10-QPeriod: Q2 FY2012

COPART INC Quarterly Report for Q2 Ended Jan 31, 2012

Filed March 9, 2012For Securities:CPRT

Summary

Copart Inc. (CPRT) filed its quarterly report on March 9, 2012, detailing its activities for the period ending January 31, 2012. A significant portion of the filing focuses on the company's share repurchase program. Copart actively bought back its common stock throughout the second half of fiscal year 2011 and into early 2012, demonstrating a commitment to returning value to shareholders and potentially signaling management's confidence in the company's intrinsic value. Investors should note the specific amounts and average prices paid for shares repurchased. The company repurchased a total of 3,040,354 shares for an average price of $44.36 during the six months ended January 31, 2012. The program had a remaining authorization for a substantial number of shares, indicating potential for continued buybacks. Furthermore, the filing explicitly states no defaults upon senior securities, a positive indicator of financial stability.

Financial Highlights

53 data points
Beta

Revenue

$227.90M

85.3% Gross Margin

Net Income

$40.60M

17.8% Net Margin

EPS (Diluted)

$0.04

Total Assets

$1.14B

Cash & Equivalents

$127.64M

Free Cash Flow

$18.56M

Financial Statements
Beta
Revenue$227.90M
Cost of Revenue$33.60M
Gross Profit$194.30M
Operating Income$63.54M
Interest Expense$3.03M
Net Income$40.60M
EPS (Basic)$0.04
EPS (Diluted)$0.04
Shares Outstanding (Basic)1.03B
Shares Outstanding (Diluted)1.05B

Key Highlights

  • 1Copart repurchased a total of 3,040,354 shares of its common stock during the six months ended January 31, 2012.
  • 2The average price paid per share for these repurchases was $44.36.
  • 3The share repurchase program was publicly announced, with 3,040,354 shares purchased as part of this program.
  • 4As of January 31, 2012, there were 25,506,609 shares that may yet be purchased under the program.
  • 5The company experienced significant repurchases in October 2011 ($41.10 average price) and December 2011 ($46.08 average price), indicating active buying.
  • 6There were no defaults upon senior securities during the reporting period.
  • 7No specific disclosures were made regarding mine safety or other miscellaneous information beyond the share repurchase details.

Frequently Asked Questions

The company repurchased 3,040,354 shares at an average price of $44.36 per share. The total aggregate purchase price would be approximately $134,908,689.04 (3,040,354 shares * $44.36/share), though the filing only provides the total number of shares and average price, not the total dollar amount spent.

As of January 31, 2012, there were 25,506,609 shares that may yet be purchased under the program.

No, the filing explicitly states 'None' for 'Defaults Upon Senior Securities,' suggesting a stable financial position regarding its senior debt.

The filing focuses on the company's purchases of its own equity securities and does not report any unregistered sales of equity securities by the company.