentage
Except Per Share) 2003 2002 Change
Systemwide Revenues1$1,033,350 $874,709 18.1%
OPERATING RESULTS
Revenues $ 766,797 $640,688 19.7%
Earnings Before Taxes 57,843 43,652 32.5
Net Earnings 36,426 27,440 32.7
Earnings Per Share 1.12 .87 28.7
Earnings Per Share
Assuming Dilution 1.10 .86 27.9
FINANCIAL POSITION
Total Assets $ 555,292 $483,648 14.8%
Rental Merchandise, Net 343,013 317,287 8.1
Credit Facilities 79,570 73,265 8.6
Shareholders’ Equity 320,186 280,545 14.1
Book Value Per Share 9.77 8.61 13.5
Debt to Capitalization 19.9% 20.7%
Pre-Tax Profit Margin 7.5 6.8
Net Profit Margin 4.8 4.3
Return on Average Equity 12.1 11.0
STORES OPEN AT YEAR END
Sales & Lease Ownership 500 412 21.4%
Sales & Lease Ownership Franchised 287 232 23.7
Rent-to-Rent 60 70 (14.3)
Total Stores 847 714 18.6%
1Refer to page 15 for additional information.
Financial Highlights
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1999 2000 2001 2002 2003
Company-Operated Sales & Lease Ownership Stores
Rent-to-Rent Stores
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1999 2000 2001 2002 2003
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