California-based Copart, Inc. reported results for the fourth quarter and fiscal year ended July 31, 2003.
Copart earned net income of $13,336,800 in the fourth quarter of fiscal 2003 on revenues of $87,216,100. This quarter’s net income is 14 percent lower than the $15,535,000 earned in the same period of fiscal 2002 on revenues of $82,632,600. Fully diluted earnings per share (EPS) for the quarter was $.15 compared to $.17 last year, a decrease of 12 percent.
For fiscal 2003, Copart earned net income of $57,222,200, or $.62 per diluted share, on revenues of $347,423,100. Copart reported net income of $57,389,200, or $.63 per diluted share, on revenues of $316,455,800 for fiscal 2002.
Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed dismantlers, rebuilders, repair licensees and used vehicle dealers.
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