Rent-A-Center, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenues of $769.611 million against $758.380 million a year ago. This 1.5% increase in total Revenue was primarily due to an increase of approximately $38.9 million in the Acceptance Now segment and approximately $4.3 million in the International segment, partially offset by a decrease of approximately $28.7 million in the Core U.S. segment. Operating profit was $34.382 million against $78.943 million a year ago. Earnings before income taxes was $23.683 million against $72.666 million a year ago. Net earnings was $13.064 million or $0.25 per diluted share against $47.209 million or $0.80 per diluted share a year ago. Capital expenditures was $34.606 million against $29.350 million a year ago. Adjusted EBITDA was $63.014 million against $98.186 million a year ago. Net uses of operating cash flow was approximately $39 million during the fourth quarter. For the quarter ended December 31, 2013, same store sales declined 1.1% as compared to the same period in the prior year, primarily attributable to a 5.5% decrease in the Core U.S. segment, partially offset by increases of 26.4% and 25.7% in the Acceptance Now and International segments, respectively.

For the year, the company reported revenues of $3,104.183 million against $3,082.646 million a year ago. This 0.7% increase in total Revenue was primarily due to increases of approximately $158.8 million in the Acceptance Now segment and approximately $18.2 million in the International segment, substantially offset by a decrease of approximately $147.9 million in the Core U.S. segment. For the year ended December 31, 2013, same store sales decreased 2.0% as compared to the prior year, primarily attributable to a 6.4% decrease in the Core U.S. segment, partially offset by increases of 30.1% and 40.6% in the Acceptance Now and International segments, respectively. Operating profit was $246.169 million against $315.671 million a year ago. Earnings before income taxes was $207.356 million against $284.448 million a year ago. Net earnings was $128.238 million or $2.32 per diluted share against $181.703 million or $3.06 per diluted share a year ago. Capital expenditures was $108.367 million against $102.453 million a year ago. year-to-date, the company generated approximately $134.3 million in operating cash flow. Adjusted EBITDA was $334.149 million compared to $394.921 million a year ago.

For the year of 2014, the company expects 4.5% to 7.5% total revenue growth. Approximately 3.0% to 5.5% same store sales growth. EBITDA in the range of $325 to $345 million. Annual effective tax rate of approximately 38.2%. Diluted earnings per share in the range of $2.30 to $2.50, including approximately $0.25 per share dilution related to Mexico. Capital expenditures of approximately $100 million. The company expects free cash flow to approximate a negative $65 million, largely due to the reversal of deferred tax liability.

The company expects to open approximately 100 domestic Acceptance Now kiosks. The company expects to open approximately 30 rent-to-own store locations in Mexico.