Copart Q4 Profit Tops Estimate

(RTTNews) - Junk car auctioneer Copart, Inc. (CPRT) reported net income for the fourth quarter of $57.4 million or $0.44 per share, compared to $51.0 million or $0.39 per share for the year-ago quarter.

Results for the latest as well as the year-ago quarter included the impact of the beneficial resolution of uncertain tax positions, which increased earnings per share each period by $0.03.

Total revenue for the fourth quarter fell 1.8% to $282.29 million from $287.45 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $282.16 million for the fourth quarter.