America?s Car-Mart Inc. Reports Earnings Jump
by December 23, 2002 12:00 am 48 views
On Dec. 10, America’s Car-Mart Inc. of Bentonville reported a 57 percent jump in earnings from continuing operations in the second quarter, which ended Oct. 31. Higher gross margins and a rise in revenue contributed to the increase.
The company, which operates 62 used car dealerships in seven states, said it earned $3.1 million, or 40 cents per share, in the fiscal second quarter ended Oct. 31, compared with $2.0 million, or 29 cents per share, in the year-ago quarter.
In October, Car-Mart said it expected to earn 38 cents per share.
Revenue from continuing operations rose to $38.3 million from $31.8 million a year ago.
The company said it stood by its earnings guidance for the rest of the fiscal year and pegged earnings from continuing operations at $1.69 per share for the full year, reflecting better-than-expected second-quarter earnings.