Rent-A-Center Q1 Profit Down - Quick Facts

(RTTNews) - Rent-A-Center, Inc. (RCII) Monday reported first-quarter profit of $28.9 million or $0.54 per share, down from $46.1 million or $0.79 per share in the same period last year.

Adjusted earnings for the quarter were $0.57 per share. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $833.7 million from $819.3 million last year. Analysts expected revenues of $840.31 million. Same store sales declined 0.8 percent from last year, primarily attributable to a 6.1 percent decrease in the Core U.S. Segment.

Looking ahead to the fiscal 2014, the company has forecast earnings in the range of $2.30 to $2.50 per share. Analysts currently expect full-year earnings of $2.29 per share.