America's Car-Mart Inc (NASDAQ:CRMT) Q4 2019 Earnings Conference Call Transcript
May 22, 2019 • 11:00 am ET
Good morning, everyone. Thank you for holding, and welcome to America's Car-Mart's Fourth Quarter 2019 Conference Call. The topic of this call will be the earnings and operating results for the Company's fourth quarter for fiscal 2019. Before we begin, I would like to remind everyone that this call is being recorded and will be available for replay for the next 30 days. The dial-in number and access information are included on last night's press release, which can be found on America's Car-Mart's website at www.car-mart.com.
As you all know, some of management's comments today may include forward-looking statements, which inherently involve risks and uncertainties that could cause actual results to differ materially from management's present view. These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cannot guarantee the accuracy of any forecast or estimate nor does it undertake any obligation to update such forward-looking statements. For much information regarding forward-looking information, please see Part 1 of the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2018. And its current and quarterly reports furnished to or filed with the Securities Exchange Commission on Form 8-K and 10-Q.
Participating on the call this morning are Jeff Williams, the Company's President and Chief Executive Officer; and the Vickie Judy, Chief Financial Officer. And now I'd like to turn the call over to the Company's Chief Executive Officer, Jeff Williams.
Jeffrey A. Williams
Thank you for joining us and thank you for your interest in America's Car-Mart. We had a good solid quarter with a 4.4% increase in revenue and a 2.9% increase in same-store sales up against the strong fourth quarter last year. We're proud of the progress we're making. Our focus on the basics and more recently on customer experience is showing up in our results. All the finance companies competing in our industry had good math and we have good math too. We also look beyond the numbers and have a higher purpose in our work. We have the ability and the deep desire to see our customers and associates succeed in growth. We had a very unique and important role in the communities we serve and our values of integrity, respect, compassion and excellence drive the approach to our daily work, which is showing up in our significantly lower credit losses.
We know our purpose and have recently changed our initial statement to clarify our Why. Our vision is to be America's best auto sales and finance company in the eyes of our associates and customers while improving the communities we serve. Again, we're proud of our results and we believe we're just getting started.
I'm going to turn it over to Vickie to go over some numbers. Vickie?
Vickie D. Judy
Good morning, everyone. For the quarter, overall revenues were $177 million with same-store revenues up 2.9%. This resulted from a 3.7% increase in sales and a 10.1% increase in interest income. Revenues from stores in the over