BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[America's Car-Mart (CRMT) lets customers pay by pig]]>http://www.bloggingstocks.com/2008/07/02/americas-car-mart-crmt-lets-customers-pay-by-pig/http://www.bloggingstocks.com/2008/07/02/americas-car-mart-crmt-lets-customers-pay-by-pig/http://www.bloggingstocks.com/2008/07/02/americas-car-mart-crmt-lets-customers-pay-by-pig/#commentsAmerica's Car-Mart Incorporated (NASDAQ: CRMT) has taken a page from master marketer Sam Walton.

America's Car-Mart will make it possible for just about anyone with weak or limited credit history to purchase a basic, reliable used car. No money for the down payment? No problem. America's Car-Mart will accept anything of value, including furniture, electronics and even livestock, as part of the down payment. This approach seems to be working. At a time when Car-Max (NYSE: KMX) posted a 55% drop in earnings, America's Car-Mart posted 4Q 2008 revenue gain of 29% to $76.5 million. Gross margins are up, past due accounts are down (surprising in a tight rural economy), net income is way up, and the company's debt level is down. Retail sales by unit volume increased 25% despite the fact the company closed three underperforming dealerships in the quarter. The average retail sales price increased 7% and the company has worked hard to improve the quality of the used vehicles in its inventory.

These good numbers are not just a fluke for 4Q 2008. FY 2008 revenues are up 14% to $275 million. Net income totaled $15 million or $1.26 per diluted share. The company has invested in software to track loan delinquencies and has developed its own proprietary credit scoring method to serve its non-traditional client base. Investors are happy with the news. They bid the stock up more than 5% to close at $18.86, closing in on the stock's 52 week high.

America's Car-Mart (CRMT) lets customers pay by pig originally appeared on BloggingStocks on Wed, 02 Jul 2008 13:07:00 EST. Please see our terms for use of feeds.

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