America's Car-Mart Reports Diluted Earnings per Share of $2.85 on Record Revenues of $228 Million

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

[{"type":"text","content":"ROGERS, Ark., Feb. 16, 2021 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced its operating results for the third quarter of fiscal year 2021. “Our results reflect the power of our business model which, at its core, is based on giving our customers ‘peace of mind’ by ‘keeping them on the road.’ What we do is unique, and our customers recognize and appreciate our passionate approach in providing an outstanding customer experience before, during and after the vehicle sale to help them succeed. As we move forward, we believe more consumers will see the benefits of being part of the Car-Mart Family,” said Jeff Williams, President and CEO. “We are proud of our work, but we believe we are in the early stages of our transformation from a collections company to more of a sales company that is very good at collections. When you combine our community-based bricks and mortar structure with a growing digital presence, for which we are investing significant resources, we are very optimistic about our place in the world and the advantages we will continue to leverage as we move forward.” “During the quarter, we saw a strong increase in the top line with solid volume productivity improvement. Even with our increasing investments in our infrastructure to support a much larger customer base, we saw nice leveraging of our cost structure. Also, our credit results once again showed significant improvement over prior year quarters,” added Mr. Williams. “We will continue to make significant investments in key areas as we fulfill our vision – to be America’s best auto sales and finance company in the eyes of our associates and customers while improving the communities we serve. We believe that we are seeing some initial benefits from the various initiatives we have been working on and we will continue to push to get better. Our on-going investments will not only keep us relevant but will put us in the position of being a market leader focused on recruiting, training, and retaining great associates, inventory procurement and delivering great customer experience.” “Foundational to these efforts is a significant investment and upgrade to our information technology platform. We have recently begun the implementation of Microsoft Dynamics 365, a full Enterprise Resource Planning product. An important part of this project will be t...

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