America's Car-Mart Posts Loss In Q2; Revenues Up 2.8%

(RTTNews) - America's Car-Mart, Inc. (CRMT) posted a second quarter net loss of $27.5 million compared to profit of $3.1 million, last year. Loss per share was $4.30 compared to profit of $0.48. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.78, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenues increased 2.8% to $361.6 million. Analysts on average had estimated $363.76 million in revenue. The company said 2.8% increase in revenue resulted from a 23% increase in interest income and a 5.6% increase in average retail sales price. Sales were 15,162 units compared to 15,885 units, down 4.6% from the prior year quarter.

Shares of America's Car-Mart are down 31% in pre-market trade on Tuesday.

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