DALLAS -

Copart is pleased that  not only is it posting salvage volume gains — thanks in part to an exclusive contract with a major car insurance carrier — but the company is also maintaining a targeted ratio in relation to its non-salvage business, too.

When discussing its 2012 fiscal year on Wednesday, chief financial officer Will Franklin confirmed Copart began to see the incremental volume associated with its exclusive contract with Nationwide Insurance, which the auction company entered into in its previous fiscal quarter.

“We expect incremental volume for this contract to reach full run-rate by the end of the first quarter of fiscal 2013 and to be fully reflected in our second-quarter results,” Franklin said.

Meanwhile, Copart noted that volume from non-insurance units grew by almost 5 percent and represented 21 percent of all units the company moved in the quarter that closed on July 31.

“We go after all facets of the non-insurance market, whether it’s charity or dealer business,” Copart chief executive officer Jay Adair told investment analysts during a conference call. “We’re going to continue to go after that. We’ve been successful, and I really think the limit is quite high. It’s an enormous market compared to the size of total-loss vehicles in the U.S., the U.K. or any other market.

“What excites me about it is it’s one of those books of business where we’ve some really great growth in the last year on the insurance side and yet we’re maintaining a 79-21 split. They’ve been able to keep the growth going on even though the insurance side has been growing rapidly. That’s good stuff,” Adair went on to say.

An analyst wondered if more volume could be coming from another major insurance provider since Copart has landed contract work from Nationwide and Allstate during the past two years.

“Buddy, if I had a crystal ball I’d share it with you,” Adair quipped. “Those are things you just don’t know. We’re working really hard on this end. We fully believe in our team and our technology and our people’s ability. We’re passionate about what we do. I think when people meet us, they figure that out pretty quickly. We’re a company that is going to be around for a long time. We’re not interested in doing something differently. This is what we do and what we love. Hopefully, over time that will generate additional business.”

And business during its fourth quarter and most recent fiscal year turned out to be encouraging for Copart, which completed its relocation from Fairfield, Calif., to Dallas during the span, as well.

For the fourth quarter, Copart’s revenue, operating income and net income were $226.6 million, $69.5 million and $44.9 million, respectively.

The figures represented year-over-year increases in revenue of $11.1 million or 5.2 percent; in operating income of $6.0 million or 9.5 percent; and in net income of $4.4 million, or 10.8 percent.

Officials computed that fully diluted earnings per share for the quarter rose to $0.35 compared to $0.29 last year, an increase of 20.7 percent.

For the fiscal year, the company reported revenue, operating income and net income of $924.2 million, $286.4 million and $182.1 million, respectively.

The totals represented year-over-year increases in revenue of $51.9 million or 6.0 percent; in operating income of $21.1 million or 7.9 percent; and in net income of $15.7 million or 9.5 percent.

Fully diluted earnings per share for the year were $1.39, compared to $1.08 a year earlier, a jump of 28.7 percent.

“We’re really excited about the things that took place for Copart in fiscal 2012,” Adair emphasized.

Also of note from its 2012 fiscal-year rundown, Copart repurchased 2.8 million shares of  its common stock at a weighted average price of $23.22 per share under its share repurchase program.

As of July 31, Copart had more than 48.2 million shares available for repurchase under its share repurchase program.