America's Car Mart (CRMT) Tops Q4 EPS by 7c, Sales Miss Slightly

America's Car Mart (NASDAQ: CRMT) reported Q4 EPS of $0.72, $0.07 better than the analyst estimate of $0.65. Revenue for the quarter came in at $153 million versus the consensus estimate of $154.94 million.

• Net earnings of $5.2 million – $.66 per diluted share ($.72 per diluted share excluding a $500,000 non-cash after-tax charge resulting from costs associated with lot closings) vs. $.40 per diluted share for prior year quarter
• Revenues of $153 million compared to $155 million for the prior year quarter including a $1.6 million increase in interest income and same store revenue increase of 1.3%
• Increased sales volume productivity with 29.1 retail units sold per store per month, up from 28.2 for the prior year quarter
• Average retail sales price increased $13 to $10,654 or .1% from the prior year quarter (increased $25 or .2% sequentially)
• Gross profit margin percentage increased to 41.5% from 38.7% for the prior year quarter
• Collections as a percentage of average finance receivables decreased to 15.6% from 16.8% for the prior year quarter. The weighted average contract term increased to 32.5 months from 31.6.
• Net Charge-offs as a percent of average finance receivables of 8.7%, down from 9.0% for prior year quarter
• Accounts over 30 days past due increased to 3.6% from 3.0% at April 30, 2016
• Average percentage of finance receivables current improved slightly to 81% from 80.5% at April 30, 2016
• Provision for credit losses of 28.4% of sales vs. 27.4% for prior year quarter
• Selling, general and administrative expenses at 17.2% of sales vs. 16.7% for prior year quarter
• Active accounts base approximately 66,800
• Debt to equity of 50.6% and debt to finance receivables of 25.3%
• Allowance for credit losses at 25% of finance receivables, net of deferred revenue at April 30, 2017
• Repurchased 365,364 shares of common stock for $12.3 million at an average cost of $33.70 per share

For earnings history and earnings-related data on America's Car Mart (CRMT) click here.

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