Despite a $5.2 million dip in revenue during the fourth quarter of its 2015 fiscal year, Copart still managed to post increases in both gross margin and net income to close out a year with its fully diluted earnings per share nearly 23 percent higher.

For the quarter that ended July 31, Copart reported this week that its revenue, gross margin and net income came in at $282.3 million, $118.8 million and $57.4 million, respectively. The figures represented a decrease in revenue of $5.2 million, or 1.8 percent; an increase in gross margin of $1.8 million, or 1.6 percent; and an increase in net income of $6.4 million, or 12.5 percent, respectively, from the same quarter last year.

Officials indicated fully diluted earnings per share for Q4 rose to $0.44 compared to $0.39 a year earlier, marking an increase of 12.8 percent.

For the entire fiscal year, Copart determined its revenue, gross margin and net income came in at $1.1 billion, $483.4 million and $219.8 million, respectively. These amounts represent a decrease in revenue of $17.4 million, or 1.5 percent; an increase in gross margin of $14.8 million, or 3.2 percent; and an increase in net income of $41.1 million, or 23.0 percent, respectively, from the same period last year.

Officials added their fully diluted earnings per share for the fiscal year climbed to $1.67, up from $1.36 for an increase of 22.8 percent.

Copart mentioned that included in the operating results for the fourth quarters of its past two fiscal years was the impact of the beneficial resolution of uncertain tax positions, which increased diluted earnings per share each period by $0.03.

Officials also noted that included in the operating results of the prior year was an impairment charge of $29.1 million recorded in Q3 resulting primarily from the abandonment of work previously capitalized in connection with the development of a third-party enterprise operating system.

Copart recognized as a 2015 Confirmit ACE Award Winner

In other company news, Copart has been awarded a 2015 Confirmit ACE (Achievement in Customer Excellence) Award, an accolade the company insisted demonstrates its long-term commitment to customer service.

Officials explained the Confirmit ACE Awards program celebrates outstanding achievement in Voice of the Customer and customer experience. Receiving a Confirmit ACE Award is a distinct honor that demonstrates the recipient’s rigorous application of customer experience processes, and its outstanding performance as measured by those processes. An elite group of Confirmit clients qualified for an ACE Award.

Copart earned the Confirmit ACE Award based on its use of survey programs to make informed decisions that improve the buyer experience. This is Copart’s second consecutive year to be recognized for this award.

“Receiving a Confirmit ACE Award showcases our commitment to delivering the best customer experience possible,” Copart senior director of marketing Michelle Hoffman said. “We’re excited to share this award with our entire company and loyal customer base. Customer feedback will continue to be important as we evolve the buyer experience.”

Confirmit president and chief executive officer Henning Hansen added, “Copart has proven to be a true leader in customer excellence. Its comprehensive program ensures that the voice of the customer is not just part of the business process, but built into the fabric of the company to improve business results and drive change.

“We are proud that Copart works with Confirmit for its customer experience initiatives,” Hansen went on to say.