10-K/APeriod: FY2013

COPART INC Annual Report (Amendment), Year Ended Jul 31, 2013

Filed October 2, 2013For Securities:CPRT

Summary

Copart, Inc.'s (CPRT) fiscal year ended July 31, 2013, as detailed in their amended Form 10-K, indicates a company operating as a large accelerated filer. The company's core business involves the online auction of used, wholesale, salvage, and insurance damaged vehicles. This filing is an amendment to correct a minor omission in the original filing, specifically regarding the electronic signature for the Consent of Independent Registered Public Accounting Firm. For investors, Copart's business model, focused on remarketing vehicles for insurance companies, auto dealers, and rental car agencies, is a key aspect. The company leverages its proprietary internet auction technology to facilitate these sales. While this specific filing amendment does not provide updated financial performance figures, it confirms the company's robust reporting status and its adherence to SEC regulations, which is crucial for maintaining investor confidence.

Financial Highlights

53 data points
Beta

Revenue

$1.05B

84.0% Gross Margin

Net Income

$180.03M

17.2% Net Margin

EPS (Diluted)

$0.17

Total Assets

$1.33B

Cash & Equivalents

$63.63M

Free Cash Flow

$69.06M

Financial Statements
Beta
Revenue$1.05B
Cost of Revenue$167.24M
Gross Profit$879.15M
Operating Income$282.99M
Interest Expense$10.27M
Net Income$180.03M
EPS (Basic)$0.18
EPS (Diluted)$0.17
Shares Outstanding (Basic)999.30M
Shares Outstanding (Diluted)1.04B

Key Highlights

  • 1Copart, Inc. is a large accelerated filer, indicating a substantial market capitalization and a history of regular SEC filings.
  • 2The fiscal year under review concluded on July 31, 2013.
  • 3The primary business of Copart is the online auction of used, wholesale, salvage, and insurance damaged vehicles.
  • 4The company utilizes proprietary internet auction technology to conduct its operations.
  • 5This filing (Form 10-K/A) is an amendment to the original 10-K to include a missing electronic signature on the Consent of Independent Registered Public Accounting Firm exhibit.
  • 6The amendment does not alter the substantive financial disclosures or operational information presented in the original Form 10-K.
  • 7Copart's common stock is listed on The NASDAQ Global Select Market.

Frequently Asked Questions

Copart, Inc. is primarily engaged in the online auction of used, wholesale, salvage, and insurance damaged vehicles. They provide a platform for sellers such as insurance companies, auto dealers, and rental car agencies to remarket their vehicles.

This amended filing (Amendment No. 1) is a technical correction. It was filed to include an electronic signature for the Consent of Independent Registered Public Accounting Firm in Exhibit 23.1, which was mistakenly omitted from the original Form 10-K filing.

No, this amendment is purely administrative and relates to an exhibit filing error. It does not modify or update any of the financial performance disclosures or other substantive information provided in the original Form 10-K for the fiscal year ended July 31, 2013.

Copart's common stock is traded on The NASDAQ Global Select Market under the ticker symbol CPRT.