10-QPeriod: Q2 FY2013

COPART INC Quarterly Report for Q2 Ended Jan 31, 2013

Filed March 12, 2013For Securities:CPRT

Summary

Copart Inc.'s (CPRT) 10-Q filing for the period ending January 31, 2013, indicates a continued share repurchase program. During the six months ended January 31, 2013, the company repurchased 500,000 shares of its common stock at an average price of $27.77 per share. This purchase was part of a publicly announced program, and as of January 31, 2013, there was still substantial capacity remaining under this program. While the filing provides limited financial details beyond share repurchases, the active buyback signals management's confidence in the company's valuation and its commitment to returning value to shareholders. Investors should monitor future filings for comprehensive financial performance and strategic updates to assess the overall health and growth trajectory of Copart.

Financial Highlights

52 data points
Beta

Revenue

$266.19M

36.4% Gross Margin

Net Income

$39.64M

14.9% Net Margin

EPS (Diluted)

$0.04

Total Assets

$1.25B

Cash & Equivalents

$49.51M

Free Cash Flow

-$60.29M

Financial Statements
Beta
Revenue$266.19M
Cost of Revenue$42.20M
Gross Profit$96.82M
Operating Income$62.77M
Interest Expense$2.59M
Net Income$39.64M
EPS (Basic)$0.04
EPS (Diluted)$0.04
Shares Outstanding (Basic)997.67M
Shares Outstanding (Diluted)1.04B

Key Highlights

  • 1Copart repurchased 500,000 shares of common stock during the six months ended January 31, 2013.
  • 2The average purchase price for these shares was $27.77.
  • 3The share repurchases were conducted under a publicly announced program.
  • 4As of January 31, 2013, a significant number of shares (47,713,218) remained authorized for repurchase under the program.
  • 5The filing indicates no share repurchases occurred in the months of September, October, November, December 2012, and January 2013, suggesting the majority of the 500,000 shares were bought in August 2012.
  • 6The filing primarily focuses on share repurchase information, with limited other financial data provided in this section.

Frequently Asked Questions

The primary activity reported in this 10-Q filing for the period ending January 31, 2013, concerns Copart's share repurchase program and the number of shares bought back during the six-month period.

Copart repurchased 500,000 shares of its common stock during the six months ended January 31, 2013. While this represents a specific number of shares, the remaining authorization of over 47 million shares indicates a substantial ongoing buyback capacity.

An active share repurchase program can signal management's belief that the company's stock is undervalued and can also increase earnings per share by reducing the number of outstanding shares. Investors may view this as a positive sign of the company's financial health and confidence in future performance.

This particular section of the 10-Q filing (Item 2) is focused on 'Unregistered Sales of Equity Securities and Use of Proceeds,' primarily detailing share repurchases. It does not provide a comprehensive overview of the company's financial results such as revenue, net income, or balance sheet items, which would typically be found in other sections of a 10-Q report.