UPDATE: Aaron's Beats Q4 Estimates

Aaron's Inc. (NYSE: AAN) reported stronger-than-expected results for the fourth quarter.The Atlanta, Georgia-based company posted quarterly net income of $22.1 million, or $0.30 per share, compared to $22.7 million, or $0.30 per share, in the year-ago period. Excluding items, the company earned $0.39 per share.Its revenue climbed 37.2% to $759.7 million. However, analysts were expecting earnings of $36 per share on revenue of $739.1 million.Aaron's Sales & Lease Ownership division revenue fell 2% to $522.6 million in the quarter.Same store revenue in the core business fell 2.8% in the quarter, while customer count on a same store basis slipped 4.6%.During the quarter, the company opened 6 Company-operated Aaron's Sales & Lease Ownership stores, 4 franchised stores and 1 HomeSmart store.John Robinson, Chief Executive Officer of Aaron's, Inc. said, "As we look at Aaron's today, we believe we have the right blend of assets to grow this Company into a true omni-channel lease purchase provider. Aaron's people, technology, brand, customer-base, retail relationships, store footprint, distribution network and manufacturing assets uniquely position us to execute this strategy."For full year, Aaron's projects earnings of $1.90 to $2.10 per share, on total revenue of 3.05 billion to $3.25 billion. The company also expects FY15 core sales of $2.05 to $2.15 billion.Aaron's shares fell 0.89% to close at $31.22 yesterday.