UPDATE 1-America's Car-Mart posts Q3 net loss, sees Q4 profit

(Recasts, adds details, analyst's comment, share movement)

BANGALORE, March 7 (Reuters) - Automotive retailer America's Car-Mart Inc. (CRMT.O) posted a third-quarter net loss, but forecast a profitable current quarter.

"We are going back to the basics and focusing all our day-to-day efforts on attracting the best customers and providing them the best service," said Hank Henderson, president of America's Car-Mart.

"By doing the right things to earn the repeat business of our customers, we are confident solid financial results will follow," Henderson added in a statement.

America's Car-Mart shares rose more than 12 percent to $12.00 in noon trade on the Nasdaq.

Analysts also expect the company to return to the black in the coming quarters.

Four analysts on average expect America's Car-Mart to post earnings per share of 16 cents, before special items, according to Reuters Estimates.

"Typically they are profitable and it's unusual for them to post a loss," said William Armstrong, an analyst with CL King & Associates, by phone.

The company's poor showing will not be repeated in coming quarters, he added.

Armstrong attributed the poor quarter to high credit losses. "They chose not to sell to more people as they didn't think they were credit-worthy," he said.

The company had posted a loss of $50,000 in the third quarter even as it tightened its underwriting restrictions on new dealerships and those that experienced higher-than-expected credit losses.

Analysts were expecting a profit of 13 cents a share for the quarter. (Reporting by Sreerupa Mitra, Aniruddha Basu in Bangalore)