Copart Reports Record First Quarter Results.(Copart Inc., ist fiscal quarter net income)(Brief Article)(Statistical Data Include

Copart, Inc. said its earned net income for the first fiscal quarter ended October 31, 2001 was $12,758,200 or $.22 per diluted share, generating a 38 percent increase in earnings per share over the same period in fiscal 2001, on revenues of $72,282,500. The company had net income of $8,919,200, or $.16 per diluted share, on revenues of $57,139,400 for the same period in fiscal 2001.

"During the quarter we had 27 percent revenue growth and 38 percent earnings per share growth. On the revenue side we continued to see strong performance from existing markets. Same-store revenue growth for the quarter was 17 percent and total organic growth was 21 percent. Organic growth is same-store growth plus revenues from new stores opened not acquired. Acquired revenues contributed an additional 6 percent of revenue growth," said A. Jayson Adair, Copart's President.

During November 2001 Copart completed a follow-on offering of 4.6 million shares at $29 per share. All of the shares were sold by Copart and the offering raised $126.73 million after underwriting discounts. The company said, for the second quarter ending January 31, 2002, earnings are currently forecasted to be approximately $.21. For the fiscal year ending July 31, 2002, the current forecast is for EPS of approximately $.95.

Copart, founded in 1982, provides vehicle suppliers, primarily insurance companies, with a full range of services to process and sell salvage vehicles through auctions, principally to licensed vehicle dismantlers, rebuilders, repair licensees and used vehicle dealers.

The company operates 88 facilities in 39 states. It also provides services in other locations through its national network of independent salvage vehicle processors.

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