America’s Car-Mart Inc. (NASDAQ:CRMT) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
America’s Car-Mart Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.15% to $0.92 in the quarter versus EPS of $0.97 in the year-earlier quarter.
Revenue: Rose 10.63% to $125.54 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: America’s Car-Mart Inc. reported adjusted EPS income of $0.92 per share. By that measure, the company met the mean analyst estimate of $0.92. It beat the average revenue estimate of $119.2 million.
Quoting Management: “We are very pleased with our results for the quarter and for the year and are very excited about our future. We opened 10 new dealerships during the year, four of which were opened during the fourth quarter. We couldn’t be happier with our Expansion Department and the great work being done by that group. We have several great new locations in process and our expectation continues to be that we will open new dealerships in fiscal 2014 and beyond at an approximate 10% annual rate,” said William H. (“Hank”) Henderson, President and Chief Executive Officer of America’s Car-Mart. “We continue to make solid progress with our training efforts especially related to our Manager in Training Program. Our Training Department is doing an outstanding job of hiring, training and supporting our Future Managers which is so crucial to our long-term success. Additionally, the re-write of our operational software is progressing well and is certainly expected to increase lot level efficiencies. It goes without saying that this project is a very important component of our effort to create an infrastructure to support more customers from more locations into the future.”
Key Stats (on next page)…