<SEC-DOCUMENT>0001145443-11-001189.txt : 20111129
<SEC-HEADER>0001145443-11-001189.hdr.sgml : 20111129
<ACCEPTANCE-DATETIME>20111129062058
ACCESSION NUMBER:		0001145443-11-001189
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111128
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20111129
DATE AS OF CHANGE:		20111129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COPART INC
		CENTRAL INDEX KEY:			0000900075
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				942867490
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23255
		FILM NUMBER:		111229594

	BUSINESS ADDRESS:	
		STREET 1:		4665 BUSINESS CENTER DRIVE
		CITY:			FAIRFIELD
		STATE:			CA
		ZIP:			94534
		BUSINESS PHONE:		7076395000

	MAIL ADDRESS:	
		STREET 1:		4665 BUSINESS CENTER DRIVE
		CITY:			FAIRFIELD
		STATE:			CA
		ZIP:			94534
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d28880.htm
<DESCRIPTION>8-K
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
<META NAME="author" CONTENT="Simon Rote">
<META NAME="date" CONTENT="11/28/2011">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=144></TD><TD width=64></TD><TD width=208></TD><TD width=64></TD><TD width=144></TD></TR>
<TR><TD style="border-top:3px double #000000" valign=top width=624 colspan=5><P style="line-height:19pt; margin-top:9.467px; margin-bottom:0px; font-size:17pt" align=center><B>UNITED STATES </B></P>
<P style="line-height:19pt; margin-top:9.467px; margin-bottom:0px; font-size:17pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>____________________________________________</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:19pt; margin-top:22.667px; margin-bottom:0px; font-size:17pt" align=center><B>FORM 8-K</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:15pt; margin-top:17.333px; margin-bottom:0px; font-size:13pt" align=center><B>CURRENT REPORT</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:15pt; margin:0px; font-size:13pt" align=center><B>Pursuant to Section&nbsp;13 or 15(d) of<BR>
the Securities Exchange Act of 1934</B></P>
</TD></TR>
<TR><TD valign=bottom width=144><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=336 colspan=3><P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center><B>November 28, 2011</B></P>
</TD><TD valign=bottom width=144><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>Date of Report (date of earliest event reported)</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="margin-top:22.667px; margin-bottom:0px; padding-bottom:4px" align=center><BR></P>
<P style="line-height:19pt; margin:0px; padding-bottom:4px; font-size:17pt; border-bottom:1px solid #000000" align=center><B>Copart, Inc.</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>(Exact name of Registrant as specified in its charter)</B></P>
</TD></TR>
<TR><TD valign=top width=208 colspan=2><P style="line-height:13pt; margin-top:34.2px; margin-bottom:0px; padding-bottom:4px; font-size:11pt; border-bottom:1px solid #000000" align=center><B>California</B></P>
</TD><TD valign=top width=208><P style="line-height:13pt; margin-top:34.2px; margin-bottom:0px; padding-bottom:4px; font-size:11pt; border-bottom:1px solid #000000" align=center><B>0-23255</B></P>
</TD><TD valign=top width=208 colspan=2><P style="line-height:13pt; margin-top:34.2px; margin-bottom:0px; padding-bottom:4px; font-size:11pt; border-bottom:1px solid #000000" align=center><B>94-2867490</B></P>
</TD></TR>
<TR><TD valign=top width=208 colspan=2><P style="line-height:10pt; margin-top:0px; margin-bottom:2.667px; font-size:8pt" align=center><B>(State or other jurisdiction of<BR>
incorporation or organization)</B></P>
</TD><TD valign=top width=208><P style="line-height:10pt; margin-top:0px; margin-bottom:2.667px; font-size:8pt" align=center><B>(Commission File Number)</B></P>
</TD><TD valign=top width=208 colspan=2><P style="line-height:10pt; margin-top:0px; margin-bottom:2.667px; font-size:8pt" align=center><B>(I.R.S. Employer<BR>
Identification Number)</B></P>
</TD></TR>
<TR><TD valign=bottom width=144><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=336 colspan=3><P style="line-height:11.6pt; margin-top:3.333px; margin-bottom:0px" align=center><B>4665 Business Center Drive</B></P>
<P style="line-height:11.6pt; margin:0px" align=center><B>Fairfield, California &nbsp;94534</B></P>
</TD><TD valign=bottom width=144><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>(Address of principal executive offices)</B></P>
</TD></TR>
<TR><TD valign=bottom width=144><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=336 colspan=3><P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center><B>(707) 639-5000</B></P>
</TD><TD valign=bottom width=144><P>&nbsp;</P></TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>(Registrant&#146;s telephone number, including area code)</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P>&nbsp;</P></TD></TR>
<TR><TD style="border-bottom:1px solid #000000" valign=bottom width=624 colspan=5><P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center><B>Not applicable</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:10pt; margin:0px; font-size:8pt" align=center><B>(Former name or former address, if changed since last report)</B></P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="margin-top:14.667px; margin-bottom:0px; font-size:11pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="margin:0px; font-size:11pt">[ &nbsp;] Written communication pursuant to Rule 425 under Section Act (17 CFR 230.425)</P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:13pt; margin:0px; font-size:11pt">[ &nbsp;]<B> </B>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR><TD valign=top width=624 colspan=5><P style="line-height:13pt; margin:0px; font-size:11pt">[ &nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR<FONT style="font-family:Arial Unicode MS"> </FONT>240.14d-2(b)).</P>
</TD></TR>
<TR><TD style="border-bottom:3px double #000000" valign=top width=624 colspan=5><P style="line-height:13pt; margin:0px; font-size:11pt">[ &nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).</P>
</TD></TR>
</TABLE>

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<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>INFORMATION INCLUDED IN THIS REPORT</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>Section &nbsp;2 &#151; Financial Information</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-family:Arial Unicode MS; font-size:7.5pt"><FONT style="font-family:Times New Roman; font-size:11pt"><B><I>Item 2.02</I></B></FONT></P>
<P style="line-height:13pt; margin:0px; text-indent:96px; font-size:11pt"><B><I>Results of Operations and Financial Condition</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:32.667px; font-size:11pt">The following information is intended to be furnished under Item 2.02 of Form 8-K, &#147;Results of Operations and Financial Condition.&#148; This information shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:32.667px; font-size:11pt">On November 28, 2011, Copart, Inc. issued a press release announcing its financial results for the first quarter of fiscal year 2012 which ended October 31, 2011. The full text of the press release is furnished herewith as <U>Exhibit 99.1</U>.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>Section 9 &#151; Financial Statements and Exhibits </B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt"><B><I>Item 9.01</I></B></P>
<P style="line-height:13pt; margin:0px; text-indent:72px; font-size:11pt"><B><I>Financial Statements and Exhibits</I></B></P>
<P style="margin:0px; font-family:Arial Unicode MS; font-size:11pt">&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=24.267></TD><TD width=18.2></TD><TD width=6.067></TD><TD width=558.533></TD></TR>
<TR><TD width=24.267><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD valign=top width=18.2><P style="line-height:13pt; margin:0px; font-size:11pt">(d)</P>
</TD><TD valign=top width=6.067><P style="margin:0px; font-size:11pt">&nbsp;</P>
</TD><TD valign=top width=558.533><P style="line-height:13pt; margin:0px; font-size:11pt">Exhibits </P>
</TD></TR>
</TABLE>
<P style="margin:0px; font-family:Arial Unicode MS; font-size:11pt">&nbsp;</P>
<P style="line-height:13pt; margin:0px; text-indent:32.667px; font-size:11pt">The following exhibit is furnished herewith: </P>
<P style="margin:0px; font-family:Arial Unicode MS; font-size:11pt">&nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=56.733></TD><TD width=446.667></TD></TR>
<TR><TD valign=top width=56.733><P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>Exhibit <U>Number</U></B></P>
</TD><TD valign=top width=446.667><P style="margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:48px; font-size:11pt"><B><U>Description</U></B></P>
</TD></TR>
<TR><TD valign=top width=56.733><P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center>99.1</P>
</TD><TD valign=top width=446.667><P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; padding-left:48px; font-size:11pt">Press release, dated November 28, 2011 of Copart, Inc. announcing its financial results for the first quarter ended October 31, 2011.</P>
</TD></TR>
</TABLE>
<P style="margin:0px; font-family:Arial Unicode MS; font-size:11pt">&nbsp;</P>
<P style="margin-top:14.667px; margin-bottom:0px"><BR>
<BR></P>

<P style="margin:0px"><BR></P>

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<P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center>SIGNATURES</P>
<P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; text-indent:48px; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </P>
<P style="margin-top:14.667px; margin-bottom:0px" align=center><BR></P>
<P style="line-height:13pt; margin-top:14.667px; margin-bottom:-17.333px; font-size:11pt">Dated: November 28, 2011 </P>
<P style="line-height:13pt; margin:0px; text-indent:336px; font-size:11pt"><B>Copart, Inc.</B></P>
<P style="margin-top:14.667px; margin-bottom:0px"><BR></P>
<P style="line-height:13pt; margin:0px; padding-left:336px; font-size:11pt">By: <U>&nbsp;/s/ William E. Franklin </U></P>
<P style="line-height:13pt; margin:0px; padding-left:360px; font-size:11pt">William E. Franklin</P>
<P style="line-height:13pt; margin:0px; padding-left:360px; font-size:11pt">Senior Vice President of Finance and</P>
<P style="line-height:13pt; margin:0px; padding-left:360px; font-size:11pt">Chief Financial Officer</P>
<P style="margin-top:14.667px; margin-bottom:0px" align=center><BR><BR></P>


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<P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt" align=center><B>INDEX TO EXHIBITS</B></P>
<P style="line-height:13pt; margin-top:14.667px; margin-bottom:0px; font-size:11pt">Exhibit </P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt"><U>Number</U> </P>
<P style="line-height:13pt; margin:0px; text-indent:96px; font-size:11pt"><U>Description</U></P>
<P style="line-height:13pt; margin-top:14.667px; margin-bottom:-17.333px; padding-left:96px; text-indent:-96px; font-size:11pt">99.1 </P>
<P style="line-height:13pt; margin:0px; padding-left:96px; font-size:11pt">Press release, dated November 28, 2011, of Copart, Inc. announcing its financial results for the first quarter ended October 31, 2011.</P>
<P style="margin-top:14.667px; margin-bottom:0px"><BR></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d28880_ex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<HEAD>
<TITLE>Press Release Draft 4 (00003332.DOC;1)</TITLE>
<META NAME="author" CONTENT="Rob Foss">
<META NAME="date" CONTENT="11/28/2011">
</HEAD>
<BODY style="line-height:12pt; font-family:Arial; font-size:10pt; color:#000000">
<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">For Immediate Release</P>
<P style="line-height:13pt; margin:0px">&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>Copart Reports First Quarter Fiscal 2012 Financial Results</B></P>
<P style="line-height:13pt; margin:0px">&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>Fairfield, Calif. (November 28, 2011) &#151; Copart, Inc. (NASDAQ: CPRT) today reported the results for its first quarter ended October 31, 2011.</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>For the three months ended October 31, 2011, revenue, operating income and net income were $225.6 million, $65.4 million and $41.1 million, respectively. These represent increases in revenue of $13.0 million, or 6.1%; in operating income of $5.8 million, or 9.7%; and in net income of $3.3 million, or 8.8%, from the same quarter last year. Fully diluted earnings per share for the three months ended October 31, 2011 were $0.62 compared to $0.45 for the same period last year, an increase of 37.8%.</P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>During the first quarter of our fiscal 2011, the Company prospectively adopted <I>Accounting Standards Update 2009-13, Revenue Arrangements with Multiple Deliverables </I>(ASU 2009-13)<I>. </I>&nbsp;Consequently, effective August 1, 2010, the Company recognizes certain revenues, primarily towing fees, titling fees and vehicle preparation fees when the service is performed. Prior to our first quarter of fiscal 2011, these revenues were recognized when the car associated with those fees was sold. As a result of this change, the Company recognized approximately $9.1 million in revenue and $8.8 million in expenses associated with that revenue which would have otherwise been recognized in future periods. Excluding the impact of ASU 2009-13, growth in revenue would have been $19.9 million, or 9.8%, over the same quarter last year. A reconciliation between revenue on a GAAP basis and non-GAAP revenue is provided in the table on page 6.</P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>During the current quarter the Company incurred approximately $1.5 million in additional expenses, primarily stay pay, severance and relocation expenses, directly associated with moving its headquarters from Fairfield, CA to Dallas, TX.</P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>Also, during the current quarter the Company repurchased 1,069,898 shares of its common stock at a weighted average price of $40.73 per share under its share repurchase program. At the end of the quarter, Copart had 27,477,065 shares available for repurchase under its share repurchase program.</P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>

<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>On Tuesday, November 29, 2011, at 11 a.m. Eastern time, Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live at<BR>
<U>http://w.on24.com/r.htm?e=380654&amp;s=1&amp;k=73FA6EB94CC464A48B730936FB8C9F21</U>. A replay of the call will be available through December 31, 2011 by calling (888) 203-1112. Use confirmation code #7946277.</P>

<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>This release includes non-GAAP revenue, this non-GAAP measure is not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles. Copart believes that this non-GAAP measure has limitations in that it does not reflect all of the amounts associated with Copart&#146;s results of operations as determined in accordance</P>


<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 1 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>

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<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>

<P style="margin:0px">&nbsp;</P>


<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>with GAAP and that this measure should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measure. </P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt"><B>About Copart</B></P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>Copart, founded in 1982, provides vehicle sellers with a full range of remarketing services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some states, to end users. Copart remarkets the vehicles through Internet sales utilizing its patented VB<SUP>2</SUP> technology. Copart sells vehicles on behalf of insurance companies, banks, finance companies, fleet operators, dealers, car dealerships and others as well as cars sourced from the general public. The company currently operates 154 facilities in the United States, Canada and the United Kingdom. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. For more information, or to become a member, visit <FONT style="color:#0000FF"><U>www.copart.com</U></FONT><FONT style="font-family:Palatino; font-size:11pt"></FONT>.</P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt"><B>Cautionary Note About Forward-Looking Statements</B></P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=justify>This press release contains forward-looking statements within the meaning of federal securities laws, and these forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the &#147;Management's Discussion and Analysis&#148; and the other risks identified in Copart&#146;s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully.&nbsp;We do not undertake to update any forward-looking statement that may be made from time to time on our behalf. </P>
<P style="line-height:13pt; margin:0px" align=justify>&nbsp;</P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:15pt; margin-top:0px; margin-bottom:-20px; font-family:Arial; font-size:11pt">Contact:</P>
<P style="line-height:15pt; margin-top:0px; margin-bottom:-20px; text-indent:84px; font-family:Arial; font-size:11pt">Cindy Cross, Assistant to the Chief Financial Officer</P>
<P style="line-height:13pt; margin:0px; text-indent:420px; font-family:Arial; font-size:11pt">&nbsp;</P>
<P style="line-height:15pt; margin-top:6px; margin-bottom:0px; text-indent:84px; font-family:Arial; font-size:11pt">(707) 639-5427</P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 2 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>





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<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>Consolidated Statements of Income </B></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>(in thousands, except per share data)</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>(Unaudited)</P>


<TABLE style="font-size:10pt" cellspacing=0>


<TR height=0 style="font-size:0"><TD width=421.067></TD>
<TD width=18.133></TD>
<TD width=11.867></TD>
<TD width=96.933></TD>
<TD STYLE="width: 12px; vertical-align: bottom; text-align: left"></TD>
<TD width=10.867></TD>
<TD width=0.667></TD>
<TD width=0.4></TD>
<TD width=72.333></TD>
<TD STYLE="width: 16.8px; vertical-align: bottom; text-align: left"></TD></TR>


<TR><TD valign=bottom width=421.067><P>&nbsp;</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=205.067 colspan=7><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>Three&nbsp;months&nbsp;ended<BR>
October&nbsp;31,</B></P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P>&nbsp;</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>2011</B></P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>2010</B></P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Net sales and revenue:</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>



<TR>
<TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Service revenues</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD valign=bottom width=96.933><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>185,647&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=11.933><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD valign=bottom width=72.333 colspan=3><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>179,580</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Vehicle sales</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>39,979&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>33,087</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total service revenues and vehicle sales</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>225,626&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>212,667</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Operating costs and expenses:</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Yard operations</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>88,005&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>86,158</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Cost of vehicle sales</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>34,194&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>28,206</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Yard depreciation and amortization</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>8,202&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>9,449</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;Gross margin</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>95,225&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>88,854</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;General and administrative</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>25,956&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>26,984</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;General and administrative depreciation and amortization</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>3,893&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>2,276</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>160,250&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>153,073</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating income</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>65,376&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>59,594</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Other (expense) income:</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Interest (expense) income</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>(2,125)</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt"></P></TD>
<TD valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>65</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Other income</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>564&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>504</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total other (expense) income</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>(1,561)</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt"></P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>569</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">&nbsp;Income before income taxes</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>63,815&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>60,163</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Income taxes</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>22,666&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>22,340</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>



<TR>
<TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Net income</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=96.933><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>41,149&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; border-bottom: #000000 0px double; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=11.933 colspan=3><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=72.333><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>37,823</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD>
</TR>





<TR>
<TD valign=bottom width=421.067><P>&nbsp;</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD>
</TR>





<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Earnings per share-basic</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Basic net income per share</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=96.933><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>0.63&nbsp;&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=11.533 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=72.733 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>0.45</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Weighted average common shares outstanding</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>65,716&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>83,745</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P>&nbsp;</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Earnings per share-diluted</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.8 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84.267 colspan=4><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Diluted net income per share</P></TD>
<TD valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=96.933><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>0.62&nbsp;&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=10.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=73.4 colspan=3><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>0.45</P></TD>
<TD STYLE="vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>


<TR><TD style="background-color:#CCEEFF" valign=bottom width=421.067><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Weighted average common shares and dilutive potential common shares outstanding</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18.133><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=108.8 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>66,901&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=84.267 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>84,406</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 16.8px; text-align: left"><P>&nbsp;</P></TD></TR>
</TABLE>




















<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 3 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>





<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=5>




<PAGE>






<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:12pt" align=center><B>Consolidated Balance Sheets </B></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:12pt" align=center>(in thousands)</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:12pt" align=center>(Unaudited)</P>
<P style="line-height:13pt; margin:0px" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0>

<TR height=0 style="font-size:0">
<TD width=0.667></TD>
<TD width=420.067></TD>
<TD width=18></TD>
<TD width=12></TD>
<TD width=96.067></TD>
<TD STYLE="width: 12px; vertical-align: bottom; text-align: left"></TD>
<TD width=11.867></TD>
<TD width=72.133></TD>
<TD STYLE="width: 17.86px; vertical-align: bottom; text-align: left"></TD>
</TR>

<TR><TD valign=bottom width=0.667><P>&nbsp;</P></TD>
<TD valign=bottom width=420.067><P>&nbsp;</P></TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>October 31,</B></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>&nbsp;2011</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>July&nbsp;31, </B></P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>2011</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt" align=center><B>ASSETS</B></P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Current assets:</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Cash and cash equivalents</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=12><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD valign=bottom width=96.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>212,677&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD valign=bottom width=72.133><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>74,009&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Accounts receivable, net</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>136,284&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>122,859&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Inventories and vehicle pooling costs</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>23,319&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>25,042&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Income taxes receivable</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>785&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>5,145&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Prepaid expenses and other assets</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>11,206&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>14,813&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total current assets</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>384,271&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>241,868&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Property and equipment, net</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>594,851&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>600,388&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Intangibles, net</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>11,399&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>12,748&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Goodwill</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>197,129&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>198,620&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Deferred income taxes</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>12,400&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>9,425&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Other assets</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>25,834&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>21,387&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total assets</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=12><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=96.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>1,225,884&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=72.133><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>1,084,436&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt" align=center><B>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B></P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Current liabilities:</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Accounts payable and accrued liabilities</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=12><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=96.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>101,489&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=72.133><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>101,708&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Deferred revenue</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>4,526&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>5,636&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Income taxes payable</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>22,262&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>3,543&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Deferred income taxes</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>131&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>440&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Current portion of short term debt</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>75,387&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>50,370&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Other current liabilities</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>4,840&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>4,929&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total current liabilities</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>208,635&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>166,626&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Deferred income taxes</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>9,585&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>10,057&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Income taxes payable</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>24,707&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>24,773&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Long term debt</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>425,337&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>325,386&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Other liabilities</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>2,775&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>2,422&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total liabilities</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>671,039&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>529,264&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Commitments and contingencies</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Shareholders&#146; equity:</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=84 colspan=2><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Common stock, no par value - 180,000 shares authorized; 65,055 and 66,006 shares issued and outstanding at October&nbsp;31, 2011 and July&nbsp;31, 2011, respectively</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>315,428&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>313,940&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Accumulated other comprehensive loss</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>(27,339)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=left></P>
</TD>
<TD valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>(23,225)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=left></P>
</TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Retained earnings</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>266,756&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>264,457&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total shareholders&#146; equity</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=108.067 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>554,845&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84 colspan=2><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>555,172&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD style="background-color:#CCEEFF" valign=bottom width=420.733 colspan=2><P style="line-height:13pt; margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial; font-size:11pt">Total liabilities and shareholders&#146; equity</P>
</TD>
<TD style="background-color:#CCEEFF" valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=12><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=96.067><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>1,225,884&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 12px; text-align: left"><P>&nbsp;</P></TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=11.867><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">$</P>
</TD>
<TD style="background-color:#CCEEFF; border-bottom:3px double #000000" valign=bottom width=72.133><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>1,084,436&nbsp;</P>
</TD>
<TD STYLE="background-color: #CCEEFF; vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD></TR>
</TABLE>



<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 4 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>

<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=5>




<PAGE>


<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px"><BR></P>



<P style="line-height:14pt; margin:0px; font-family:Arial; font-size:12pt" align=center><B>Consolidated Statements of Cash Flows<A NAME="ConsolidatedStatementsOfCashFlows_164734"></A></B></P>
<P style="line-height:14pt; margin:0px; font-family:Arial; font-size:12pt" align=center>(in thousands)</P>
<P style="line-height:14pt; margin:0px; font-family:Arial; font-size:12pt" align=center>(Unaudited)</P>

<TABLE style="font-size:10pt" cellspacing=0 border=0>

<TR height=0 style="font-size:0"><TD width=18.133></TD>
<TD width=438.267></TD>
<TD width=11.533></TD>
<TD width=12.067></TD>
<TD width=72.067></TD>
<TD STYLE="width: 1.6px; vertical-align: bottom; text-align: left"></TD>
<TD STYLE="width: 16.26px; vertical-align: bottom; text-align: left"></TD>
<TD width=12.067></TD>
<TD width=6></TD>
<TD width=78.733></TD>
<TD STYLE="width: 12.06px; vertical-align: bottom; text-align: left"></TD></TR>

<TR><TD valign=bottom width=456.4 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=198.8 colspan=7><P style="margin:0px; font-family:Arial" align=center><B>Three&nbsp;Months&nbsp;Ended<BR>
October&nbsp;31,</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=456.4 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=center><B>2011</B></P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=center><B>2010</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial"><B>Cash flows from operating activities:</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Net income</P></TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=12.067><P style="margin:0px; font-family:Arial">$</P></TD>
<TD valign=bottom width=72.067><P style="margin:0px; font-family:Arial" align=right>41,149&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=12.067><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD valign=bottom width=84.733 colspan=2><P style="margin:0px; font-family:Arial" align=right>37,823&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Adjustments to reconcile net income to net cash provided by operating activities:</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Depreciation and amortization</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>12,027&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>11,722&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>



<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Allowance for doubtful accounts</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>(557)</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>(41)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>



<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Deferred rent</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(140)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(88)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Share-based compensation</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>5,045&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>4,636&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Excess tax benefits from share-based compensation</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(202)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(110)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">(Gain) loss on sale and impairment of property and equipment</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>(288)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>1,273&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:40px; text-indent:-13.333px; font-family:Arial">Changes in operating assets and liabilities, net of effects from acquisitions:</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Accounts receivable</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(13,144)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(7,985)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Vehicle pooling costs</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>76&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>9,277&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Inventory</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>1,447&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>739&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Prepaid expenses and other current assets</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>3,499&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>2,819&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Other assets</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(4,165)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(60)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Accounts payable and accrued liabilities</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>207&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>353&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Deferred revenue</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(1,108)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(5,038)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Income taxes receivable</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>4,572&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>8,690&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Deferred income taxes</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>(3,572)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>(395)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Income taxes payable</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>18,727&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>13,923&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:53.333px; text-indent:-13.333px; font-family:Arial">Other liabilities</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>614&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>---&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:66.667px; text-indent:-13.333px; font-family:Arial">Net cash provided by operating activities</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>64,187&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>77,538&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial"><B>Cash flows from investing activities:</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Purchases of property and equipment</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(7,274)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(14,777)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Proceeds from sale of property and equipment</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>182&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>3,704&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:66.667px; text-indent:-13.333px; font-family:Arial">Net cash used in investing activities</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(7,092)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(11,073)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial"><B>Cash flows from financing activities:</B></P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Proceeds from the exercise of stock options</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>1,359&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>674&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Excess tax benefit from share-based payment arrangements</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>202&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>110&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Proceeds from the issuance of long-term debt</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>125,000&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>---&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Debt offering costs</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(313)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>---&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Repurchase of common stock</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 84.13px"><P style="margin:0px; font-family:Arial" align=right>(43,983)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD COLSPAN="3" STYLE="border-bottom: #000000 1px solid; vertical-align: bottom; width: 96.8px"><P style="margin:0px; font-family:Arial" align=right>(75,710)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:66.667px; text-indent:-13.333px; font-family:Arial">Net cash provided by (used in) financing activities</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>82,265&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(74,926)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial">Effect of foreign currency translation</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>(692)</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>743&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial">Net increase (decrease) in cash and cash equivalents</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>138,668&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>(7,718)</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P style="margin:0px; font-family:Arial"></P>
</TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial">Cash and cash equivalents at beginning of period</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P style="margin:0px; font-family:Arial" align=right>74,009&nbsp;</P>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=96.8 colspan=3><P style="margin:0px; font-family:Arial" align=right>268,188&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial">Cash and cash equivalents at end of period</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD STYLE="border-top: #000000 1px solid; border-bottom: #000000 3px double; vertical-align: bottom; width: 12.06px"><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD COLSPAN="2" STYLE="border-top: #000000 1px solid; border-bottom: #000000 3px double; vertical-align: bottom; width: 73.66px"><P style="margin:0px; font-family:Arial" align=right>212,677&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 16.26px; text-align: left"><P>&nbsp;</P></TD>
<TD STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 12.06px"><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 84.73px"><P style="margin:0px; font-family:Arial" align=right>260,470&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P>&nbsp;</P></TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD valign=bottom width=84.133 colspan=2><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD valign=bottom width=96.8 colspan=3><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial"><B>Supplemental disclosure of cash flow information:</B></P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 84.13px"><P>&nbsp;</P></TD>
<TD COLSPAN="2" STYLE="vertical-align: bottom; width: 17.86px; text-align: left"><P>&nbsp;</P></TD>
<TD COLSPAN="3" STYLE="vertical-align: bottom; width: 96.8px"><P>&nbsp;</P></TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: rgb(204,238,255)"><TD valign=bottom width=456.4 colspan=2><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Interest paid</P>
</TD>
<TD valign=bottom width=11.533><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=12.067><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=73.667 colspan=2><P style="margin:0px; font-family:Arial" align=right>2,011&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 16.26px; text-align: left"><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=12.067><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=84.733 colspan=2><P style="margin:0px; font-family:Arial" align=right>15&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>

<TR STYLE="background-color: White"><TD COLSPAN="2" STYLE="vertical-align: bottom; width: 456.4px"><P style="margin:0px; padding-left:26.667px; text-indent:-13.333px; font-family:Arial">Income taxes paid</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 11.53px"><P>&nbsp;</P></TD>
<TD STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 12.06px"><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 73.66px"><P style="margin:0px; font-family:Arial" align=right>2,998&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 16.26px; text-align: left"><P>&nbsp;</P></TD>
<TD STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 12.06px"><P style="margin:0px; font-family:Arial">$</P>
</TD>
<TD COLSPAN="2" STYLE="border-bottom: #000000 3px double; vertical-align: bottom; width: 84.73px"><P style="margin:0px; font-family:Arial" align=right>122&nbsp;</P>
</TD>
<TD STYLE="vertical-align: bottom; width: 12.06px; text-align: left"><P>&nbsp;</P></TD></TR>
</TABLE>





<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 5 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>

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<PAGE>



<P style="line-height:16pt; margin:0px; font-family:Arial; font-size:14pt" align=center><B>Copart, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></P>
<P style="margin:0px"><BR></P>





<P style="line-height:14pt; margin:0px; font-family:Arial; font-size:12pt" align=center><B>Non-GAAP Financial Measure and Reconciliation</B><BR><B>(In thousands)</B><BR><B>(unaudited)</B></P>


<P style="line-height:13pt; margin:0px" align=center><BR>
<BR></P>


<TABLE style="font-size:10pt" cellspacing=0>

<TR height=0 style="font-size:0"><TD width=345.533></TD>
<TD width=3.2></TD>
<TD width=101.8></TD>
<TD width=18></TD>
<TD width=78.267></TD>
<TD width=27.267></TD>
<TD width=3.2></TD></TR>

<TR><TD valign=bottom width=345.533><P>&nbsp;</P></TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=225.333 colspan=4><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>Three&nbsp;months&nbsp;ended<BR>
October&nbsp;31,</B></P>
</TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD></TR>

<TR><TD valign=bottom width=345.533><P>&nbsp;</P></TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD valign=bottom width=101.8><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>2011</B></P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=78.267><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center><B>2010</B></P>
</TD>
<TD valign=bottom width=30.467 colspan=2><P>&nbsp;</P></TD></TR>

<TR style="background-color:#CCEEFF">
<TD valign=bottom width=345.533><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">GAAP service revenues and vehicle sales</P>
</TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD style="border-top:1px solid #000000" valign=bottom width=101.8><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>$ 225,626</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=78.267><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>$ 212,667</P>
</TD>
<TD valign=bottom width=30.467 colspan=2><P>&nbsp;</P></TD></TR>

<TR>
<TD valign=bottom width=345.533><P style="line-height:13pt; margin:0px; padding-left:13.333px; text-indent:-13.333px; font-family:Arial; font-size:11pt">&nbsp;&nbsp;&nbsp;Impact of ASU 2009-13:</P>
</TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=101.8><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>2,146</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:1px solid #000000" valign=bottom width=78.267><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>9,123</P>
</TD>
<TD valign=bottom width=30.467 colspan=2><P>&nbsp;</P></TD></TR>


<TR style="background-color:#CCEEFF">
<TD valign=bottom width=345.533><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt">Non-GAAP service revenues and vehicle sales</P>
</TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=101.8><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>$ 223,480</P>
</TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD style="border-bottom:3px double #000000" valign=bottom width=78.267><P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=right>$ 203,544</P>
</TD>
<TD valign=bottom width=30.467 colspan=2><P>&nbsp;</P></TD></TR>


<TR><TD valign=bottom width=345.533><P>&nbsp;</P></TD>
<TD valign=bottom width=3.2><P>&nbsp;</P></TD>
<TD valign=bottom width=101.8><P>&nbsp;</P></TD>
<TD valign=bottom width=18><P>&nbsp;</P></TD>
<TD valign=bottom width=78.267><P>&nbsp;</P></TD>
<TD valign=bottom width=30.467 colspan=2><P>&nbsp;</P></TD></TR>
</TABLE>
<P style="line-height:13pt; margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-family:Arial; font-size:11pt" align=center>- 6 -</P>
<P style="line-height:13pt; margin:0px; font-family:Arial; font-size:11pt" align=center>Copart, Inc. ~ 4665 Business Center Drive, Fairfield, California 94534 ~ (707) 639-5000</P>
<P style="margin:0px"><BR></P>

<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=5>


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