Good morning, everyone. Thank you for holding, and welcome to the America's Car-Mart Third Quarter 2019 Conference Call. The topic of this call will be the earnings and operating results for the Company's third quarter for fiscal 2019. Before we begin, I would like to remind everyone that this call is being recorded, and will be available for replay for the next 30 days. The dial-in number and access information are included in last night's press release, which can be found on America's Car-Mart's Web site at www.car-mart.com. As you all know, some of management's comments today may include forward-looking statements which inherently involve risks and uncertainties that could cause actual results to differ materially from management's present view. These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cannot guarantee the accuracy of any forecast or estimate nor does it undertake any obligation to update such forward-looking statements. For more information regarding forward-looking information, please see Part 1 of the Company's annual report on Form 10-K for the fiscal year ended April 30, 2018, and its current and quarterly reports furnished to, or filed with, the Securities and Exchange Commission on Forms 8-K and 10-Q. Participating on the call this morning are Jeff Williams, the Company's President and Chief Executive Officer; and Vickie Judy, Chief Financial Officer. And now, I'd like to turn the call over to the Company's Chief Executive Officer, Jeff Williams.

Okay. Thank you for joining us and thank you for your interest in America's Car-Mart. We had a good quarter with solid improvement in the key areas of our business. We're happy to see our hard work and our focus on operational non-negotiables translate into solid bottom line results. Sales volume productivity was up, net charge-offs was down, and collections improved, and we finished the quarter with a much lower 30-plus pass-through percentage. Even though the results are good, we know that we have a lot of room to continue to improve, and we're working hard to get better and serve our customers through our associates at the very highest levels. We are restless about continuous improvement. We believe we have an obligation to push for healthy growth as we believe communities are better when Car-Mart is there. I'm going to go ahead and turn it over to Vickie to go over some numbers. Vicki?

Good morning. For the quarter, overall revenues were $161 million, with same-store revenues up 8.5%. This resulted from a 9% increase in sales and an 11.6% increase in interest income. Revenues from stores in the over 10 years of age category was up 8%. Stores in the five to 10-year category was up 8%, to about $36 million. Revenues for stores in the less than five years of age category was up about 30% to about $20 million. We've continued to see increased traffic at our dealership, and we believe our focus on quality inventory has helped drive this. Our average selling price increased to $11,146, a 4.5% increase or $484 compared to the prior year quarter. We also saw an increase of $116 sequentially. This increase results primarily from the increase in overall vehicle purchase costs because of the high demand for vehicles in the used car market, which in turn results in higher selling prices. We do expect purchase cost to continue to remain elevated through tax time and off-work quarter. However, we will continue to stay focused on keeping the transaction affordable for our customer, and to provide the best vehicle for the money. At quarter-end 23, or 16%, of our dealerships were from zero to five years old, 36 or 25% were from five to 10 years old, and the remaining 84 were 10 years old or older. Our overall productivity increased to 27.9 units per lot, from 27.2 compared to the prior year third quarter, a 2.6% increase. Our 10-year lots -- 10-year-plus lots produced 30.3 units sold per month per lot, compared to 29.1 for the prior year quarter. Our lots in the five to 10-year category produced 25.6 compared to 24.7 for the prior year quarter, and the lots less than five years…

Okay, thank you, Vickie. Our non-negotiables relate to, number one, facilities and associates. Number two, inventory, number three, collections practices, and number four, expense management. With our fifth non-negotiable, customer relations and customer experience being a part of but separate from the other four. Our improved financial performance to this point has been mostly the result of our disciplined focus on lot-level blocking and tackling the non-negotiables one through four, where we still have a lot of work to do but are making solid progress. We understand that to be a great company our purpose has to be clear. And in this high-touch business the customer experience through our associates must be great always. The service we provide is so very important to the good hardworking customers we serve, and we can have such an effect on the quality of their lives, we have a duty to be over-the-top good with all customer interactions. Again, we believe we have room to improve on the first four non-negotiables. However, customer experience is emerging as our top priority as we strive to be a great company. As mentioned in the press release, we have four new dealership openings in process, and we're excited to get started in these communities. Our plan is to grow at a healthy rate, in line with our ability to support our associates and customers at the very highest levels. We will continue to invest in our people, especially our general managers, and we're pleased to see our investments being leveraged so quickly. The market we serve is large, and we have a great opportunity to serve more communities in the future. As always, we would like to thank our associates for their hard work and dedication to this effort, and thank you again for your interest in Car-Mart. We will now open it up for some questions. Operator?

At this time, the participants will now answer questions from the callers. I would like to reiterate that my regular comments regarding forward-looking statements apply both to the participants' prepared remarks and to anything that may come up during Q&A. [Operator Instructions] And our first question comes from John Murphy with Bank of America Merrill Lynch. Your line is open.

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Thank you. Our next question comes from Vincent Caintic with Stephens. Your line is open.

Thank you. Our next question comes from Kyle Joseph with Jefferies. Your line is open.

Thank you. [Operator Instructions] And I am showing no further questions at this time. I would like to turn the call back over to Mr. Jeff Williams for any closing remarks.

Okay. Well, once again thank you for joining us this morning. Thanks for your interest in America's Car-Mart. And have a great day. Thank you.

Ladies and gentlemen, thank you for participating in today's conference. This does conclude today's program. You may all disconnect. Everyone have a great day.