America's Car-Mart Announces Opening of New Dealerships.Business Editors/Automotive Writers BENTONVILLE, Ark.--(BUSINESS WIRE)--May 28, 2003 America's Car-Mart, Inc. (Nasdaq NMS See NetWare Management System. :CRMT CRMT Computer Resources Management Team ) today announced the opening of two new dealerships located in Longview, Texas Longview is a city in Texas, United States, located between Dallas, TX and Shreveport, LA. The population was 73,345 at the 2000 census, but a 2005 estimate placed the city's population at 75,609. and Tyler, Texas Tyler is the county seat of Smith County in East Texas, United States. The city is named for President John Tyler in recognition of his support for Texas's admission to the United States. . These new locations mark the first new dealership openings since the Company's current fiscal year began on May 1, 2003. The dealership in Longview opened for business on May 6, and the dealership in Tyler is expected to open by the end of June. "With the addition of these new dealerships, we have a good start on our new store growth expectations for this fiscal year," commented T.J. ("Skip") Falgout, Chief Executive Officer of America's Car-Mart, Inc. "These dealerships represent our fifth and sixth locations in Texas, and we expect to continue focusing heavily on expansion throughout the North and East Texas areas, as well as Oklahoma," added Falgout. "The Longview and Tyler locations are consistent with our current expansion plans, with North Texas, East Texas and Oklahoma as our primary focus areas for this fiscal year," stated Hank Henderson, President of America's Car-Mart. "We are excited about our growth prospects in Texas, as the region offers demographics that fit our customer profile. With the population bases we have in these markets, we expect our new Texas dealerships to grow and mature into significant contributors to Car-Mart's overall success and profitability." About America's Car-Mart America's Car-Mart operates 65 automotive dealerships in seven states and is the largest publicly held automotive retailer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. focused exclusively on the "Buy Here/Pay Here" segment of the used car market. 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. Included herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements with respect to opening new dealerships. There are many factors that affect management's view about expansion plans. These factors involve risks and uncertainties that could cause actual results to differ materially from management's present view. All forward-looking statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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