Bentonville, Arkansas, March 28, 2012 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) today
announced the opening of its newest dealership. The dealership is
located in Tupelo, Mississippi.
"Tupelo is our 2nd dealership in Mississippi. We
recently opened a dealership in Columbus Mississippi and we are
very excited to be expanding our offering in the state," said
William H. ("Hank") Henderson, President and Chief Executive
Officer of America's Car-Mart. "Car-Mart strives to earn the repeat
business of our customers by providing quality vehicles, affordable
payment terms, and excellent service. With each new dealership we
open we have an opportunity to provide our excellent service to
more customers. The Tupelo dealership will be managed by Kelly
Mitchell who is very excited to have this opportunity to serve our
customers and to earn their repeat business in the future."
"We now serve customers from 113 dealerships in
nine states. Tupelo is the 7th dealership we have added in fiscal
2012. We anticipate opening a couple of additional locations
between now and the end of our fiscal year which ends on April 30,
2012. We will continue to focus on increasing sales volumes at our
existing stores and at the same time adding great new locations,"
said Jeff Williams, Chief Financial Officer. "Our solid financial
results, strong balance sheet and competitive strengths will
continue to allow us to provide the best possible service to our
53,000+ active customers and to future customers we will gain as we
grow. Beyond this fiscal year, we expect to open additional
dealerships at an approximate 10% annual rate."
About America's Car-Mart
America's Car-Mart operates 113 automotive
dealerships in nine states and is the largest publicly-held
automotive retailer in the United States focused exclusively on the
"Integrated Auto Sales and Finance" segment of the used car
market. The Company emphasizes superior customer service and
the building of strong personal relationships with its customers.
The Company operates its dealerships primarily in smaller cities
throughout the South-Central United States selling quality used
vehicles and providing financing for substantially all of its
customers. For more information about America's Car-Mart,
including investor presentations, please visit our website at
www.car-mart.com.
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements address the Company's
future objectives, plans and goals, as well as the Company's
intent, beliefs and current expectations regarding future operating
performance, and can generally be identified by words such as
"may," "will," "should," "could," "believe," "expect,"
"anticipate," "intend," "plan," "foresee," and other similar words
or phrases. Specific events addressed by these
forward-looking statements include, but are not limited to:
· new dealership
openings;
· performance of
new dealerships;
· same store
revenue growth;
· annual growth
of the number of dealerships; and
· the Company's
business and growth strategies.
These forward-looking statements are based on the Company's
current estimates and assumptions and involve various risks and
uncertainties. As a result, you are cautioned that these
forward-looking statements are not guarantees of future
performance, and that actual results could differ materially from
those projected in these forward-looking statements. Factors
that may cause actual results to differ materially from the
Company's projections include, but are not limited to:
· the
availability of credit facilities to support the Company's
business;
· the Company's
ability to underwrite and collect its loans effectively;
·
competition;
· availability
of quality vehicles at prices that will be affordable to customers;
and
· general
economic conditions in the markets in which the Company operates,
including but not limited to fluctuations in gas prices, grocery
prices and employment levels.
The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the dates on which they are
made.
CONTACT: William H. ("Hank") Henderson, CEO at (479) 464-9944 or Jeff Williams, CFO at (479) 418-8021
Source: America's Car-Mart Inc.