America's Car-Mart Reports Diluted Earnings per Share of $.16 (Reflects a $4.9 Million, or $.52 per Diluted Share, Non-Cash

America's Car-Mart Reports Diluted Earnings per Share of $.16 (Reflects a $4.9 Million, or $.52 per Diluted Share, Non-Cash After-Tax Charge Resulting From an Increase to the Allowance for Credit Losses) on Revenue Increase of 3.1% to $123 Million  BENTONVILLE, Ark., Feb. 18, 2014 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (Nasdaq:CRMT) today announced its operating results for the third quarter of fiscal 2014.  Highlights of third quarter operating results:    *Net income of $1.5 million - $.16 per diluted share ($.68 per diluted     share excluding a $4.9 million non-cash after-tax charge resulting from an     increase to the allowance for credit losses) vs. $.84 per diluted share     for prior year quarter   *Revenues of $123 million compared to $119 million for the prior year     quarter with same store revenue decrease of 2.8%   *Retail unit sales increase of 3.2% to 10,735 from 10,403 for the prior     year quarter with 27.7 retail units sold per dealership per month down     from 29.4 for prior year quarter   *Average retail sales price decreased $58 to $9,739 or 0.6% from the prior     year quarter and increased $29 or 0.3% sequentially   *Net charge-offs as a percent of average finance receivables of 6.7%, up     from 5.7% for prior year quarter   *Delinquencies over 30 days at 5.8% of finance receivables vs. 6.0% for the     prior year   *Provision for credit losses of 33.9% of sales (26.8% excluding the effect     of the increase in the allowance for credit losses) vs. 23.7% for prior     year quarter   *Selling, General and Administrative Expenses at 18.1% of sales vs. 17.7%     for prior year quarter   *Opened two new dealerships since the end of the 2^nd quarter, our newest     dealership opened in Troy, AL this week - dealership count now at 131   *Active accounts base now over 62,000   *Repurchased 200,000 shares (2.2%) of common stock during the quarter   *Debt to equity of 54.3% and debt to finance receivables of 28.5%   *Allowance for credit losses at 23.5% of finance receivables at January 31,     2014, up from 21.5%  Highlights of nine month operating results:    *Net income of $14.8 million or $1.56 per diluted share ($2.08 per diluted     share excluding a $4.9 million non-cash after-tax charge resulting from an     increase to the allowance for credit losses) vs. $2.43 per diluted share     for prior year period   *Revenue increase of 8.1% to $367 million from $339 million for the prior     year period with same store revenue growth of 1.8%   *Retail unit sales increase of 6.7% to 31,986 from 29,970 for the prior     year period   *Net Charge-offs as a percentage of average finance receivables of 19.8%     compared to 18.1% for the prior year   *Provision for credit losses of 28.2% of sales (25.8% excluding the effect     of the increase in the allowance for credit losses) vs. 23.3% for prior     year period   *Strong cash flows supporting the significant increase in revenues, the     $37.3 million increase in finance receivables, $5.5 million in net capital     expenditures and the $8.7 million in common stock repurchases (212,620     shares, or 2.4%) with only a $14.8 million increase in total debt  "Despite the pressure we are feeling in the current competitive environment, we are continuing to see some good growth. We remain committed to growing our business the right way with the realization that so long as the competition does not share our same focus on customer success, our results could continue to be affected somewhat. There are a lot of good people who are currently signing up on financial arrangements with our competitors for what we believe are impractical terms that are not in their long-term best interest. We will continue to do our very best to set our customers up to succeed so that we will be in a position to earn their repeat business in the future. Anything short of our customers successfully completing the terms of their individual contracts is not acceptable to us and not in line with how we believe this business should operate. Unfortunately, the current environment is contributing to higher levels of charge-offs and we will continue to work hard to reverse these trends," said William H. ("Hank") Henderson, President and Chief Executive Officer of America's Car-Mart.  "We have opened seven new dealerships this year and have four more projects underway that we expect to open between now and the end of our fiscal year. Our new dealerships are performing well and we are excited to be adding great new towns to our footprint. We have added almost 4,400 active accounts and are working hard to make these new customers, and our existing customers, fans for life of America's Car-Mart," added Mr. Henderson.  "Excluding the effect of the increase in the allowance for credit losses, we earned $.68 per diluted share for the quarter. While this is certainly below where we had hoped to be, the decrease can be attributed to the continuing intense competitive environment that we are facing on the funding side coupled with the fact that our customers continue to be under significant pressure due to the persistent negative macro-economic environment. We know we can do better, but the business model is certainly being stress tested by forces outside of our control. We are working hard to continue to grow in a healthy manner so that we are in a good position if conditions change in our favor," said Jeff Williams, Chief Financial Officer of America's Car-Mart. "Because of the stubbornly high net charge-off levels, and our expectation that tough conditions will continue at least over the short-term to mid-term, it was necessary for us to increase our allowance for credit losses to 23.5% from 21.5%. The last time we adjusted our allowance was in April 2012 when we reduced the percentage to 21.5% from 22.0%. Prior to April 2012 the last time an adjustment was made to the allowance was in October 2006 when it was increased to 22% from 19.2%. This non-cash charge will not in any way affect our efforts to help our customers succeed, and our cash on cash returns continue to be very attractive even with higher charge-off levels. We are focused on maximizing efficiencies on the operating expense side of the business and are committed to always being the lowest cost operator."  "Our debt to equity was 54.3% and our debt to finance receivables was 28.5% at the end of the quarter. We are committed to maintaining a conservative balance sheet," added Mr. Williams. "We repurchased 200,000 shares of our common stock during the quarter or about 2.2% of the outstanding shares. Since February 1, 2010 we have repurchased 3.1 million shares or 27% of the company. We will continue to stay focused on cash on cash returns and aggressive expense management. We believe in the long-term value of our company and will continue to invest in the repurchase program when we believe favorable conditions exist. Our first priority for capital allocation will continue to be to support the healthy growth of the business."  Conference Call  Management will be holding a conference call on Wednesday, February 19, 2014 at 11:00 a.m. Eastern Time to discuss third quarter results. A live audio of the conference call will be accessible to the public by calling (877) 776-4031. International callers dial (631) 291-4132. Callers should dial in approximately 10 minutes before the call begins. A conference call replay will be available one hour following the call for thirty days and can be accessed by calling (855) 859-2056 (domestic) or (404) 537-3406 (international), conference call ID # 59350030.  About America's Car-Mart  America's Car-Mart, Inc. (the "Company") operates 131 automotive dealerships in ten states and is one of the largest publicly held automotive retailers in the United States focused exclusively on the "Integrated Auto Sales and Finance" segment of the used car market.The Company emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in small cities throughout the South-Central United States selling quality used vehicles and providing financing for substantially all of its customers.For more information, including investor presentations, on America's Car-Mart, please visit our website at www.car-mart.com.  This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.These forward-looking statements address the Company's future objectives, plans and goals, as well as the Company's intent, beliefs and current expectations regarding future operating performance, and can generally be identified by words such as "may," "will," "should," "could, "believe," "expect," "anticipate," "intend," "plan," "foresee," and other similar words or phrases.Specific events addressed by these forward-looking statements include, but are not limited to:    *new dealership openings;   *performance of new dealerships;   *same store revenue growth;   *future overall revenue growth;   *the Company's collection results, including but not limited to collections     during income tax refund periods;   *repurchases of the Company's common stock; and   *the Company's business and growth strategies.  These forward-looking statements are based on the Company's current estimates and assumptions and involve various risks and uncertainties.As a result, you are cautioned that these forward-looking statements are not guarantees of future performance, and that actual results could differ materially from those projected in these forward-looking statements.Factors that may cause actual results to differ materially from the Company's projections include, but are not limited to:    *the availability of credit facilities to support the Company's business;   *the Company's ability to underwrite and collect its accounts effectively,     including but not limited to collections during income tax refund periods;   *competition;   *dependence on existing management;   *availability of quality vehicles at prices that will be affordable to     customers;   *changes in financing laws or regulations; and   *general economic conditions in the markets in which the Company operates,     including but not limited to fluctuations in gas prices, grocery prices     and employment levels.  Additionally, risks and uncertainties that may affect future results include those described from time to time in the Company's SEC filings. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  America's Car-Mart, Inc. Consolidated Results of Operations (Operating Statement Dollars in Thousands)                                                 % Change As a % of Sales                             Three Months Ended    2014     Three Months Ended                             January 31,           vs.      January 31,                             2014       2013       2013     2014      2013 Operating Data:                                                    Retail units sold            10,735    10,403    3.2%              Average number of stores in  129       118       9.3               operation Average retail units sold    27.7      29.4      (5.8)             per store per month Average retail sales price   $9,739   $9,797   (0.6)             Same store revenue growth    (2.8)%     8.8%                         Net charge-offs as a percent ofaverage Finance           6.7%       5.7%                         Receivables Collections as a percent of  13.3%      13.4%                        average Finance Receivables Average percentage of Finance Receivables-Current  79.3%      80.5%                        (excl. 1-2 day) Average down-payment         4.0%       3.9%                         percentage                                                                   Period End Data:                                                   Stores open                  130       120       8.3%              Accounts over 30 days past   5.8%       6.0%                         due Finance Receivables, gross   $400,651 $363,918 10.1%                                                                               Operating Statement:                                               Revenues:                                                          Sales                        $108,400 $106,215 2.1%    100.0%   100.0% Interest income              14,188    12,707    11.7    13.1     12.0 Total                        122,588   118,922   3.1     113.1    112.0                                                                   Costs and expenses:                                                Cost of sales                62,092    60,941    1.9     57.3     57.4 Selling, general and         19,650    18,775    4.7     18.1     17.7 administrative Provision for credit losses  36,776    25,189    46.0    33.9     23.7 Interest expense             779       795       (2.0)   0.7      0.7 Depreciation and             835       712       17.3    0.8      0.7 amortization Loss on Disposal of Property 37        --       --     --      -- and Equipment Total                        120,169   106,412   12.9    110.9    100.2                                                                   Income before taxes          2,419     12,510            2.2      11.8                                                                   Provision for income taxes   949       4,530             0.9      4.3                                                                   Net income                   $1,470   $7,980           1.4      7.5                                                                   Dividends on subsidiary      $(10)    $(10)                      preferred stock                                                                   Net income attributable to   $1,460   $7,970                     common shareholders                                                                   Earnings per share:                                                Basic                        $0.16    $0.88                      Diluted                      $0.16    $0.84                                                                                                                                                          Weighted average number of                                         shares outstanding: Basic                        8,917,826 9,017,613                   Diluted                      9,370,635 9,451,473                                                                                      America's Car-Mart, Inc. Consolidated Results of Operations (Operating Statement Dollars in Thousands)                                                  % Change As a % of Sales                              Nine Months Ended     2014     Nine Months Ended                              January 31,          vs.      January 31,                              2014       2013       2013     2014     2013 Operating Data:                                                    Retail units sold             31,986    29,970    6.7%             Average number of stores in   127       116       9.5              operation Average retail units sold per 28.0      28.7      (2.4)            store per month Average retail sales price    $9,762   $9,635   1.3              Same store revenue growth     1.8%       2.8%                        Net charge-offs as a percent of average Finance            19.8%      18.1%                       Receivables Collections as a percent of   40.5%      42.8%                       average Finance Receivables Average percentage of Finance Receivables-Current (excl.    80.5%      81.5%                       1-2 day) Average down-payment          5.6%       5.8%                        percentage                                                                   Period End Data:                                                   Stores open                   130       120       8.3%             Accounts over 30 days past    5.8%       6.0%                        due Finance Receivables, gross    $400,651 $363,918 10.1%                                                                              Operating Statement:                                               Revenues:                                                          Sales                         $325,314 $302,706 7.5%    100.0%  100.0% Interest income               41,249    36,435    13.2    12.7    12.0 Total                         366,563   339,141   8.1     112.7   112.0                                                                   Costs and expenses:                                                Cost of sales                 187,537   173,330   8.2     57.6    57.3 Selling, general and          59,045    53,982    9.4     18.2    17.8 administrative Provision for credit losses   91,602    70,499    29.9    28.2    23.3 Interest expense              2,291     2,156     6.3     0.7     0.7 Depreciation and amortization 2,407     2,070     16.3    0.7     0.7 Loss on Disposal of Property  76        --       --     --     -- and Equipment Total                         342,958   302,037   13.5    105.4   99.8                                                                   Income before taxes           23,605    37,104            7.3     12.3                                                                   Provision for income taxes    8,789     13,728            2.7     4.5                                                                   Net income                    $14,816  $23,376          4.6     7.7                                                                   Dividends on subsidiary       $(30)    $(30)                     preferred stock                                                                   Net income attributable to    $14,786  $23,346                   common shareholders                                                                   Earnings per share:                                                Basic                         $1.65    $2.55                     Diluted                       $1.56    $2.43                                                                                                                                                         Weighted average number of                                         shares outstanding: Basic                         8,984,958 9,142,296                  Diluted                       9,449,380 9,593,854                                                                                      America's Car-Mart, Inc. Consolidated Balance Sheet and Other Data (Dollars in Thousands)                                                       January 31, April 30,                                                       2014         2013                                                                    Cash and cash equivalents                              $256       $272 Finance receivables, net                               $309,709   $288,049 Inventory                                              $34,242    $32,827 Total assets                                           $382,831   $358,265 Total debt                                             $114,339   $99,563 Treasury stock                                         $103,286   $94,547 Stockholders' equity                                   $210,453   $202,268 Shares outstanding                                     8,845,320   9,023,290                                                                                                                                                                                                          Finance receivables:                                                Principal balance                                      $400,651   $363,394 Deferred revenue - payment protection plan             (13,664)    (12,910) Allowance for credit losses                            (90,942)    (75,345)                                                                    Finance receivables, net of allowance and deferred     $296,045   $275,139 revenue                                                                                                                                       Allowance as % of principal balance                    23.50%       21.50%                                                                                                                                                                                                          Changes in allowance for credit losses:                                                                                   Nine Months                                                       Ended January 31,                                                       2014         2013 Balance at beginning of period                         $75,345    $65,831 Provision for credit losses                            91,602      70,499 Charge-offs, net of collateral recovered               (76,005)    (60,764) Balance at end of period                               $90,942    $75,566  CONTACT: William H. ("Hank") Henderson, CEO at (479) 464-9944 or          Jeffrey A. Williams, CFO at (479) 418-8021  America's Car-Mart Inc. Logo