Car-Mart 4Q income up 10%

If there was a dark cloud in the highlights for America’s Car-Mart’s fourth quarter results, it would have to be invisible.

The Bentonville-based "buy here, pay here" used car dealer saw revenues rise 10% to $103.4 million, up from $88.8 million one year ago. Same-store sales jumped 9.5%.

Quarterly net income topped $8.3 million, a 9% improvement from its $7.2 million in earnings in the fourth quarter of last year.

For its full fiscal year, Car-Mart saw profits rise to $28.2 million on improved revenue of $379.2 million.

"We are very pleased with our results for the quarter and for the full fiscal year. Our hard work and dedication to helping our customers succeed is really showing up in our results. It is exciting to be adding customers and expanding to great new markets," William "Hank" Henderson, president and CEO of America’s Car-Mart, said in a statement.

Henderson said sales volumes and inventory quantity were "outstanding" during the quarter. And, a one-time trouble spot for the company’s finances continued its corrective track.

"Also, we are happy to report that credit losses were down both sequentially and when compared to last year’s fourth quarter, as we improved our lot level execution within the collections area of the business" Henderson said.

Car-Mart also announced it would continue its steady expansion plans. The company added 9 new locations in the last fiscal year and said it plans to open 10 more during the next 12 months.

Shares of Car-Mart (NASDAQ: CRMT) closed on Thursday at $24.46, up 16 cents. During the past 52 weeks the share price has ranged from a $30.10 high to a $20.40 low.