Copart (CPRT) Reports Bang-Up Q3 Beat as Collision Growth Drives Volumes - Jefferies

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Copart Reports Third Quarter Fiscal 2016 Financial Results

May 25, 2016 6:02 PM EDT

DALLAS--(BUSINESS WIRE)-- Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended April 30, 2016.

For the three months ended April 30, 2016, revenue, gross margin, and net income were $347.2 million, $157.6 million, and $74.0 million, respectively. These represent an increase in revenue of $50.1 million, or 16.9%; an increase in gross margin of $30.2 million, or 23.7%; and an increase in net income of $16.5 million, or 28.6%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.64 compared to $0.44 last year, an increase of 45.5%.

For the nine months ended April 30, 2016, revenue, gross margin,... More