Copart's CEO Discusses F3Q2012 Results - Earnings Call Transcript

Copart, Inc. (CPRT)

F3Q2012 Earnings Conference Call

May 30, 2012, 11:00 a.m. ET


Jay Adair - CEO

Will Franklin - CFO


John Lovallo - Bank of America/Merrill Lynch

Scott Stember - Sidoti & Company

Jason Ursaner - CJS Securities

Bill Armstrong - C.L. King & Associates

Craig Kennison - Robert W. Baird

Edward Hemmelgarn - Shaker Investments



Good day everyone and welcome to today’s Copart’s Q3 Fiscal 2012 Earnings Conference Call. Today’s call is being recorded. I will now turn the conference to Jay Adair, Chief Executive Officer. Please go ahead sir.

Jay Adair

Thank you, Augusta. Good morning everyone. We are really excited to report on the third quarter earnings for Copart. It's my pleasure to welcome you all to the call. Will Franklin and I are in two different locations today. So, I’m going to turn the call over to him, he will go through his prepared remarks, I’ll add little color towards the end and then we will open up for questions.

So, with that it's my pleasure to introduce to you Will Franklin, CFO for Copart.

Will Franklin

Thank you, Jay and good morning everyone. Before we begin our comments I’d like to remind everyone on the call that our remarks will contain forward-looking statements. These include statements concerning our views and trend in our business. These statements neither promises nor guarantees that are subject to certain risk and uncertainties that could cause the final results to differ substantially from those projected or implied by our statements and comment. These risks include trends and average selling prices for cars and other factors that can affect our gross margin. For more complete discussion of the risk that effect our business please review the management’s discussion and analysis and the risk factors contained in the 10-Q, 10-K and other SEC filings.

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