FAIRFIELD -- Vehicle salvage and reseller Copart, Inc. (NASDAQ: CPRT) today report a 10.6 percent increase in net income during the three months ended April 30 from a year before.
During its fiscal third quarter, Copart reported $55.5 million in net income.
Revenue increased 3.1 percent to $244.1 million from a year before, and operating income rose 7.2 percent to $87.9 million.
Diluted earnings per share for the period were up 22.9 percent to 43 cents.
For the first nine months of its fiscal year, Copart earned $697.6 million in revenue, a 6.2 percent increase from a year before.
Net income increased 9 percent in that period to $137.2 million, and operating income increased 7.4 percent to $216.9 million.
Founded in 1982, Fairfield-based Copart provides services to process and sell salvage- and clean-titled vehicles. The company sells vehicles on behalf of insurance companies, fleet dealers and other entities. The company has 154 facilities in the United States, Canada and the United Kingdom.
The company is shifting its headquarters functions from Fairfield to Texas. In February, the company announced it was setting up divisional processing centers in Prairie, Texas, and Hartford, Conn., as well as in Fairfield.