Key Developments For America's Car-Mart Inc
America's Car-Mart Inc (CRMT.O) (Nasdaq)
America's Car-Mart, Inc. Increases and Extends Credit Agreements
America's Car-Mart, Inc. announced that it has amended its Revolving Credit Agreements with a group of lenders. The amendments include an increase in total permitted borrowings of up to $61.5 million, up from $60 million and an extension of the due date to April 30, 2010. Additionally, existing tiered pricing levels will remain in effect but will be subject to a 4.25% floor. At October 31, 2008, the end of the Company's second fiscal quarter, there was $21.5 million in additional availability under the Revolving Credit Agreements.
America's Car-Mart, Inc. Announces Opening Of New Dealership In Decatur, Alabama
America's Car-Mart, Inc. announced the opening of its newest location in Decatur, Alabama. The total number of dealerships is now 92.
America's Car-Mart, Inc. Announces Retirement Of T.J. Falgout As CEO
America's Car-Mart, Inc. announced that T.J. Falgout will retire as Chief Executive Officer (CEO) effective at the Company's annual shareholders' meeting on October 16, 2007. Mr. Falgout, a major shareholder, will remain as Chairman of the Board of Directors. Effective October 16, 2007, upon Mr. Falgout's retirement as CEO, Mr. Henderson has been elected and named CEO. Mr. Henderson will also retain the title of President, the position he has held with the Company since 2002.
America's Car-Mart, Inc. Issues Q2 2007 Earnings Guidance
America's Car-Mart, Inc. announced that for second quarter of 2007, it expects a loss in the range of $0.16 to $0.20 per diluted share. The expected loss includes a $3.3 million after-tax charge ($0.28 per share) due to a non- cash increase in the allowance for credit losses related to its finance receivables.
America's Car-Mart, Inc. Announces Opening of New Dealership in Ponca City, Oklahoma
America's Car-Mart, Inc. announced the opening of its newest location in Ponca City, Oklahoma. This new location marks the fifth dealership opening since the Company's current fiscal year began on May 1, 2006. The total number of dealerships is now 90.
