Financial results
By Furniture Today Staff -- Furniture Today, November 2, 2009
Earnings per share are fully diluted, and all figures in parentheses are losses or declines.
Aaron Rents
| Quarter ended 9/30 | 2009 | 2008 | Change |
| (a) Includes franchise royalties and fees of $12.9 million in the 2009 quarter, $11.1 million in the 2008 quarter, $38.9 million in the 2009 nine months and $33.1 million in the 2008 nine months. (b) Includes net losses from discontinued operations of $19,000 in the 2009 quarter and $304,000 in the 2009 nine months, and net earnings from discontinued operations of $1.2 million in the 2008 quarter and $4.3 million in the 2008 nine months. |
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| Revenues (a) | $415,259,000 | $388,020,000 | 7.0% |
| Operating income | 36,009,000 | 34,701,000 | 3.8% |
| Net income (b) | 24,636,000 | 21,078,000 | 16.9% |
| Earnings per share | 0.45 | 0.39 | 15.4% |
| 9 months ended 9/30 | 2009 | 2008 | Change |
| Revenues (a) | $1,306,519,000 | $1,187,714,000 | 10.0% |
| Operating income | 140,035,000 | 112,052,000 | 25.0% |
| Net income (b) | 87,537,000 | 69,110,000 | 26.7% |
| Earnings per share | 1.60 | 1.28 | 25.0% |
Ethan Allen
| Quarter ended 9/30 | 2009 | 2008 | Change |
| (a) Includes restructuring and impairment charge of $612,000 in the 2009 quarter and benefit of $1.6 million in the 2008 quarter. Also includes income tax benefit of $4.7 million in the 2009 quarter and expense of $3 million in the 2008 quarter. |
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| Sales | $136,190,000 | $205,841,000 | (33.8%) |
| Operating income | (15,276,000) | 10,581,000 | |
| Net income (a) | (13,579,000) | 7,422,000 | |
| Earnings per share | (0.47) | 0.26 | |
Flexsteel Inds.
| Quarter ended 9/30 | 2009 | 2008 | Change |
| (a) Includes pretax facility consolidation costs of $1.3 million in the 2008 quarter. |
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| Sales | $75,940,000 | $91,417,000 | (16.9%) |
| Operating income | 2,415,000 | 366,000 | 559.8% |
| Net income (a) | 1,380,000 | (749,000) | — |
| Earnings per share | 0.21 | (0.11) | — |
Rent-A-Center
| Quarter ended 9/30 | 2009 | 2008 | Change |
| (a) Includes expenses for amortization and writedown of intangibles of $585,000 in the 2009 quarter, $3.5 million in the 2009 quarter, $2.4 million in the 2009 nine months and $12.1 million in the 2008 nine months. Also includes restructuring expenses of $213,000 in the 2008 quarter and $3.1 million in the 2008 nine months, and a litigation credit of $4.9 million in the 2009 nine months. |
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| Revenues | $671,251,000 | $708,755,000 | (5.3%) |
| Operating income | 64,952,000 | 62,307,000 | 4.2% |
| Net income (a) | 36,840,000 | 29,379,000 | 25.4% |
| Earnings per share | 0.55 | 0.44 | 25.0% |
| 9 months ended 9/30 | 2009 | 2008 | Change |
| Revenues | $2,079,043,000 | $2,184,422,000 | (4.8%) |
| Operating income | 219,301,000 | 225,758,000 | (2.9%) |
| Net income (a) | 124,161,000 | 103,478,000 | 20.0% |
| Earnings per share | 1.86 | 1.54 | 20.8% |
Stanley Furniture
| Quarter ended 9/26 | 2009 | 2008 | Change |
| (a) Includes restructuring charges of $1.1 million in the 2009 quarter, $5.2 million in the 2008 quarter, $1.2 million in the 2009 nine months and $5.5 million in the 2008 nine months. |
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| Sales | $38,455,000 | $54,483,000 | (29.4%) |
| Operating income | (7,476,000) | (5,616,000) | |
| Net income (a) | (5,073,000) | (3,489,000) | |
| Earnings per share | (0.49) | (0.34) | |
| 9 months ended 9/26 | 2009 | 2008 | Change |
| Sales | $120,545,000 | $176,165,000 | (31.6%) |
| Operating income | (14,629,000) | (2,587,000) | |
| Net income (a) | (10,472,000) | (2,509,000) | |
| Earnings per share | (1.01) | (0.24) | |
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