Bentonville, Arkansas, Jan. 31, 2013 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) today
announced the opening of its 120th dealership. The dealership is
located in Bethel Heights, Arkansas.
"Bethel Heights is our 38th location
in Arkansas. This dealership will be operated under the Discount
Auto brand. Our growth continues and it is truly amazing to look
back and realize that our very first dealership was opened in
Rogers Arkansas way back in 1981. We have a proud history and a
bright future. Our plans are to continue to expand our business to
more cities like Bethel Heights as we grow," said William H.
("Hank") Henderson, President and Chief Executive Officer of
America's Car-Mart. "Bethel Heights is our 6th new dealership for
this fiscal year. We presently have four new locations secured
which will keep us on track for 10 for the full fiscal year."
"For 31 years, Car-Mart has provided quality
vehicles, affordable payment terms, and excellent service while
expanding throughout the South-Central United States. With each new
dealership we have an opportunity to provide our excellent service
to more customers and to earn their repeat business in the future,"
added Mr. Henderson. "The Bethel Heights dealership will be managed
by Eric Cynova who is very excited to lead our efforts at this
great new location."
"Our current plans are to open an additional
four new dealerships between now and the end of the current fiscal
year," 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 56,000+ active accounts and to future customers we will gain as
we grow. We continue to expect to open additional dealerships at an
approximate 10% annual rate beyond fiscal 2013."
About America's Car-Mart
America's Car-Mart operates 120 automotive
dealerships in ten 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
- the Company's ability to underwrite and collect its loans
- 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
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