Copart, Inc. (NASDAQ: CPRT) stock fell 0.9% after the company in the third quarter of FY 18 has reported the adjusted earnings per share of $0.52. Adjusted revenue rose 27.9 percent to $478.20 million from $373.86 million last year. The company’s bottom line has totaled $127.35 million in the third quarter 2018, compared with $90.55 million, in last year’s third quarter.

Meanwhile, CPRT has announced the expansion of its location near Minneapolis, located at 3737 East River Road in Fridley, Minnesota. This new expansion will add twenty acres of land to support the clients in Minnesota. On the other hand, a software consulting firm committed professional negligence to the tune of more than $20 million when it botched a project for the online vehicle auction business Copart Inc. The jury also found Sparta Consulting Inc. concealed its failures from Copart, saying an additional $4.69 million would compensate the company for Sparta’s fraud.

Moreover, for the nine months ended April 30, 2018, the revenue, gross profit, and net income were $1.4 billion, $573.9 million, and $308.1 million, respectively. These represent the growth in revenue of $287.1 million, or 26.8%; an increase in gross profit of $109.4 million, or 23.5%; and a decrease in net income of $15.8 million, or 4.9%, respectively, from the same period last year. The fully diluted earnings per share for the nine months were $1.28 compared to $1.37 last year, a decrease of 6.6%.

Additionally, the company’s operating results for the three and nine months ended April 30, 2018 were adversely affected due to the abnormal costs of $7.4 million and $79.7 million, respectively, incurred by the company as a result of Hurricane Harvey. These costs included temporary storage facilities, premiums for subhaulers, labor costs incurred from overtime; travel and lodging due to the reassignment of employees to the affected region; and equipment lease expenses to handle the increased volume, as well as cost of vehicle sales. These costs, net of the associated revenues of $3.5 million and $66.9 million, respectively, generated pre-tax loss for the three months ended April 30, 2018 of $3.9 million, and a pre-tax loss of $12.8 million for the nine month period. The operating results for the nine months ended April 30, 2018 were also adversely impacted by a charge of $11.0 million to income tax expense for the deemed repatriation of foreign earnings and profits under the Tax Cuts and Jobs Act of 2017, net of deferred tax changes, and was offset by the Act’s reduction of the federal corporate income tax rate.