* Q2 EPS $0.56 vs est $0.65
* Q2 rev up 11 pct
* Sees strong collections during spring
Nov 19 Auto retailer America's Car-Mart Inc
(CRMT.O) posted a quarterly profit that missed market estimates
due to higher expenses, but said it is expecting strong
collections during the spring.
"Our new store openings are going very well", said CEO
William Henderson, adding that the company intends to start
four more stores by the end of the fiscal year.
For the August-October quarter, the company reported net
income of $6.2 million, or 56 cents a share, compared with $6.3
million, or 53 cents a share, a year ago.
America's Car-Mart, which helps people with limited credit
histories buy used cars, said sales rose 11 percent to $91.8
million. Total expenses rose 13 percent to $82 million too.
Analysts on average were expecting the company to earn 65
cents a share, before special items, on revenue of $91.2
million, according to Thomson Reuters I/B/E/S.
The company, which operates 101 automotive dealerships,
posted same store revenue growth of 8.1 percent.
CarMax Inc (KMX.N), the largest U.S. retailer of used cars,
and America's Car-Mart are among the few companies that
weathered the recession as consumers postponed new car buys.
Shares of the Bentonville, Arkansas-based company closed at
$28.37 Thursday on Nasdaq. They have lost 6 percent of their
value since touching a year-high of $30.10 last week.
(Reporting by Fareha Khan in Bangalore; Editing by Don