FAIRFIELD, Calif. -

Copart said it notched a 6-percent year-over-year lift in net income during the second quarter of its 2011 fiscal year, which wrapped up Jan. 31.

Meanwhile, operating income climbed double digits, as did quarterly revenues.

Specifically, Copart posted net income of $37.9 million. Operating income for the quarter came in at $60.2 million, which marked a 13.1-percent year-over-year gain.

Revenues totaled $207.4 million, up 17.4 percent from the year-ago period.

Looking at results for the first two quarters of fiscal 2011, Copart said its revenue totaled $420 million, marking a 16-percent hike. Operating income was at $119.8 million, up 9.2 percent year-over-year.

Net income totaled $75.7 million, a 6.6-percent year-over-year spike.

Moving along to talk about fully diluted earnings per share, during the second quarter these came in at $0.46, up 9.5 percent year-over-year.

For the six-month period, they were at $0.91, up 8.3 percent.

“During the current quarter the company completed a tender offer resulting in the repurchase of 12,172,088 shares of its common stock at a price of $38.00 per share,” Copart noted.

“Also, during the current quarter, the company received a beneficial ruling in the U.K. respecting the treatment of the value added tax on certain prior period transactions. This ruling resulted in the recognition of additional revenue of approximately $1.8 million and increased diluted earnings per share for the current quarter by $0.01,” it added.