Copart, Inc.

Excuse me, everyone. We now have our speakers in conference. Please be aware that each of your lines is in enlistment mode. At the conclusion of today's presentation, we'll open the floor for questions. At that time, instructions will be given as a procedure to follow if you would like to ask a question. I would now like to turn the conference over to President and CFO, Jeff Leal. Please go ahead, sir.

Thank you, Dan, and welcome to COPAR's fiscal 2021st quarter earnings call. I'll ask Darren Hart, our VP of Finance, to start with the safe harbors.

Thanks, Jeff. During today's call, we'll discuss certain non-GAAP measures, including non-GAAP net income per diluted common share, which includes adjustments to reverse the effects of certain discrete income tax items, foreign currency-related gains, certain income tax benefits and payroll taxes related to applying for stock option exercises, and the effects on common equivalent shares from ASU 2016-09. We provide a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures on our website, under the investor relations link and in our press release issued yesterday. We believe the presentation of these non-GAAP measures, together with the corresponding GAAP measures, is relevant in assessing Copart's business trends and financial performance. We analyzed our results on both a GAAP and non-GAAP basis described above. In addition, this call contains forward-looking statements within the meeting of federal securities laws, which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. We do not undertake to update any forward-looking statements that may be made from time to time on our behalf. For a more complete discussion of the risks that could affect our business, please review the management discussion analysis portion of our latest periodic report filed with the SEC. Thanks, Eric.