For the quarter ending Oct. 31 2008, CPRT reported net income of $37.3 million on revenues of $191.6 million. While profit declined .1% from the same quarter in 2007, revenues increased 4.1%. While North American revenues increased 8.5% (with a 6.7% gain in same store sales), UK revenues fell 10% because of currency fluctuations as the dollar increased in value.
Despite posting revenue growth of 34.5% and a 5.4% increase in net income for the quarter ending January 31, CPRT came up short of Wall Street expectations sending the stock plummeting.