May 22 (Reuters) - Copart ( CPRT ) reported

third-quarter revenue and net income below Wall Street estimates

on Thursday, as weak vehicle sales and higher expenses offset

growth in its services segment.

Shares of the company, which primarily provides auction

services to sell damaged and total-loss vehicles to used-car

dealers and dismantlers, dropped as much as 4.3% after the bell.

Third-quarter revenue from vehicle sales reached $177

million, a 2.1% decline compared to last year, contrasting with

an 8.6% year-over-year increase in the second quarter.

The Dallas, Texas-based company also saw its quarterly

facility operating expenses rise by 12.3% to $439 million, while

the cost of vehicle sales increased 4.2% to $170 million.

Meanwhile, its service segment grew 9.3% to nearly $1.04

billion during the quarter.

Copart ( CPRT ) reported total revenue of $1.21 billion for the

quarter ended March 31, missing analysts' estimates of $1.23

billion.

Net income for the quarter came in at $406.6 million,

slightly below the expected $407.34 million, according to data

compiled by LSEG.