10-QPeriod: Q1 FY2005

COPART INC Quarterly Report for Q1 Ended Oct 31, 2004

Filed December 9, 2004For Securities:CPRT

Summary

Copart, Inc. reported its financial results for the quarterly period ended October 31, 2004. The company is in a strong position, having filed all required reports and operating as an accelerated filer. This filing provides investors with detailed financial statements, management's discussion and analysis of operations and financial condition, and disclosures on market risk and internal controls. Key areas of focus include the company's operational performance, liquidity, and capital resources. Investors should pay close attention to the "Acquisitions and New Openings" section within the Management's Discussion and Analysis, as this could indicate expansion strategies and future growth drivers. The "Critical Accounting Policies and Estimates" section is also crucial for understanding the underlying assumptions and judgments that impact the reported financial figures.

Key Highlights

  • 1Copart, Inc. is an accelerated filer and has met its filing obligations for the preceding 12 months, indicating a level of financial reporting maturity.
  • 2The report covers the quarterly period ended October 31, 2004, providing investors with recent operational and financial performance data.
  • 3The filing includes comprehensive financial statements: Consolidated Balance Sheets, Statements of Income, and Statements of Cash Flows.
  • 4Management's Discussion and Analysis (MD&A) offers insights into the company's operations, including an overview, details on acquisitions and new openings, critical accounting policies, results of operations, liquidity, capital resources, and potential risk factors.
  • 5Quantitative and Qualitative Disclosures About Market Risk are provided, allowing investors to understand the company's exposure to market fluctuations.
  • 6An Evaluation of Disclosure Controls and Procedures is presented, along with information on any changes in internal controls, demonstrating a focus on robust governance.
  • 7The number of outstanding shares of Common Stock as of December 6, 2004, was 90,106,587, providing a key metric for per-share analysis.

Frequently Asked Questions

While the filing doesn't explicitly detail the primary business in the provided excerpt, the context of financial statements, operations, and market risk suggests Copart, Inc. is a public company engaged in a business that requires significant financial reporting and is subject to market dynamics. Further details would be found within the full MD&A section.

This report includes the Consolidated Balance Sheets, Consolidated Statements of Income, and Consolidated Statements of Cash Flows for the quarterly period ended October 31, 2004.

Information regarding Copart's growth strategies and expansion plans, such as acquisitions and new openings, can be found within the 'Acquisitions and New Openings' section of the Management's Discussion and Analysis (MD&A) of Financial Condition and Results of Operations.

Being an accelerated filer means that Copart meets certain size and filing history requirements set by the SEC. Accelerated filers are generally required to file their annual and quarterly reports more promptly than non-accelerated filers, indicating a larger and more established company.