EXHIBIT 11.1
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COPART, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER SHARE
Years Ended July 31,
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1996 1995 1994
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Common shares issued and
outstanding 12,433,204 9,733,201 6,334,870
Common Stock Equivalents:
Warrants and Stock options 782,432 881,000 969,981
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13,215,636 10,614,201 7,304,851
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Income before extraordinary item $ 11,185,400 $ 6,894,300 $ 2,222,400
Extraordinary item -- -- (1,632,800)
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Net income $ 11,185,400 $ 6,894,300 $ 589,600
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Per share:
Income before extraordinary item $ 0.85 $ 0.65 $ 0.30
Extraordinary item -- -- (0.22)
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Net income $ 0.85 $ 0.65 $ 0.08
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Net income per share is computed by using the weighted average number of
common shares and equivalents assumed to be outstanding during the periods.
Common stock options and warrants to purchase common stock were included in
the calculation of net income per share.