Copart reports first quarter fiscal 2015 financial results
Dallas--(business wire)--copart, inc. (nasdaq: cprt) today reported financial results for the quarter ended october 31, 2014. for the three months ended october 31, 2014, revenue, gross margin and net income were $290.4 million, $122.3 million and $52.6 million, respectively. these represent increases in revenue of $10.5 million, or 3.8%; in gross margin of $14.5 million, or 13.4%; and in net income of $11.2 million, or 27.0%, respectively, from the same quarter last year. fully diluted earnings per share for the three months were $0.40 compared to $0.32 last year, an increase of 25.0%. on tuesday, november 25, 2014, at 11 a.m. eastern time, copart will conduct a conference call to discuss the results for the quarter. the call will be webcast live at http://live.conferenceamerica.com:5840/live. a replay of the call will be available through january 24, 2015 by calling (877) 919-4059. use confirmation code # 60599057. about copart copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. copart remarkets the vehicles through internet sales utilizing its vb3 technology. copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others, as well as cars sourced from the general public. the company currently operates in the united states and canada (www.copart.com), the united kingdom (www.copart.co.uk), brazil (www.copart.com.br), germany (www.copart.de), the united arab emirates (www.copart.ae) and spain (www.autoresiduos.com). copart links sellers to more than 750,000 members in over 140 countries worldwide through our online multi-channel platform. for more information or to become a member, visit www.copart.com. cautionary note about forward-looking statements this press release contains forward-looking statements within the meaning of federal securities laws, and these forward-looking statements are subject to substantial risks and uncertainties. these forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. for a more complete discussion of the risks that could affect our business, please review the “management's discussion and analysis” and the other risks identified in copart’s latest annual report on form 10-k, quarterly reports on form 10-q, and current reports on form 8-k, as filed with the securities and exchange commission. we encourage investors to review these disclosures carefully. we do not undertake to update any forward-looking statement that may be made from time to time on our behalf. copart, inc. consolidated statements of income (in thousands, except per share data) (unaudited) copart, inc. consolidated balance sheets (in thousands) (unaudited) 2014 2014 copart, inc. consolidated statements of cash flows (in thousands) (unaudited)
