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Copart Inc (CPRT) SEC Filing 10-K Annual report for the fiscal year ending Friday, July 31, 2015

Copart Inc

CIK: 900075 Ticker: CPRT


Copart, Inc.
For Immediate Release
Copart Reports Fourth Quarter Fiscal 2015 Financial Results
Dallas, Texas. (September 22, 2015) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2015.
For the three months ended July 31, 2015, revenue, gross margin and net income were $282.3 million, $118.8 million and $57.4 million, respectively. These represent a decrease in revenue of $5.2 million, or 1.8%; an increase in gross margin of $1.8 million, or 1.6%; and an increase in net income of $6.4 million, or 12.5%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.44 compared to $0.39 last year, an increase of 12.8%.
For the year ended July 31, 2015, revenue, gross margin and net income were $1.1 billion, $483.4 million and $219.8 million, respectively. These represent a decrease in revenue of $17.4 million, or 1.5%; an increase in gross margin of $14.8 million, or 3.2%; and an increase in net income of $41.1 million, or 23.0%, respectively, from the same period last year. Fully diluted earnings per share for the twelve months were $1.67 compared to $1.36 last year, an increase of 22.8%.
Included in the operating results for the three months ended July 31, 2015 and 2014 was the impact of the beneficial resolution of uncertain tax positions, which increased diluted earnings per share each period by $0.03.
Included in the operating results of the prior year was an impairment charge of $29.1 million recorded in the third quarter resulting primarily from the abandonment of work previously capitalized in connection with the development of a third-party enterprise operating system.
On Wednesday, September 23, 2015, 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/copart092315. A replay of the call will be available through November 22, 2015 by calling (877) 919-4059. Use confirmation code # 13231770.
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 locations, 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, Oman and Bahrain (www.copartmea.com), India (www.copart.in), and Spain (www.autoresiduos.com). Copart links sellers to more than 750,000 members in over 150 countries worldwide through its multi-channel platform. Copart was recently ranked at the top of Deloitte’s “Exceptional 100” list of companies, which reviewed U.S. publicly traded companies based upon a multidimensional approach to measuring financial performance. For more information, or to become a member, visit www.copart.com.


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Copart, Inc. ~ 14185 Dallas Parkway, Suite 300, Dallas TX 75254 ~ (972) 391-5000


The following information was filed by Copart Inc (CPRT) on Tuesday, September 22, 2015 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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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)
Derivatives And Hedging
Derivatives And Hedging (details Textuals)
Employee Benefit Plan
Employee Benefit Plan (details Textuals)
Goodwill
Goodwill (details Textuals)
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)
Restructuring
Restructuring (detail Textuals)
Restructuring (details 1)
Restructuring (details)
Restructuring (tables)
Segments And Other Geographic Information
Segments And Other Geographic Information (details 1)
Segments And Other Geographic Information (details Textuals)
Segments And Other Geographic Information (details)
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: 0001628280-15-007286
Submitted to the SEC: Fri Sep 25 2015 5:28:10 PM EST
Accepted by the SEC: Fri Sep 25 2015
Period: Friday, July 31, 2015
Industry: Retail Auto Dealers And Gasoline Stations

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