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Copart, Inc. releases second quarter fiscal 2018 financial results

Copart, Inc. a global leader in online vehicle auctions recently reported financial results for the quarter ended January 31, 2018.

For the three months ended January 31, 2018, revenue, gross margin, and net income were $459.1 million (£324.2 million), $191.6 million (£134.9 million), and $103.3 million (£72.7 million), respectively. These represent an increase in revenue of $109.6 million (£77 million), or 31.3%; an increase in gross margin of $44.8 million (£31 million), or 30.6%; and an increase in net income of $37.2 million (£26.1 million), or 56.3%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.43 (£0.30) compared to $0.28 (£0.20) last year, an increase of 53.6%.

For the six months ended January 31, 2018, revenue, gross margin, and net income were $878.3 million (£620.5 million), $354.9 million (£250.2 million), and $180.8 million (£127.2 million), respectively. These represent an increase in revenue of $182.8 million (£128.6 million), or 26.3%; an increase in gross margin of $62.8 million (£43.8 million), or 21.5%; and a decrease in net income of $52.6 million (£36.7 million), or 22.5%, respectively, from the same period last year. Fully diluted earnings per share for the six months were $0.75 (£0.53) compared to $0.99 (£0.70) last year, a decrease of 24.2%.

To read the full story click here www.copart.com

Note: Currency conversions as of 22nd March 2018 at 11:22 UTC using XE Currency Converter (http://www.xe.com/currencyconverter/)

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