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Last updated on Friday, February 17, 2012, 1:24 pm
Car-Mart
Car-Mart Shares Climb on Strong 3Q Earnings
Shares of America's Car-Mart Inc. rose sharply Thursday after the company posted a 40.4 percent increase in third-quarter profit. The Bentonville-based used-car retailer released earnings late Wednesday, reporting net profit of $7.3 million, or 73 cents per share, for the quarter that ended Jan. 31, compared to earnings of $5.69 million, or 52 cents per share, in the same period a year ago. On Thursday, Car-Mart’s shares rose $5.28 cents, or 13.16 percent, closing at $45.41 on the Nasdaq. The stock's previous high for the past year was $41.23, with a low of $22.77. The company's earnings beat the average estimate of 69 cents per share from four analysts surveyed by Thomson Reuters. Revenue rose 13.8 percent to $105.37 million from $92.57 million. Car-Mart saw retail unit sales increase... [ MORE ]-
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