10-QPeriod: Q1 FY2006

COPART INC Quarterly Report for Q1 Ended Oct 31, 2005

Filed December 12, 2005For Securities:CPRT

Summary

Copart, Inc. reported its quarterly results for the period ended October 31, 2005. The company is an "accelerated filer," indicating a history of timely SEC filings. This report focuses on the financial performance and operational updates for the third quarter of fiscal year 2005, providing investors with insights into the company's revenue, profitability, and strategic initiatives. Investors should pay close attention to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section, which details key performance drivers, potential risks, and the company's liquidity and capital resources. The filing also includes information on legal proceedings and risk factors, which are crucial for a comprehensive understanding of the business environment and potential challenges.

Key Highlights

  • 1Copart, Inc. is filing its quarterly report for the period ended October 31, 2005.
  • 2The company is classified as an 'accelerated filer,' signifying consistent SEC reporting.
  • 3The report includes consolidated financial statements (Balance Sheets, Income Statements, Cash Flows) and accompanying notes.
  • 4Management's Discussion and Analysis (MD&A) provides insights into operational performance, financial condition, liquidity, and capital resources.
  • 5Key sections cover "Acquisitions and New Operations," "Critical Accounting Policies and Estimates," and "Results of Operations."
  • 6The filing also addresses "Market Risk," "Controls and Procedures," "Legal Proceedings," and "Risk Factors."
  • 7As of December 9, 2005, Copart had 90,485,068 shares of Common Stock outstanding.

Frequently Asked Questions

While the filing doesn't explicitly detail the primary business in the provided excerpt, the context of "Acquisitions and New Operations" and the nature of financial reporting suggest Copart, Inc. is likely involved in a business with physical operations and potential growth through acquisitions. Further review of the full 10-Q would clarify their specific industry, such as vehicle auctions or related services.

This quarterly report (10-Q) includes the Consolidated Balance Sheets, Consolidated Statements of Income, and Consolidated Statements of Cash Flows for the period ended October 31, 2005, along with the Notes to the Consolidated Financial Statements.

Being an 'accelerated filer' means that Copart, Inc. meets certain size and filing history requirements set by the SEC. This classification typically indicates a more established company that has been filing reports for at least 12 months and has a public float of $75 million or more. It signifies a level of financial maturity and consistent compliance with SEC reporting obligations.

Information regarding the company's future outlook and potential challenges can be found primarily in Item 2, 'Management’s Discussion and Analysis of Financial Condition and Results of Operations,' specifically within the sections 'Factors That May Affect Future Results,' and Item 1A, 'Risk Factors'.