America’s Car-Mart Caps Impressive Year With Strong Fourth Quarter
by May 24, 2012 5:59 pm 97 views
America's Car-Mart capped off an impressive year with a final quarter of strong sales and profits.
The Bentonville-based “buy here, pay here” used car chain posted fourth quarter net income of $9.64 million on revenue of $113.48 million. One year ago, Car-Mart recorded profits of $8.37 million on revenue of $103.39 million.
For the full year, Car-Mart posted earnings of $32.99 million on income of $430.18 million. In the previous fiscal year, the company earned $28.21 million on revenue of $379.25 million.
“It goes without saying that we are very proud of our results for 2012,” said William H. “Hank” Henderson, President and CEO of Amer
ica's Car-Mart.
“We continue to see healthy growth at the top line as we add new locations and increase volumes at existing dealerships. We have capacity to continue our growth by serving more customers looking for good, basic affordable transportation. We now have 114 locations in nine states and we have already identified several potential new cities to support our goal of adding new dealerships at an approximate 10% annual rate into the future,” Henderson said.
America's Car-Mart (NASDAQ: CRMT) shares closed trading on Thursday at $45.02. The company's stock has traded between $23.99 and $48.24 per share during the past 52 weeks.