RICHMOND, VA – CarMax Inc. profits rose sharply in the latest quarter as sales accelerated. The Richmond-based company said that for the fiscal fourth quarter ended Feb. 28, net earnings increased 32 percent to $29.7 million, or 28 cents a share. That compares to the prior year's $22.5 million, or 21 cents a share.

Revenue for fourth quarter jumped 25 percent to $1.4 billion from $1.12 billion, matching analysts' average estimate. Same-store sales, or sales generated at stores open at least a year, increased 11 percent, CarMax said.

There has been renewed sales strength at both the company's established and newer stores and in all geographic regions, according to CarMax.

The company operates 59 used-car superstores in 27 markets. CarMax also has seven new-car franchises as part of used-car superstores.