Carmax Inc (KMX) 10-K Annual Report April 2012

Net sales and operating revenues increased 10% to $2.48 billion from $2.25 billion in the fourth quarter of last year. For the fiscal year, net sales and operating revenues increased 11% to $10.00 billion from $8.98 billion in fiscal 2011.

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Comparable store used unit sales increased 4% in the fourth quarter and 1% in the fiscal year.

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Total used unit sales rose 6% in the fourth quarter and 3% in the fiscal year.

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Total wholesale unit sales increased 13% in the fourth quarter and 20% in the fiscal year.

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CarMax Auto Finance (CAF) income rose 22% to $66.1 million in the fourth quarter. For the fiscal year, CAF income rose 19% to $262.2 million.

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Fourth quarter net earnings increased 7% to $95.0 million, or $0.41 per diluted share, compared with $88.8 million, or $0.39 per diluted share, in the prior year quarter.

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Fiscal 2012 net earnings increased 10% to $413.8 million, or $1.79 per diluted share, compared with $377.5 million, or $1.65 per diluted share, in fiscal 2011.

“We are pleased to report strong fourth quarter and full year results,” said Tom Folliard, president and chief executive officer. “We hit some major milestones this year, including total revenues of $10 billion and annual used retail vehicle sales in excess of 400,000 units, and we look forward to continued growth as we expand our store base in the coming years.”

Fourth Quarter Business Performance Review

Sales. Comparable store used unit sales grew 4% compared with a 12% increase in last year’s fourth quarter. Used unit sales benefited from strong subprime-financed sales, as well as an extra day in the current year quarter due to leap year.

For the fiscal year, our data indicates that we increased our share of the late-model (0-to 6-year old) used vehicle market by approximately 3%. We remain confident that the strength of our consumer offer and the skill of our associates, combined with our resumption of store growth, will continue to drive future share gains.

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The following information was filed by Carmax Inc (KMX) on Thursday, April 5, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Carmax Inc provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Carmax, Inc. Subsidiaries

Exhibit 23.1: Consent Of Kpmg Llp

Exhibit 24.1: Powers Of Attorney

Exhibit 31.1: Section 302 Ceo Certification

Exhibit 31.2: Section 302 Cfo Certification

Exhibit 32.1: Section 906 Ceo Certification

Exhibit 32.2: Section 906 Cfo Certification

Ticker: KMX
CIK: 1170010
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-182512
Submitted to the SEC: Wed Apr 25 2012 5:31:18 PM EST
Accepted by the SEC: Wed Apr 25 2012
Period: Wednesday, February 29, 2012
Industry: Retail Auto Dealers And Gasoline Stations