Auto retailer and financer America's Car-Mart Inc posted better-than-expected quarterly results, helped by strong same store sales and an increase in its customer base. For the second quarter, the company reported net income of $6.3 million, or 53 cents a share, compared with $3.9 million, or 33 cents a share, a year ago.
Revenue for the quarter rose 15 percent to $82.6 million.
Analysts on average were expecting the company to earn 42 cents a share, before special items, on revenue of $80.6 million, according to Thomson Reuters I/B/E/S.
Same store sales for the quarter increased 11 percent compared with 5 percent in the prior year period, while customer count grew by over 1,400.
The company, which helps people with limited credit histories buy used cars, said provision for credit losses was 20.1 percent of sales, compared with 22 percent in the year-ago period.
Shares of the company were trading up 4 percent before the bell at $24 Friday. They had closed at $23.14 Thursday on Nasdaq. (Reporting by Fareha Khan in Bangalore; Editing by Aradhana Aravindan)