Aaron Rents Q2 revenues rise 15%

Aaron Rents, a specialty retailer of consumer electronics, office furniture and accessories, has reported revenues of $411.2 million for the second quarter of 2008, a 15% increase, compared to $359 million for the second quarter of 2007.

Net earnings were $23.3 million versus $19.7 million for the same period a year ago, an 18% increase. Diluted earnings per share were up 19% to $0.43 compared to $0.36 per share last year.

For the first six months of 2008, revenues were up 14% to $848.5 million, compared to $746.9 million for the first six months of 2007. Net earnings for the first half of 2008 were $48 million versus $48.9 million for the corresponding period last year. Diluted earnings per share for the first six months were $0.89 for both 2008 and 2007.

Charles Loudermilk, Sr, chairman of Aaron Rents, said: "We feel our second quarter results are exceptional. The company continues to grow and we are pleased that we service the large market of credit-constrained consumers who need and desire our products and services even in these difficult economic times."

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