America's Car-Mart Reports Diluted Earnings per Share of $3.57 on Record Revenues of $280 Million

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

[{"type":"text","content":"ROGERS, Ark., Aug. 17, 2021 (GLOBE NEWSWIRE) -- America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced its operating results for the first quarter of fiscal year 2022. “We continue to make foundational investments to our business model, and as expected, we are experiencing an increasing capacity to serve more customers at the highest levels. We ended the quarter with over 91,100 active customers, an increase of over 3% since the beginning of the fiscal year. For over 40 years, our customers’ lives have been better as part of the Car-Mart family, and we have an obligation to serve an ever-increasing customer base as we move forward. We have a unique place in the markets we serve as our customers rely on us to keep them on the road and give them peace of mind with local transportation needs. We believe that the significant investments we are making in the areas of Recruiting, Training and Retention, Inventory Procurement/Management, Customer Experience and Digital/Information Technology are already having positive effects and will allow us to continue to improve, grow and leverage our strengths,” said Jeff Williams, President and CEO. “Our balance sheet has allowed us to take advantage of challenging market conditions and has allowed us to demonstrate how nimble we can be in this dynamic, quickly changing industry. We continue to transition from a collections-focused company to a sales company that is very good at collections, and our associates have embraced this shift and are enthusiastic about the opportunities for our company and for them individually. The past 18 months has been difficult, but the resiliency and strength of our 2,000+ associates and their dedication to our Mission, Vision and Values has been inspirational. Our success is the direct result of their passion for the purpose in our daily work.” “We ended the quarter with an average of 604 customers per dealership (up from 583 at April 30, 2021). As we have stated, we believe that most of our dealerships can support 1,000 or more customers at some point in the future. We have significant opportunities for growth by increasing customer count at our existing locations and we will continue to push for market share gains. In addition, we will continue to open new dealerships and look for acquisition opportunities in markets that align with our business. The infrastru...

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