Americas Carmart (CRMT) has reported 30.86 percent plunge in profit for the quarter ended Jan. 31, 2017. The company has earned $2.84 million, or $0.35 a share in the quarter, compared with $4.10 million, or $0.47 a share for the same period last year.     

Revenue during the quarter went up marginally by 0.96 percent to $138.78 million from $137.46 million in the previous year period. Gross margin for the quarter expanded 113 basis points over the previous year period to 48.24 percent. Total expenses were 95.98 percent of quarterly revenues, up from 94.64 percent for the same period last year. That has resulted in a contraction of 134 basis points in operating margin to 4.02 percent.

Operating income for the quarter was $5.58 million, compared with $7.37 million in the previous year period.

"Even though we did see a small top line increase with same store revenue increasing 1.1%, we were a little disappointed with our top line for the quarter. Our expectations were higher going into the quarter and some of the shortfall was most likely related to delays with income tax refunds this year. At the same time, we are certainly seeing some overall softness in the market after so many years of excess lending with significantly extended contract terms. Our customer base has been stuffed with offerings for several years now and we are feeling the negative effects of market conditions," said William H. "Hank" Henderson, chief executive officer of America's Car-Mart, Inc. the "Company".