Copart Gets Lift From U.K. Expansion, Web

Copart CPRT has marked two straight quarters of accelerating earnings growth.

EPS grew 14%, 21% and 28% in the past three quarters. Annual earnings increased each of the past four fiscal years. Return on equity has also grown. Pretax margins have held above 31% during those years.

The Fairfield, Calif., company, which holds salvage vehicle auctions, operates over 130 salvage yards worldwide. It was able to expand outside the U.S. thanks to the Internet, where it started holding auctions four years ago. Most of its business is now conducted online.

Copart's recent expansion into the U.K. has helped boost quarterly sales and earnings. Its fiscal first quarter, which ended in October, topped analyst estimates by 3 cents a share. Sales, which jumped 39%, also beat forecasts.

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