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UPDATE 2-America's Car-Mart Q4 tops Street, shares up

Tue Jun 23, 2009 11:20pm IST
 
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* Q4 EPS $0.43 vs est $0.38

* Q4 rev up 2 pct

* Shares up 13 pct

(Adds conference call details, share movement)

June 23 (Reuters) - Auto retailer and financer America's Car-Mart Inc (CRMT.O: Quote, Profile, Research) posted better-than-expected quarterly profit, helped by increased average retail sales price and a downturn-resistant business model, sending shares up 13 percent.

The company, which helps people with limited credit histories buy used cars, said the demand for used vehicles purchased by it remained high.

"We were able to maintain quality and mix and keep prices down even though wholesale used vehicle price trends show significant month over month increases for the last several months," Chief Financial Officer Jeffrey Williams said on a call.

Fourth-quarter net income was $5.1 million, or 43 cents a share, compared with $6.0 million, or 51 cents a share, a year ago.

Net sales for the quarter rose about 2 percent to $77.9 million. The average retail sales price rose to $9,189 from $8,989.  Continued...

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