CarMax, Inc. (NYSE:KMX) has released its third quarter earnings for the quarter ended November 30, 2009. The report showed net sales and operation revenues of $1.73 billion, a 19% increase from the $1.46 billion earned during the third quarter of the previous year. The financial results and a webcast of the company’s conference call is available on the company’s investor website at http://investor.carmax.com.
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The company will release its fourth quarter earnings for 2010 on Thursday, April 1, 2010. A conference call will follow at 9:00 am ET that morning. Further information will be released during the month of March in 2010.
CarMax, Inc. is a holding company and its operations are conducted through its subsidiaries. The Company is a retailer of used cars, which retailed 345,465 used vehicles during the fiscal year ended February 28, 2009 (fiscal 2009). As of February 28, 2009, it operated 100 used car superstores in 46 metropolitan markets. In addition, it sold 194,081 wholesale vehicles, during fiscal 2009, through on-site auctions. The Company purchases, reconditions and sells used vehicles. Approximately 85% of the used vehicles it retails are 1 to 6 years old with fewer than 60,000 miles. It also offers a selection of used vehicles at each superstore that are more than 6 years old or have more than 60,000 miles, if they meet similar quality standards.
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