Aaron Rents Reports Solid Fourth Quarter

Shares of Aaron Rents(RNT Quote) were rising Tuesday after the furniture- and electronics-rental company reported solid fourth-quarter earnings and raised its guidance for 2009, suggesting that at least one company is cashing in on consumers' drive to have -- but not hold -- during the economic downturn.

According to the company, fourth-quarter revenue for fiscal 2008 rose 11% to $404.9 million, up from $364.7 million for the same period a year earlier. Net income rose to 39 cents per share on earnings of $21.1 million, up from 28 cents per share on $15.5 million in 2007.

Analysts surveyed by Thomson Reuters had expected EPS of 35 cents on revenue of $418.5 million.

Additionally the company said fourth-quarter same-store revenue increased 6.2% from the year-ago period. ...