Car-Mart 3Q Profit Up 6 Percent

America’s Car-Mart Inc. of Bentonville on Tuesday reported a 6 percent increase in third-quarter profit.

The company, which sells used cars under a “buy-here, pay-here” model, said it earned $3.6 million, or 31 cents per share, in its most recent quarter, up from $3.4 million, or 28 cents per share, during the same time last year.

“The continuation of our strong results in the face of difficult economic times, and unprecedented negative media coverage and sentiment regarding our country’s economic health, is a reaffirmation of our conservative ‘buy-here, pay-here’ business model and the numerous significant improvements we have made to our operations and infrastructure over the last two years,” T.J. Falgout, the company’s CEO, said in a news release.

Quarterly revenue rose 3.3 percent to $73.5 million, while same-store sales increased 2.9 percent during the quarter.

via ArkansasBusiness.com

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