America's Car-Mart Announces Opening of 108th Dealership
August 09 2011 - 12:48PM
America’s Car-Mart, Inc. (NASDAQ: CRMT) today announced the opening
of its newest dealership. The dealership is located in Albertville,
Alabama.
"Car-Mart has tremendous growth opportunities especially
in states like Alabama. Albertville is our 9th location in Alabama,
a state that has potential much like our home state of Arkansas,
where we have 37 dealerships. We look forward to opening many more
dealerships in Alabama in the future. We are dedicated to
offering the best value for people looking for good, basic
affordable transportation and the financing to go with it. Our
newest dealerships are performing well and we continue to be
excited about our future," said William H. ("Hank") Henderson,
President and Chief Executive Officer of America’s Car-Mart. "The
Albertville dealership will be managed by Brad Martin who is very
excited to lead our efforts at this great new Car-Mart
location."
"We now operate 108 dealerships in eight states. We anticipate
opening new lots at an approximate 10% annual rate into the
future," 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 over 51,000 active customers and to future customers we will
gain as we grow."
About America's Car-Mart
America’s Car-Mart operates 108 automotive dealerships in eight
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
www.car-mart.com.
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 openings;
- performance of new dealerships;
- same store revenue growth;
- 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:
- the availability of credit facilities to support the Company’s
business;
- the Company’s ability to underwrite and collect its loans
effectively;
- competition;
- availability of quality vehicles at prices that will be
affordable to customers; and
- general 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 made.
CONTACT: William H. ("Hank") Henderson, CEO at (479) 464-9944, or Jeff Williams, CFO at (479) 418-8021, or T.J. ("Skip") Falgout III, Chairman at (972) 717-3423
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