America’s Car-Mart Reports Improved Performance Featured

By Staff Writer May 22, 2018

America’s Car-Mart Inc. reported net earnings of $10.2 million for the quarter ended April 30.


Revenues were $169 million, compared to $153 million for the prior year quarter.


Retail unit sales increased to 13,082 from 12,126 for the prior year period with improved productivity at 31.1 retail units sold per store per month, up from 29.1 for the prior year period.
Average retail sales price increased $268 to $10,922.


Gross profit margin percentage decreased to 40.6 percent from 41.5 percent for the prior year quarter.


Collections as a percentage of average finance receivables increased to 15.8 percent from 15.6 percent for the prior year quarter.


The weighted average contract term remained flat at 32.5 months compared to the prior year quarter.


Net charge-offs as a percentage of average finance receivables of 7.5 percent, down from 8.7 percent for prior year quarter.


Accounts over 30 days past due decreased to 3.5 percent from 3.6 percent at April 30, 2017.


Average percentage of finance receivables current was 82.2 percent, up from 81 percent at April 30, 2017.


Provision for credit losses was 25.4 percent of sales vs. 28.4 percent for prior year quarter.


Selling, general and administrative expenses were 16.9 percent of sales vs. 17.2 percent for prior year quarter.


The active accounts base was approximately 71,100, an increase of about 4,300 from April 30, 2017.

Last modified on Tuesday, 22 May 2018 20:37