All Copart Locations Up and Running!
DALLAS -- October 31, 2012
Copart, Inc. (NASDAQ: CPRT), a global live virtual vehicle auction company,
today announced that all 28 facilities located in the area most heavily
impacted by Hurricane Sandy are fully operational and working to pick up
vehicles. In the wake of Hurricane Sandy the number of flooded and damaged
cars, boats and equipment left behind could be the largest quantity seen on
the east coast since Hurricane Andrew. Copart’s highly developed Catastrophe
Action Team (CAT) was activated prior to Sandy’s landfall and was immediately
put into action after the hurricane subsided. Copart is prepared to provide
the people, equipment and facilities to address the immediate need for the
collection and processing of damaged assets.
“We are working to assist all of our customers both internal and external to
make sure this catastrophe recovery is handled in the most safe and efficient
way possible, as was the case when Hurricane Katrina hit in 2005,” said
Copart’s CEO, Jay Adair. “Our preparation for hurricane Sandy started days
ago. Our team and company are working day and night to serve our customers.”
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^2 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 157 facilities in the United States, Canada, the United Kingdom, and
the United Arab Emirates. 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 www.copart.com.
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 “Management's Discussion and Analysis” and the
other risks identified in Copart’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.We do not undertake to update any forward-looking
statement that may be made from time to time on our behalf.
Deana Lott, 469-374-2801
Assistant to the Chief Financial Officer
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