Copart reports revenue increase

Copart reports revenue increase
Article Launched: 10/05/2008

Fairfield-based Copart Inc., the leading online remarketer of vehicles, saw double-digit increases in revenue and net income in its fourth quarter and the fiscal year that ended July 31.

The company reported quarterly revenue of $206.3 million, up $52.3 million, or 34 percent, compared with the same period a year ago. Net income was $40.8 million, up $4.1 million, or 11.1 percent, over the year-ago quarter.

Per-share earnings for the three months were 47 cents, compared with 40 cents last year.

For the 12 months ended July 31, revenue was $784.8 million, a 40 percent year-to-year increase. Net income was $156.9 million, a 15.1 percent gain.