UPDATE: Rent-A-Center Q4 Profit Down 4%
Rent-A-Center (NASDAQ: RCII) reported a 4% drop in its net income in the fourth quarter.
Rent-A-Center's quarterly net income fell to $47.5 million, or $0.81 per share, versus $49.3 million, or $0.83 per share, in the year-ago period.
Its revenue climbed 3% to $758.4 million. However, analysts expected net income of $0.83 per share on revenue of $777.9 million.
For 2013, Rent-A-Center projects earnings of $3.25 to $3.40 per share on revenue of $3.24 billion to $3.33 billion. However, analysts were expecting earnings of $3.49 per share on revenue of $3.27 billion.
Rent-A-Center shares closed at $35.43 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.