CarMax (NYSE:KMX) turned on the turbo boost for its first quarter of fiscal 2014. The company released its results for the period last week, revealing net sales of $3.31 billion. This represents a 19% improvement over the $2.77 billion posted in the same period the previous year. Net income also rose, advancing 22% to $146.7 million ($0.64 per diluted share) from the year-ago quarter's $120.7 million ($0.52).
Both the quarter's top and bottom line figures hit records for the company. They also handily beat expectations. Analysts had been projecting revenue of $3.15 billion and EPS of $0.58. CarMax plans to release its Q2 results Sept. 24.
Fool contributor Eric Volkman has no position in CarMax. The Motley Fool recommends CarMax. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.