Fairfield-based Copart Inc., which provides services to insurers and others selling salvaged vehicles, saw double-digit increases in revenue and net income in its fourth quarter and fiscal year ended July 31.
The company reported quarterly revenue of $206.3 million, up $52.3 million, or 34 percent, compared with the same period a year ago. Net income was $40.8 million, up $4.1 million, or 11.1 percent, over the year-ago quarter.
Per-share earnings for the three months were 47 cents, compared with 40 cents last year.
For the 12 months ended July 31, revenue was $784.8 million, a 40 percent year-to-year increase, and net income was $156.9 million, a 15.1 percent gain. Per-share earnings for the 12 months were $1.75, compared with $1.46 last year.
The company, founded in 1982, reported strong revenue growth in North America and the United Kingdom.
More details can be viewed at www.copart.com.
– Mark Glover
