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September 24, 2017

America’s Car-Mart 1Q Income Up 54 Percent


America’s Car-Mart Inc. of Bentonville on Thursday reported fiscal first-quarter income of $7.1 million, up from $4.6 million in the same quarter a year ago.

Earnings per share rose to 87 cents from 52 cents.

Revenue was $145.8 million, an increase from the $142.7 million it reported a year ago.

“We are certainly happy to see the improved bottom line and are very appreciative of the efforts of all of our associates as they work tirelessly to help our customers succeed,” said CEO Hank Henderson. “Also, it was nice to see growth at the top line and positive same store sales for the quarter.”

Car-Mart closed four dealerships in fiscal 2016, including one in Trumann, and has 143 dealerships in the first quarter, up two from the same quarter a year ago. Car-Mart reported its sold 11,957 vehicles in the quarter, a decrease from the 12,244 it sold in the same quarter a year ago.

The average price of a sale, though, rose from $9,965 to $10,393. The company added 1,900 accounts during the quarter for a total of 66,900.

“While the results for the quarter were good, we know that we still have many significant opportunities for improvements for all 143 existing dealerships,” Henderson said. “We will continue to make that our number one priority. However, new dealership openings are also a very important component of our future plans and we do continue to expect to resume our openings at a more historical rate at some point in the future.”

America’s Car-Mart Inc. of Bentonville on Thursday reported fiscal first-quarter income of $7.1 million, up from $4.6 million in the same quarter a year ago.

Earnings per share rose to 87 cents from 52 cents.

Revenue was $145.8 million, an increase from the $142.7 million it reported a year ago.

“We are certainly happy to see the improved bottom line and are very appreciative of the efforts of all of our associates as they work tirelessly to help our customers succeed,” said CEO Hank Henderson. “Also, it was nice to see growth at the top line and positive same store sales for the quarter.”

Car-Mart closed four dealerships in fiscal 2016, including one in Trumann, and has 143 dealerships in the first quarter, up two from the same quarter a year ago. Car-Mart reported its sold 11,957 vehicles in the quarter, a decrease from the 12,244 it sold in the same quarter a year ago.

The average price of a sale, though, rose from $9,965 to $10,393. The company added 1,900 accounts during the quarter for a total of 66,900.

“While the results for the quarter were good, we know that we still have many significant opportunities for improvements for all 143 existing dealerships,” Henderson said. “We will continue to make that our number one priority. However, new dealership openings are also a very important component of our future plans and we do continue to expect to resume our openings at a more historical rate at some point in the future.”

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