Car-Mart Net Revenue Up Slightly While Net Income Slips

by Marty Cook  on Wednesday, Aug. 20, 2014 6:06 pm  

William H. "Hank" Henderson, America's Car-Mart's president and CEO.

America’s Car-Mart Inc. of Bentonville announced first-quarter net income of $7.26 million, down about 3 percent from the same quarter a year ago.

The company said diluted earnings per share were 79 cents, the same as a year ago but more than the average analyst estimate of 62 cents. Car-Mart reported revenue of $127 million for the quarter, up from $123 million a year ago.

Car-Mart reported a 7.9 percent increase in vehicles sold to 11,482 but the average monthly sales per store remained flat at approximately 28. The company opened two new dealerships in the first quarter and now has 136 in 10 states.

“We remain convinced that the business model will continue to support significant unit volume expansion,” said CEO Hank Henderson in a statement. “We are excited about our future.”

 

 

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