01—Abstract
Summary
Summary of the 10-K/A filed December 30, 2009. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment to Copart Inc.'s (CPRT) 2009 10-K, specifically addressing corrections to Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
The amendment clarifies the number of shares beneficially owned by director Thomas W. Smith and the total shares owned by all directors and officers as a group.
It does not amend or update any other information from the original filing, which was filed on September 29, 2009. Investors should note that this is a technical amendment and does not provide new operational or financial performance data, but rather refines ownership disclosures for key personnel and entities as of October 5, 2009.
02—Key points
Key Highlights
- Amendment corrects beneficial ownership figures for director Thomas W. Smith.
- Total beneficial ownership for directors and officers as a group has been revised.
- Baron Capital Group, Inc. is identified as a significant beneficial owner with 5.4% of common stock.
- CEO Willis J. Johnson is the largest individual beneficial owner, holding 11.4% of common stock.
- The filing provides detailed breakdowns of beneficial ownership for various officers and directors, including shares held directly, through trusts, and via options.
- Ownership figures are based on data as of October 5, 2009, and shares outstanding as of July 31, 2009.
- This filing is solely an amendment to ownership disclosures and does not reflect subsequent events or performance.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2009, Copart Inc kept $0.19.
- Revenue$743.1M100.0%
- Cost of revenue−$106.0M14.3%
- Gross profit$637.1M85.7%
- Operating costs−$411.7M55.4%
- Operating income$225.3M30.3%
- Interest, other & tax−$84.2M11.3%
- Net income$141.1M19.0%
Where FY2009 revenue went
$743.1M- Operating costs: $411.7M, 55% of revenue
- Net income: $141.1M, 19% of revenue
- Cost of revenue: $106.0M, 14% of revenue
- Interest, other & tax: $84.2M, 11% of revenue
Kept 19% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2009filed December 30, 2009Financial Statements
| Revenue | $743.08M |
| Cost of Revenue | $106.03M |
| Gross Profit | $637.05M |
| Operating Expenses | $517.76M |
| Operating Income | $225.32M |
| Interest Expense | $274K |
| Net Income | $141.10M |
| EPS (Basic) | $0.11 |
| EPS (Diluted) | $0.10 |
| Shares Outstanding (Basic) | 1.34B |
| Shares Outstanding (Diluted) | 1.36B |
05—Questions
Frequently Asked Questions
What is the primary purpose of this Form 10-K/A filing?
This filing is an amendment to Copart Inc.'s 2009 10-K. Its sole purpose is to correct specific details within Item 12 concerning the beneficial ownership of common stock by certain shareholders, including director Thomas W. Smith and the aggregate ownership of directors and officers.
Does this amendment provide any new financial or operational information about Copart?
No, this amendment exclusively addresses ownership disclosures. It does not update or revise any financial statements, operational data, or management discussion and analysis from the original 10-K filing.
Who are the major beneficial owners of Copart's common stock as detailed in this filing?
As of the filing date, Baron Capital Group, Inc. is listed as a significant beneficial owner with 5.4% of the outstanding common stock. CEO Willis J. Johnson is the largest individual beneficial owner, holding 11.4%.
What is the ownership percentage for the executive officers and directors as a group?
According to this amendment, all executive officers and directors as a group beneficially own 18.7% of the company's outstanding common stock.
06—Continue