Bentonville, Arkansas, Jan. 31, 2013 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) todayannounced the opening of its 120th dealership. The dealership islocated in Bethel Heights, Arkansas. "Bethel Heights is our 38 th locationin Arkansas. This dealership will be operated under the DiscountAuto brand. Our growth continues and it is truly amazing to lookback and realize that our very first dealership was opened inRogers Arkansas way back in 1981. We have a proud history and abright future. Our plans are to continue to expand our business tomore cities like Bethel Heights as we grow," said William H.("Hank") Henderson, President and Chief Executive Officer ofAmerica's Car-Mart. "Bethel Heights is our 6th new dealership forthis fiscal year. We presently have four new locations securedwhich will keep us on track for 10 for the full fiscal year." "For 31 years, Car-Mart has provided qualityvehicles, affordable payment terms, and excellent service whileexpanding throughout the South-Central United States. With each newdealership we have an opportunity to provide our excellent serviceto more customers and to earn their repeat business in the future,"added Mr. Henderson. "The Bethel Heights dealership will be managedby Eric Cynova who is very excited to lead our efforts at thisgreat new location." "Our current plans are to open an additionalfour new dealerships between now and the end of the current fiscalyear," said Jeff Williams, Chief Financial Officer. "Our solidfinancial results, strong balance sheet and competitive strengthswill continue to allow us to provide the best possible service toour 56,000+ active accounts and to future customers we will gain aswe grow. We continue to expect to open additional dealerships at anapproximate 10% annual rate beyond fiscal 2013."
About America's Car-MartAmerica's Car-Mart operates 120 automotivedealerships in ten states and is the largest publicly-heldautomotive 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 buildingof strong personal relationships with its customers. The Companyoperates its dealerships primarily in smaller cities throughout theSouth-Central United States selling quality used vehicles andproviding financing for substantially all of its customers. Formore information about America's Car-Mart, including investorpresentations, please visit our website at www.car-mart.com. This press release contains "forward-looking statements" withinthe meaning of the Private Securities Litigation Reform Act of1995. These forward-looking statements address the Company's futureobjectives, plans and goals, as well as the Company's intent,beliefs and current expectations regarding future operatingperformance, and can generally be identified by words such as"may," "will," "should," "could," "believe," "expect,""anticipate," "intend," "plan," "foresee," and other similar wordsor phrases. Specific events addressed by these forward-lookingstatements 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.
- the availability of credit facilities to support the Company'sbusiness;
- the Company's ability to underwrite and collect its loanseffectively;
- availability of quality vehicles at prices that will beaffordable to customers; and
- general economic conditions in the markets in which the Companyoperates, including but not limited to fluctuations in gas prices,grocery prices and employment levels.
CONTACT: William H. ("Hank") Henderson, CEO at (479) 464-9944 or Jeff Williams, CFO at (479) 418-8021