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Americas Carmart (CRMT) has reported 55.87 percent jump in profit for the quarter ended Apr. 30, 2017. The company has earned $5.24 million, or $0.66 a share in the quarter, compared with $3.36 million, or $0.40 a share for the same period last year.
Revenue during the quarter went down marginally by 1.18 percent to $152.92 million from $154.75 million in the previous year period. Gross margin for the quarter expanded 321 basis points over the previous year period to 47.96 percent. Total expenses were 93.85 percent of quarterly revenues, down from 95.93 percent for the same period last year. This has led to an improvement of 209 basis points in operating margin to 6.15 percent.
Operating income for the quarter was $9.41 million, compared with $6.29 million in the previous year period.
"We are pleased with the direction the Company is moving, and we are excited about our future. The competitive environment has been difficult the last few years, but we are seeing some positive indicators. We believe we are well positioned to continue to show improvements as we grow," said William H. "Hank" Henderson, chief executive officer.
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