SunTrust Upgrades Copart (CPRT) to Neutral

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Copart Reports Third Quarter Fiscal 2015 Financial Results

May 27, 2015 6:29 PM EDT

DALLAS--(BUSINESS WIRE)-- Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and nine months ended April 30, 2015.

For the three months ended April 30, 2015, revenue, gross margin and net income were $297.1 million, $127.4 million and $57.6 million, respectively. These represent a decrease in revenue of $12.6 million, or 4.1%; a decrease in gross margin of $4.8 million, or 3.7%; and an increase in net income of $16.7 million, or 40.8%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.44 compared to $0.31 last year, an increase of 41.9%.

For the nine months ended... More