America's Car-Mart Reports Diluted Earnings per Share of $1.35 on Record Revenues of $196 Million

About this update from America's Car-mart, Inc.

[{"type":"text","content":"BENTONVILLE, Ark., May 21, 2020 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced its operating results for the fourth quarter and the full fiscal year 2020. The fourth quarter results include an $11.7 million pretax charge to increase the allowance for credit losses due to the COVID-19 pandemic.\n “As we push through the COVID-19 pandemic, our financial position and operating results reflect the quality and power of our Car-Mart business model. We are a ground-level operator and were able to turn on a dime to keep our dealerships open in accordance with all state and local orders so that we could continue serving the essential needs of our communities throughout the crisis,” said Jeff Williams, President and CEO. “To better serve our customers, as well as for their health and safety, we quickly launched curbside and home delivery processes. We also increased our digital efforts, which included expanding communications channels with our customers to ensure they know how much we care about them individually. “In our nearly 40 years of business, we have weathered many storms, but through them all, we were steadfast in our focus on the customer experience – ‘Keeping our Customers on the Road and giving them Peace of Mind.’ Our commitment to our customers has never been stronger, and during these challenging times, we moved even closer to our customers and united together as a family. We are a small-town character lender and really stepped up and walked the walk by truly living out our company’s mission, vision, and values in our daily work. “Our company has most certainly prioritized the safety and well-being of our associates and customers during the pandemic. We will continue to be diligent and aggressive in educating ourselves and our team members on ways to help prevent or reduce the risk of exposure to the virus,” added Mr. Williams. “Words can’t express how proud I am of our associates, and how our team continues to rise to the occasion in the face of maybe the greatest healthcare crisis and most certainly the largest financial disruption in the history of our country. The fact that we deeply understand our company’s purpose is carrying us through this crisis and will set a firm foundation for us to continue our path of serving more customers with great vehicles and excellent customer service. Thank ...

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