UPDATE: Copart Posts Upbeat Q4 Profit

Copart

reported a rise in its profit for the fourth quarter. Copart's quarterly net income surged to $44.9 million, or $0.35 per share, from $40.5 million, or $0.30 per share, in the year-ago period. However, analysts were expecting earnings of $0.33 per share. Its total revenue climbed to $226.6 million, from $215.4 million. However, analysts were expecting revenue of $221.12 million. Copart's service revenue rose to $187.5 million from $171 million, while vehicle sales declined to $39 million from $44.4 million. Copart shares gained 7.66% to $29.50 in after-hours trading.