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Copart Inc (CPRT) SEC Filing 10-K Annual report for the fiscal year ending Monday, July 31, 2017

Copart Inc

CIK: 900075 Ticker: CPRT
Exhibit 99.1

Copart, Inc.
For Immediate Release
Copart Reports Fourth Quarter Fiscal 2017 Financial Results
Dallas, Texas. (September 19, 2017) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2017.
For the three months ended July 31, 2017, revenue, gross margin, and net income were $378.6 million, $167.5 million, and $70.3 million, respectively. These represent an increase in revenue of $45.9 million, or 13.8%; an increase in gross margin of $26.0 million, or 18.4%; and a decrease in net income of $13.8 million, or 16.4%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.30 compared to $0.35 last year, a decrease of 14.3%. Results for the three months ended July 31, 2017 include an impairment charge of $19.4 million related primarily to costs previously capitalized in connection with the development of business operating software.
For the year ended July 31, 2017, revenue, gross margin, and net income were $1.4 billion, $632.0 million, and $394.2 million, respectively. These represent an increase in revenue of $179.5 million, or 14.2%; an increase in gross margin of $87.4 million, or 16.1%; and an increase in net income of $123.9 million, or 45.8%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2017 were $1.66 compared to $1.11 last year, an increase of 49.5%.
Excluding the impact of foreign currency-related gains; impairment of long-lived assets; acquisition related fees; certain income tax benefits, foreign income tax credit limitations, and payroll taxes related to accounting for stock option exercises, non-GAAP fully diluted earnings per share for the three months and year ended July 31, 2017, were $0.35 and $1.29, respectively. These represent increases of 16.7% and 22.9%, respectively, from the same periods last year. A reconciliation of non-GAAP financial measures to the most directly comparable financial measures computed in accordance with U.S. generally accepted accounting principles (GAAP) can be found in the tables attached to this press release.
On Wednesday, September 20, 2017, 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://stream.conferenceamerica.com/copart092017. A replay of the call will be available through November 19, 2017 by calling (877) 919-4059. Use confirmation code # 87851080.
About Copart
Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart's innovative technology and online auction platform links sellers to more than 750,000 Members in over 170 countries. Copart offers services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and in some cases, to end users. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers and also sells vehicles sourced from individual owners. With operations at over 200 locations in 11 countries, Copart has more than 125,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), the Republic of Ireland (Copart.ie), Brazil (Copart.com.br), Germany (Copart.de), the United Arab Emirates, Oman and Bahrain (Copartmea.com), India (Copart.in), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/Register.



The following information was filed by Copart Inc (CPRT) on Wednesday, September 20, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Copart Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (details)
Accounts Payable And Accrued Liabilities (tables)
Accounts Receivable, Net
Accounts Receivable, Net (details 1)
Accounts Receivable, Net (details)
Accounts Receivable, Net (tables)
Acquisitions
Acquisitions (details Textuals)
Acquisitions (details)
Acquisitions (tables)
Commitments And Contingencies
Commitments And Contingencies (details Textuals)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies Loss Contingency (details)
Derivatives And Hedging
Derivatives And Hedging (details Textuals)
Employee Benefit Plan
Employee Benefit Plan (details Textuals)
Fair Value Measures Fair Value Measures (details)
Fair Value Measures Fair Value Measures (notes)
Fair Value Measures Fair Value Measures (tables)
Goodwill
Goodwill (details)
Goodwill (tables)
Guarantees - Indemnifications To Officers And Directors
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details 5)
Income Taxes (details Textuals)
Income Taxes (details)
Income Taxes (tables)
Intangibles, Net
Intangibles, Net (details 1)
Intangibles, Net (details Textuals)
Intangibles, Net (details)
Intangibles, Net (tables)
Long-term Debt
Long-term Debt (details Textuals)
Long-term Debt (details)
Long-term Debt (tables)
Net Income Per Share
Net Income Per Share (details Textuals)
Net Income Per Share (details)
Net Income Per Share (tables)
Property And Equipment, Net
Property And Equipment, Net (details Textuals)
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Quarterly Information
Quarterly Information (tables)
Quarterly Information (unaudited) (details)
Related Party Transactions
Related Party Transactions (details Textuals)
Segments And Other Geographic Information
Segments And Other Geographic Information (details 1)
Segments And Other Geographic Information (details Textuals)
Segments And Other Geographic Information (tables)
Stockholder's Equity (details 1)
Stockholder's Equity (details 2)
Stockholder's Equity (details 3)
Stockholder's Equity (details 4)
Stockholder's Equity (details Textuals 1)
Stockholder's Equity (details Textuals 2)
Stockholder's Equity (details Textuals 3)
Stockholder's Equity (details Textuals 4)
Stockholder's Equity (details Textuals)
Stockholder's Equity (tables)
Stockholders' Equity
Stockholders' Equity (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 1)
Summary Of Significant Accounting Policies (details Textuals 1)
Summary Of Significant Accounting Policies (details Textuals 2)
Summary Of Significant Accounting Policies (details Textuals)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: CPRT
CIK: 900075
Form Type: 10-K Annual Report
Accession Number: 0000900075-17-000044
Submitted to the SEC: Wed Sep 27 2017 8:34:54 PM EST
Accepted by the SEC: Thu Sep 28 2017
Period: Monday, July 31, 2017
Industry: Retail Auto Dealers And Gasoline Stations

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