CL King Upgrades Copart (CPRT) to Neutral

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Copart Reports Second Quarter Fiscal 2016 Financial Results

February 23, 2016 6:07 PM EST

DALLAS--(BUSINESS WIRE)-- Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2016.

For the three months ended January 31, 2016, revenue, gross margin and net income were $299.7 million, $124.6 million, and $59.0 million, respectively. These represent an increase in revenue of $23.4 million, or 8.5%; an increase in gross margin of $9.7 million, or 8.5%; and an increase in net income of $6.8 million, or 13.0%, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.48 compared to $0.40 last year, an increase of 20.0%.

For the six months ended January 31, 2016, revenue, gross margin... More