10-K/APeriod: FY2011

COPART INC Annual Report (Amendment), Year Ended Jul 31, 2011

Filed October 28, 2011For Securities:CPRT

Summary

Copart, Inc. (CPRT) filed an amendment to its 2011 10-K report primarily to include XBRL-formatted financial data. This filing pertains to the fiscal year ended July 31, 2011. As a well-known seasoned issuer and a large accelerated filer, Copart's core business remains the online auction of used, salvaged, and wholesale vehicles. The amendment itself does not introduce new business or financial information but rather makes the previously filed financial statements (Statements of Earnings, Balance Sheets, Statements of Shareholders' Equity, and Statements of Cash Flows) available in an electronic, machine-readable format as required by the SEC. Investors reviewing this filing should focus on the underlying financial performance reported in the original 10-K, which this amendment supports. The inclusion of XBRL data aims to enhance transparency and ease of analysis for financial data users. Copart's operations, focused on salvaging and reselling vehicles, position it within the automotive aftermarket and insurance services sectors. The company's continued emphasis on its online auction platform is a key operational driver to monitor.

Financial Highlights

55 data points
Beta

Revenue

$872.25M

85.6% Gross Margin

Net Income

$166.38M

19.1% Net Margin

EPS (Diluted)

$0.14

Total Assets

$1.08B

Cash & Equivalents

$74.01M

Free Cash Flow

$172.76M

Financial Statements
Beta
Revenue$872.25M
Cost of Revenue$125.20M
Gross Profit$747.04M
Operating Expenses$606.96M
Operating Income$265.29M
Interest Expense$4.08M
Net Income$166.38M
EPS (Basic)$0.14
EPS (Diluted)$0.14
Shares Outstanding (Basic)1.21B
Shares Outstanding (Diluted)1.23B

Key Highlights

  • 1Amendment No. 1 to Form 10-K for the fiscal year ended July 31, 2011, filed on October 28, 2011.
  • 2The primary purpose of the amendment is to include XBRL (eXtensible Business Reporting Language) formatted financial data.
  • 3No new business or financial information is introduced; this is a data formatting update.
  • 4Includes financial statements such as Consolidated Statements of Earnings, Balance Sheets, Shareholders' Equity, and Cash Flows in XBRL format.
  • 5Copart, Inc. is classified as a large accelerated filer and a well-known seasoned issuer.
  • 6The company's common stock is registered and traded on the NASDAQ Global Select Market.

Frequently Asked Questions

This amended 10-K filing (Amendment No. 1) is primarily to provide the financial information for the fiscal year ended July 31, 2011, in XBRL format, which was not included in the original timely filing. It ensures compliance with SEC e-filing requirements for interactive data.

No, this amendment does not alter the actual financial results or operational information previously reported in the original 10-K filing. It is purely a technical filing to provide the same data in a machine-readable XBRL format.

XBRL (eXtensible Business Reporting Language) is a global standard for digital business reporting. For investors, it makes financial data more accessible, searchable, and analyzable, allowing for easier comparison across companies and periods, and facilitating automated data processing.

The XBRL data includes the Consolidated Statements of Earnings, Consolidated Balance Sheets, Consolidated Statements of Shareholders' Equity, and Consolidated Statements of Cash Flows for the relevant fiscal periods.