America's Car-Mart Announces Opening of New Dealerships.Business Editors BENTONVILLE, Ark.--(BUSINESS WIRE)--Feb. 4, 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 Wichita Falls, Texas Wichita Falls is a city in Wichita County, Texas, United States. As of the 2000 census, the city had a total population of 104,197. It is the principal city of the Wichita Falls Metropolitan Statistical Area, which encompasses all of Archer, Clay and Wichita counties. and Pine Bluff Pine Bluff, city (1990 pop. 57,140), seat of Jefferson co., S central Ark., on the Arkansas River; inc. 1839. It is a port and trade center for an agricultural area and has industries producing metal, wood, and paper products; machinery; electrical equipment; and , Ark. These new locations mark the eighth and ninth new dealerships opened since the Company's current fiscal year began on May 1st, bringing the total number of Car-Mart dealerships to 64. The dealership in Pine Bluff opened for business this past Friday (Jan. 31), and the dealership in Wichita Falls Wichita Falls, city (1990 pop. 96,259), seat of Wichita co., N Tex., on the Wichita River; inc. 1889. The city's name comes from the Wichitas and from the falls that have since been reduced to an area of rapidly flowing water in the Wichita River. is expected to open by the end of February. "With the addition of these new dealerships, we have now exceeded our growth expectations for the fiscal year," commented T.J. ("Skip") Falgout, Chief Executive Officer of America's Car-Mart, Inc. "The Wichita Falls dealership is our fourth location in North Texas, and we expect to continue to focus heavily on expanding throughout the North Texas area," added Falgout. "The new Pine Bluff dealership is actually our second location in that city, and thus will serve as an added collection center for our mature Pine Bluff store in addition to selling and financing its own vehicles." "Although further expansion within the State of Arkansas is not our main priority, the new Pine Bluff location provides an opportunity to take advantage of our growth in the Pine Bluff area and our strong existing reputation there, as well as aiding our larger store in collections across what is now a fairly large town," stated Hank Henderson, President of America's Car-Mart, Inc. "The Wichita Falls location is more in line with our current expansion plans as North Texas, East Texas and Oklahoma will continue to be our primary focus areas for the remainder of this fiscal year and the next," continued Henderson. "We believe that there are a number of towns in these regions that offer favorable demographics, available commercial property and proximity to regional management, so we expect Wichita Falls to be the first of several to follow within this region." About America's Car-Mart America's Car-Mart with the opening of these two dealerships operates 64 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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