RICHMOND, VA – CarMax, Inc. reported results for the third quarter ended November 30, 2005.Total sales increased 17% to $1.42 billion from $1.22 billion in the third quarter of last year.
Comparable store used unit sales rose 3% for the quarter.
Total used unit sales grew 13% for the quarter.
Net earnings increased 46% to $26.4 million, or 25 cents per share, compared with $18.0 million, or 17 cents per share, earned in the third quarter of last year.
Earnings for the current year's quarter included a benefit of 3 cents per share from CarMax Auto Finance favorable items, while the prior year's third quarter included a similar benefit of 1 cent per share.
For the fourth quarter of fiscal 2006 ending February 28, 2006, CarMax expects comparable store used unit sales performance in the range of -4% to +2%, and earnings per share in the range of 25 cents to 31 cents.