NEW YORK, Dec. 1 /PRNewswire/ -- Sting's new, critically-acclaimed album, If On A Winter's Night... debuted at #1 on Billboard's Classical Crossover Chart and #6 on Billboard's Top 200 Chart, following its anticipated October 27 release. To commemorate both the Deustsche Grammophon CD, which continues to dominate the charts, and the newly released companion DVD, Sting will be performing two exclusive concerts at the famed Cathedral Church of St. John the Divine in New York City on December 8 and 9. Both shows sold-out in minutes and mark the only planned U.S. dates.
On Thursday, December 10, Sting will also be signing his CD/DVD at Best Buy (Broadway & 62nd) in New York City at 5PM. Throughout December, he will also be appearing on such high-profile TV programs including CBS Sunday Morning, Larry King Live, Live with Regis & Kelly, ABC News Nightline and World News Tonight with Charlie Gibson as well as MSNBC's Morning Joe. His Great Performances Public Television special, "Sting: A Winter's Night..." will also have repeated airings on PBS stations, nationwide, throughout the month of December, following the commercial DVD release of the concert on November 23.
Critical praise continues for If On A Winter's Night... "Evocative mood music perfect for chilling out by the fireplace, especially during the holidays," says People Magazine. CNN states, "the album is a folksy toast to winter, Sting's favorite time of year, and the imagination and reflection the season inspires." The UK's Daily Mail lauds the album as "refreshingly authentic," while The Irish Times celebrates it as "one of the most memorable and adventurous albums you'll hear this year."
SOURCE Decca Label Group
FAIRFIELD, Calif.--(BUSINESS WIRE)-- Copart, Inc. (NASDAQ: CPRT) today reported the results for its first quarter ended October 31, 2009.
For the three months ended October 31, 2009, revenue, operating income and net income were $185.5 million, $56.5 million and $35.3 million, respectively. These represent decreases in revenue of $6.1 million, or 3.2%; in operating income of $3.0 million, or 5.0%; and in net income of $2.0 million, or 5.3%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months ended October 31, 2009 were $0.42 compared to $0.44 last year, a decrease of 4.5%.
On Wednesday, December 2, 2009, 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://webcast.premiereglobal.com/view/wl/r.htm?e=178703&s=1&k=7469D34A97C68BE02AC8F0B2127614A6. A replay of the call will be available through January 2, 2010 by calling (888) 203-1112. Use confirmation code #4290239.
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 patented VB2 technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships, the general public and others. The company currently operates 147 facilities in the United States, Canada and the United Kingdom. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. 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.
Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)
Three months ended
October 31,
2009 2008
Service revenues and vehicle sales:
Service revenues $ 153,765 $ 156,325
Vehicle sales 31,696 35,244
Total service revenues and vehicle sales 185,461 191,569
Operating costs and expenses:
Yard operations 69,925 73,718
Yard depreciation and amortization 8,522 8,336
Cost of vehicle sales 24,429 29,945
Gross margin 82,585 79,570
General and administrative 23,920 17,543
General and administrative depreciation and amortization 2,173 2,542
Total operating expenses 128,969 132,084
Operating income 56,492 59,485
Other income (expense):
Interest income (expense), net (71 ) 581
Other income 631 1,254
Total other income 560 1,835
Income before income taxes 57,052 61,320
Income taxes 21,782 24,066
Net income $ 35,270 $ 37,254
Earnings per share-basic
Basic net income per share $ 0.42 $ 0.45
Weighted average common shares outstanding 84,045 83,283
Earnings per share-diluted
Diluted net income per share $ 0.42 $ 0.44
Weighted average common shares and dilutive potential 84,948 85,320
common shares outstanding
Consolidated Balance Sheets
(in thousands)
(Unaudited)
October 31, July 31,
2009 2009
ASSETS
Current assets:
Cash and cash equivalents $ 218,279 $ 162,691
Accounts receivable, net 109,715 109,248
Inventories and vehicle pooling costs 32,249 33,352
Income taxes receivable -- 5,426
Prepaid expenses and other assets 6,237 5,216
Total current assets 366,480 315,933
Property and equipment, net 546,088 530,886
Intangibles, net 14,212 15,212
Goodwill 166,575 166,327
Deferred income taxes 9,757 7,759
Land purchase options and other assets 20,228 21,915
Total assets $ 1,123,340 $ 1,058,032
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities $ 93,636 $ 82,773
Deferred revenue 12,299 13,165
Income taxes payable 18,154 5,269
Deferred income taxes 1,843 1,948
Other current liabilities 440 429
Total current liabilities 126,372 103,584
Deferred income taxes 11,099 10,997
Income taxes payable 21,330 20,266
Other liabilities 1,603 1,726
Total liabilities 160,404 136,573
Commitments and contingencies
Shareholders' equity:
Common stock, no par value - 180,000 shares
authorized; 84,146 and 83,939 shares issued and 342,257 334,440
outstanding at October 31, 2009 and July 31, 2009,
respectively
Accumulated other comprehensive loss (25,542) (27,082)
Retained earnings 646,221 614,101
Total shareholders' equity 962,936 921,459
Total liabilities and shareholders' equity $ 1,123,340 $ 1,058,032
Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Three Months Ended
October 31,
2009 2008
Cash flows from operating activities:
Net income $ 35,270 $ 37,254
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 10,614 10,709
Allowance for doubtful accounts 176 (56 )
Deferred rent (125 ) (73 )
Share-based compensation 4,285 1,500
Excess tax benefits from stock-based compensation (2,429 ) (54 )
(Gain)loss on sale of property and equipment (18 ) 527
Deferred income taxes (2,053 ) 1,721
Changes in operating assets and liabilities, net of
effects from acquisitions:
Accounts receivable (580 ) (8,828 )
Vehicle pooling costs 861 (2,521 )
Inventory 271 225
Prepaid expenses and other current assets (1,013 ) (1,020 )
Land purchase options and other assets 251 (276 )
Accounts payable and accrued liabilities 10,825 (8,308 )
Deferred revenue (868 ) 921
Income taxes receivable 5,590 11,831
Income taxes payable 16,634 8,812
Net cash provided by operating activities 77,691 52,364
Cash flows from investing activities:
Purchases of property and equipment (23,512 ) (29,200 )
Proceeds from sale of property and equipment 605 165
Net cash used in investing activities (22,907 ) (29,035 )
Cash flows from financing activities:
Proceeds from the exercise of stock options 1,026 620
Excess tax benefit from share-based payment 2,429 54
arrangements
Repurchase of common stock (3,532 ) --
Change in book overdraft -- (9,923 )
Net cash used in financing activities (77 ) (9,249 )
Effect of foreign currency translation 881 (2,264 )
Net increase in cash and cash equivalents 55,588 11,816
Cash and cash equivalents at beginning of period 162,691 38,954
Cash and cash equivalents at end of period $ 218,279 $ 50,770
Supplemental disclosure of cash flow information:
Interest paid $ 149 $ 31
Income taxes paid $ 1,607 $ 2,016
Source: Copart, Inc.
BONITA SPRINGS, Fla.--(BUSINESS WIRE)-- WCI Communities said today it has sold its Pompano Beach, Florida, Oceanside property to Ari Pearl, a Hollywood Florida developer along with his partner, The Chetrit Group, for $38.5 million. The property includes a 17-story luxury condominium with approximately 24,000 square feet of retail space, plus an adjacent parcel of land on the Atlantic Ocean. The tower sale included 138 of the total 186 residential units. Cushman & Wakefield's condominium specialist team, led by Brad Capas, executed the successful marketing campaign. "The sale of this asset is consistent with our long term business plans and integral to our short term focus to streamline operations and continue to reduce leverage," stated David L. Fry, WCI's President and Chief Executive Officer.
WCI has been creating amenity-rich, master-planned lifestyle communities since 1946. Florida-based WCI caters to primary, retirement and second-home buyers in Florida, New York, New Jersey and Connecticut. WCI offers traditional and tower home choices with prices from the low-$100,000s to more than $3 million. In addition to homebuilding and development, WCI generates revenues from its Prudential Florida Real Estate Services, mortgage and title services, and its recreational amenities, as well as through land sales and joint ventures.
Source: WCI Communities, Inc.
CHICAGO, Dec. 1, 2009 (GLOBE NEWSWIRE) -- Echo Global Logistics, Inc. (Nasdaq: ECHO), a leading provider of technology enabled transportation and supply chain management services, today announced that David Menzel, Chief Financial Officer, will present at the 2009 Morgan Stanley Transportation Corporate Access Day on Wednesday, December 2 from 8 a.m. to 1:00 p.m., Central Time. The conference will take place at a Morgan Stanley office located at 522 5th Ave. New York, NY (44th St. and 5th Ave). Presentation materials will be available on the Investors section of the Company's website at www.echo.com.
About Echo Global Logistics
Chicago-based Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. Echo's web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients' shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
The Echo Global Logistics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5293
CONTACT: Echo Global Logistics, Inc.
Kara Smith
312-676-5795
ksmith@echo.com
PHOENIX, Dec. 1 /PRNewswire/ -- OnTrac, the regional leader in regional overnight package delivery, announced today the availability of a certified OnTrac module in Clippership, version 14.4.
(Logo: http://www.newscom.com/cgi-bin/prnh/ 20080512/LAM030LOGO)
The latest version of Clippership includes OnTrac as a module option. OnTrac offers a lower cost alternative for overnight delivery in California, Arizona, Nevada, Oregon, Washington and Utah. In addition, customers can extend their fulfillment time with later pull times offered by OnTrac. Without residential and remote delivery fees, OnTrac helps reduce shipping costs in addition to often saving a day in transit.
This is the second Kewill multi-carrier software application that OnTrac has been added to. OnTrac can be added in Kewill's Flagship software, version 3.9.
"Companies who have Multi-Carrier Shipping Systems save time, by adding an OnTrac module to existing Clippership systems our customers gain expanded fulfillment hours and cut shipping costs," said Danielle Couch, software support manager, OnTrac. "OnTrac is committed to providing industry-leading shipping services and advanced technology for our customers with multi-carrier systems. Kewill has a proven track record of developing software modules that will help us deliver innovative solutions to our mutual customers."
The new module is available immediately. For pricing information, please contact your software provider or go to Kewill.com.
About OnTrac:
OnTrac is the leader in regional overnight package delivery service within California, Arizona, Nevada, Oregon and Washington. Founded in 1991 as a division of Express Messenger Systems, Inc., OnTrac has the expertise to provide superior service and value in the overnight delivery market. Our vision is to be recognized as the leader in regional overnight delivery, consistently exceeding the expectations of customers, employees and shareholders. For more information, please visit our website at ontrac.com.
For additional information, contact: Laura Peterson 602-284-1247 lpeterson@ontrac.com
SOURCE OnTrac
More Press Releases
View Older Stories-
U-Store-It Reveals Top Five Reasons to Use Self-Storage During the Holidays
-
Jacobs Chairman Noel Watson and CFO John Prosser to Speak at Bank of America Merrill Lynch Conference
-
Modius Announces New, Low-Cost Essentials Offerings at Gartner Data Center Conference
-
Novarra Study Confirms Mobile Web Traffic to Retailers Surges 1209 Percent on Black Friday and 110 Percent on Cyber Monday
-
Nexstar Energy Releases Third Quarter Results and Provides Notice of Conversion of Class B Shares to Class A Shares
-
Labor, Progressive Leaders to Call For Bold Plan to Create Jobs on Eve of White House Jobs Summit
-
FutureFuel Corp. Declares Dividend
-
RAIT Financial Trust Commences Exchange Offer for Its 6.875% Convertible Senior Notes Due 2027
-
Kool Smiles Comes to Killeen
-
FDA Approves ZEGERID OTC(TM) for Over-the-Counter Treatment of Frequent Heartburn
-
InnSuites Hospitality Trust (IHT) Reports Third Fiscal Quarter Earnings
-
Judge Denies News America's Post-Trial Motions in Wayne County Case
-
Shanda Online Announces Appointment of New Chief Technology Officer
-
Coalworks and Synthesis Energy Systems Announce Strategic Alliance to Develop Oaklands 'Synthetic Gasoline' Plant
-
Media Advisory: Public Health Agency of Canada
-
NBC's Failure to Negotiate With Employees Puts 'Christmas In Rockefeller Center' at Serious Risk
-
Center Financial Raises $12.8 Million Through Private Placement
-
My Gym Children's Fitness Center Launches The Activators
-
Fitch Revises Ratings on Four Classes of Lehman Mortgage Trust 2007-5
-
Notice of Redemption of Units in the National Bank Canadian Opportunities Fund
-
Notice of Redemption of Units in the National Bank Canadian Opportunities Fund
-
Royal Caribbean International Celebrates Naming of Oasis of the Seas
-
Continental Tire To Be Title Sponsor and Official Tire of 2010 GRAND-AM Sports Car Challenge
-
drugstore.com, inc. Has Best Day Ever on Cyber Monday
-
American Water's Laura Monica Honored with PR News PR People of the Year Awards
-
Fitch Affirms Sand Creek Metro District, Colorado's LTGOs at 'BBB'; Outlook Positive
-
Leon County Court Dismisses Allied Veterans' Lawsuit and Motion for Temporary Injunction
-
UMB Bank Acquires American National Bank Corporate Trust Business
-
Media Advisory: Minister Van Loan to Participate in an Announcement
-
BNA Announces New Customization Options for State Health Care Regulatory Developments(TM) E-Mail Service
-
Media Advisory: Minister Van Loan to Participate in an Announcement
-
Key Energy Services to Present at the Capital One Southcoast 2009 Energy Conference
-
CCAGW Urges Support for McCain's Amendment
-
Santarus Announces FDA Approval of Schering-Plough HealthCare Products' ZEGERID OTC
-
New Drug Application Submitted to FDA for Tapentadol Extended Release Tablets for Management of Chronic Pain
-
Pride International, Inc. Provides Fleet Contract Status Update
-
New Media Gateway Announces Launch of Distribion, Inc.
-
Provident Royalties Litigation - Zwerling, Schachter & Zwerling, LLP Appointed Interim Co-Lead Plaintiffs' Counsel in Provident Royalties-Related Litigation Pending in the United States Distr
-
Overnight Prints Releases Its Greeting Card Mailing Service in Time for the Holidays
-
TranS1 Inc. to Present at the Piper Jaffray Health Care Conference
-
BNA Announces New Customization Options for Federal and State EHS E-Mail Services
-
Dacha Capital Announces New Addition to the Board Files Quarterly Financials
-
Dacha Capital Announces New Addition to the Board Files Quarterly Financials
-
RCN Holiday Tradition Continues With the Live December 7 Broadcast of the 24th Annual Dream Come True Telethon
-
ProLogis Declares Dividends on Preferred Shares
-
Mintz Levin Attorneys Robert P. Taylor and Bryan J. Sinclair to Present on "Standards Setting Organizations & Patent Pooling" at 21st Annual Silicon Valley Association of General Counsel
-
GeoEye Executive Management to Present Dec. 2 at J.P. Morgan SMid Cap Investor Conference in New York
-
Dividend Declaration: Delaware Enhanced Global Dividend And Income Fund Announces Dividends
-
Buy.com(R) Reports Cyber Monday Was Best Day in Company History
-
SemGroup(R) Emerges From Chapter 11 Restructuring
