America's Car-Mart Reports Diluted Earnings per Share of $2.83 on Revenues of $188 Million

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

[{"type":"text","content":"ROGERS, Ark., Aug. 17, 2020 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced its operating results for the first quarter of fiscal year 2021.\n “Once again, results were strong, and our ‘scoreboard’ is solid. We are certainly proud of the operating success; however, we do not celebrate the scoreboard. We look deeper at the quality of our daily work and how we can continue to improve and fulfill our obligation to serve significantly more customers into the future. While we are making good progress we maintain a sense of urgency to quickly improve in all areas,” said Jeff Williams, President and CEO. “We have a great team here at America’s Car-Mart sharing a common goal of giving our customers peace of mind with their local transportation needs by keeping them on the road after the sale. How we conduct our business has a direct effect on the quality of life and the overall health of our communities, a responsibility we take to heart. Through the continuing challenges related to the pandemic and social unrest, we continue to focus on the health, safety, and growth of our associates and how we can add value in the communities we serve. “We have stepped up and will continue to make a positive difference by holding ourselves to a higher standard, always moving our expectations up as we move forward,” added Mr. Williams. “We have never been more certain of our purpose and our place in the world and will continue to make investments in our future with laser focus in the areas of recruiting, training and retention of great associates. These investments include our new Car-Mart University program, an enhanced customer experience with emphasis on digital channels via our Customer Care Team, and better inventory procurement as we leverage our scale and improve the quality and consistency of the vehicles we sell. “Our results were strong with top-line growth up over 9%, net charge-offs down significantly and nice leveraging of our selling, general and administrative costs. Our balance sheet is in great shape and will allow for us to be nimble as we see opportunities. We are very thankful to our associates for their hard-work, dedication, and commitment to each other and to our customers and our communities. Once, again, we have a great team and we will be intentional about making a positive difference in the world ...

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