Copart, Inc. announced the launch of its newest version of Copart Mobile, a mobile application where buyers have the opportunity to attend Copart's patented live auctions and bid from anywhere, anytime from any iOS device. Released on January 29, 2013, Copart re-launched its iPhone app and added one of the industry's first iPad-specific apps for download. The clean, new look of Copart Mobile combines an easy-to-use interface with full-screen vehicle images, vehicle dropdown menus, and an innovative live auction bidding experience. Copart Mobile enables users to search for vehicles from virtually anywhere around the world, displaying search results on a map or in list form. Users can also add items to their watchlist, save searches and bid directly from their iPhone, iPad or iPod Touch. New users can register within the mobile app to save time.

Copart, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended January 31, 2013. For the quarter, the company reported total service revenues and vehicle sales of $266,185,000 compared to $227,904,000 a year ago. Operating income was $62,770,000 compared to $63,539,000 a year ago. Income before income taxes was $61,117,000 compared to $62,216,000 a year ago. Net income was $39,640,000 compared to $40,603,000 a year ago. Diluted earnings per share were $0.31 compared to $0.31 a year ago. The operating results for the second quarter were adversely affected by abnormal costs incurred as a result of hurricane Sandy. These costs include the additional towing, payroll, equipment, travel, housing and facilities expenses directly related to the operating conditions created by hurricane Sandy. The company consumed $22 million of operating cash flows. The growth in revenue was driven by both increased volume and increase revenue per car. For the six months, the company reported total service revenues and vehicle sales of $505,051,000 compared to $453,530,000 a year ago. Operating income was $137,127,000 compared to $128,915,000 a year ago. Income before income taxes was $132,705,000 compared to $126,031,000 a year ago. Net income was $85,485,000 compared to $81,752,000 a year ago. Diluted earnings per share were $0.66 compared to $0.62 a year ago. Net cash provided by operating activities was $53,090,000 compared to $90,348,000 a year ago. Purchases of property and equipment including acquisitions were $110,554,000 compared to $15,055,000 a year ago.

Copart, Inc., Q2 2013 Earnings Call, Feb 28, 2013