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Aaron's Inc Lowers FY 2013 Revenue Guidance; Lowers High End Of Prior FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates; Issues Q3 2013 Guidance In Line With Analysts' Estimates


Wednesday, 24 Jul 2013 04:19pm EDT 

Aaron's Inc announced that it is updating its guidance for fiscal 2013. For fiscal 2013, the Company now expects revenues (excluding revenues of franchisees) of approximately $2.30 billion, a decrease over the previous guidance of approximately $2.35 billion, GAAP diluted earnings per share in the range of $1.98 to $2.06 and non-GAAP diluted earnings per share (EPS) in the range of $2.15 to $2.23, a change from the previous guidance of $2.15 to $2.27, which excludes the accrual for the regulatory investigation and the retirement and vacation related charges. For the third quarter of 2013, the Company expects revenues (excluding revenues of franchisees) of approximately $550 million and diluted earnings per share (EPS) in the range of $.48 to $.52 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $2.3 billion and EPS of $2.19 for fiscal 2013; and revenue of $565 million and EPS of $0.51 for the third quarter of 2013. 

Company Quote

24.76
0.54 +2.23%
4:04pm EDT