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CarMax Opens Another Store
CarMax Inc. celebrated its first store in Reno, Nev.

The store, located at 35 Auto Cente...

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Former Auction Owner Gets Three Years
A former auction owner will spend three years in prison for defrauding car dealers.
Michael L...

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IAA Expands in Texas
Insurance Auto Auctions Inc. announced the acquisition of two facilities from Auction Systems, a Wes...

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Big Banks Win Over Small Businesses
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CarMax Opens Another Store
Former Auction Owner Gets Three Years
IAA Expands in Texas
Big Banks Win Over Small Businesses

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Copart Reports Increase in Revenue, Net Income

copartCopart, Inc. recently reported results for the quarter ended April 30, the third quarter of its fiscal year.

For the three months ended April 30, revenue, operating income and net income were $244.1 million, $87.9 million and $55.5 million, respectively. These represent increases in revenue of $7.4 million, or 3.1 percent; in operating income of $5.9 million, or 7.2 percent; and in net income of $5.3 million, or 10.6 percent, respectively, from the same quarter last year. Fully diluted earnings per share for the three months were $0.43 compared to $0.35 last year, an increase of 22.9 percent.

For the nine months ended April 30, revenue, operating income and net income were $697.6 million, $216.9 million and $137.2 million, respectively. These represent increases in revenue of $40.8 million, or 6.2 percent; in operating income of $15 million, or 7.4 percent; and in net income of $11.4 million, or 9 percent, respectively, from the same period last year. Fully diluted earnings per share for the nine months ended April 30, were $1.04 compared to $0.79 last year, an increase of 31.6 percent.