|Page (1) of 1 - 01/08/13||email article||print page|
Bentonville, AR, Jan. 8, 2013 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) today
announced the opening of its 119th dealership. The
dealership is located in Woodstock, Georgia.
"Woodstock is our first location in Georgia, a
state that we are very excited about as we look to the future. We
will continue to expand our business to more cities like Woodstock
as we grow. Our Expansion Department continues to raise the bar and
the success we are having with our new dealership openings is
certainly proof of that," said William H. ("Hank") Henderson,
President and Chief Executive Officer of America's Car-Mart.
"Woodstock is our 5th new dealership for this fiscal year. We
presently have five 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 Woodstock dealership will be managed by
Chance Armstrong who is very excited to lead our efforts at this
great new Car-Mart location."
"Our current plans are to open an additional
five 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 119 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
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
· performance of
· same store
· 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:
availability of credit facilities to support the Company's
· the Company's
ability to underwrite and collect its loans effectively;
of quality vehicles at prices that will be affordable to customers;
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
CONTACT: William H. ("Hank") Henderson, CEO at (479) 464-9944 or Jeff Williams, CFO at (479) 418-8021