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AARON RENTS, INC. ANNOUNCES RECORD THIRD QUARTER AND NINE MONTH RESULTS

 ATLANTA, Jan. 27 /PRNewswire/ -- Aaron Rents, Inc. (NASDAQ: ARONA ARONB), the nation's largest furniture rental and sales company, today announced results of operations reached record levels for the third quarter and nine months ended Dec. 31, 1992.
 Net earnings for the third quarter were $1,628,000, or $.19 per share, an increase of 85 percent over the $882,000, or $.10 per share recorded for the third quarter a year ago. Net earnings for the nine month period were $4.7 million, or $.54 per share, compared to $2.0 million or $.24 per share last year. Earnings per share have been adjusted to reflect the October 1992 reclassification of the company's Common Stock into one share of Class A Common Stock and one share of Class B Common Stock.
 Revenues for the third quarter were up 15 percent to $38.0 million compared to $33.1 million for the same period a year ago. Revenues for the nine month period were $115.7 million vs. $104.6 million a year ago, an 11 percent increase. Revenues gained in all aspects of the company's business, and were led by Aaron's Rent-to-Own, the company's rent-to-own division.
 "We are very pleased with this record performance," R. Charles Loudermilk Sr., chairman and chief executive officer said. "The results for both the rent-to-rent and rent-to-own segments of our business are very positive. We anticipate this strong performance to continue the remainder of the fiscal year."
 Aaron Rents, Inc., based in Atlanta, operates more than 150 stores in 20 states for the sale and rental of residential and office furniture and equipment. The company produces furniture for its rental stores at five plants in Georgia and Florida and recently opened its first business equipment rental store in Atlanta.
 AARON RENTS, INC.
 3 mos. ended 9 mos. ended
 12/31/92 12/31/91 12/31/92 12/31/91
 (In thousands, except per share amounts)
 Revenues $37,956 $33,059 $115,700 $104,550
 Net earnings 1,628 882 4,661 1,991
 Earnings per share (a) .19 .10 .54 .24
 Weighted average
 shares outstanding 8,637 8,457 8,589 8,455
 (a) Earnings per share have been adjusted to reflect the October 1992 reclassification of the company's common stock into one share of Class A Common Stock and one share of Class B Common Stock.
 -0- 1/27/93
 /CONTACT: Gilbert L. Danielson, vice president - Finance and chief financial officer of Aaron Rents, 404-231-0011/
 (ARON)


CO: Aaron Rents, Inc. ST: Georgia IN: REA SU: ERN

RA-BR -- AT005 -- 9559 01/27/93 10:56 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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