99LTO, LLC, doing business as HomeSmart, operates a store that provides rental purchase options for furniture, appliances, computers, and electronics. It offers accessories and beddings; and bedroom, dining room, entertainment, and living room furniture. The company also offers kitchen and laundry appliances; desktops, laptops, and tablets; and televisions and other electronic products. In addition, it offers warranty and repair services. The company was incorporated in 2010 and is headquartered in Atlanta, Georgia. 99LTO, LLC operates as a subsidiary of Aaron's, Inc.
309 East Paces Ferry Road NE
Atlanta, GA 30305
Founded in 2010
HomeSmart Announces Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Fiscal 2014
Feb 7 14
HomeSmart announced revenue results for the fourth quarter and full year ended December 31, 2013. Revenues of HomeSmart for the quarter were $15.2 million. That's 2% up over the fourth quarter of 2012.
For the year, revenues were $62.7 million versus $55.2 million for the same period a year ago, which will be a 14% increase.
The company expects profit in 2014 in HomeSmart.
HomeSmart Reports Unaudited Revenue Results for the Third Quarter and Nine Months Ended September 30, 2013
Oct 24 13
HomeSmart reported unaudited revenue results for the third quarter and nine months ended September 30, 2013. For the quarter, the company’s revenues were $14.8 million, a 5% increase over the $14.2 million in revenues in the third quarter of 2012.
The company’s revenues for the first nine months of 2013 were $47.6 million against $40.4 million for the same period a year ago, an 18% increase.
Aaron's, Inc., Aaron Investment Company and 99LTO, LLC Enter into Amendment No. 2 to Note Purchase Agreement with the Prudential Insurance Company of America
Oct 15 13
On October 8, 2013, Aaron's, Inc. and its subsidiaries, Aaron Investment Company and 99LTO, LLC entered into Amendment No. 2 to Note Purchase Agreement with The Prudential Insurance Company of America and certain other purchasers, as set on the signature pages thereof. The Prudential Notes Amendment amends the Note Purchase Agreement dated as of July 5, 2011, as amended on December 19, 2012, pursuant to which the company and its subsidiaries named above, as co-obligors, issued $125 million in senior unsecured notes to the purchasers in a private placement. The notes bear interest at the rate of 3.75% per year and mature on April 27, 2018. The Prudential Notes Amendment amends the Prudential Notes Agreement to, among other things, (i) remove the Minimum Consolidated Net Worth" financial covenant which previously required that the company maintain a certain minimum consolidated net worth and (ii) change the Restricted Payments" negative covenant, which imposes certain restrictions on the amount of payments that can be made in respect of dividends, distributions, redemptions and stock repurchases paid in cash, to make such covenant less restrictive. The company remains subject to other financial covenants under the Prudential Notes Agreement which require the Company to maintain a minimum ratio of debt to earnings before interest, taxes, depreciation and amortization and a minimum fixed charge coverage ratio. If the company fails to comply with these covenants, the company will be in default under the Prudential Notes Agreement and the purchasers would have the right to exercise certain default remedies. On October 8, 2013, the company entered into the Fifth Amendment to Revolving Credit Agreement with the lending institutions listed on the respective signature pages thereof, and SunTrust Bank, as administrative agent for the lending institutions. The Credit Agreement Amendment amends the Revolving Credit Agreement dated as of May 23, 2008, as amended as of March 31, 2011, May 18, 2011, July 1, 2011 and December 13, 2012. The Credit Agreement provides, subject to certain terms and conditions, for unsecured borrowings by the Company of up to $140 million (including a letter of credit and swingline loan sub facility). On October 8, 2013, the Company entered into the Sixth Amendment to Second Amended and Restated Loan Facility Agreement and Guaranty with SunTrust Bank, as servicer, and the other participants listed on the respective signature pages thereof. The Franchisee Loan Facility Amendment amends the Second Amended and Restated Loan Facility Agreement and Guaranty dated as of June 18, 2010, as amended as of March 31, 2011, May 18, 2011, July 1, 2011, May 16, 2012 and December 13, 2012. Pursuant to this facility, subject to certain terms and conditions, the Company's franchisees can borrow funds guaranteed by the company.