Fairfield, California-based Copart has seemingly found gold in the auto junkyard - to the tune of $400 million per year.

Copart generates revenue by acting as a middleman between insurance companies and used part dealers, rebuilders, etc.

Like most middlemen, Copart prospers by taking a bit from both sides–registration and administrative fees from the buyers, for example–and sometimes a flat rate–typically $50 to $175 a vehicle. More frequently, it receives an incentive-based piece of the action from such major customers as State Farm Insurance’.

Who’d of thought there was so much cash to be made in other people’s junk?

Oh yeah, Pierre Omidyar thought of that a while ago, when he created eBay. But Copart’s future is certainly looking bright.

This apple spoof probably isn’t troubling Steve Jobs too much these days, after Apple’s Q4 profits quadruple as iPod sales soar.

Forbes has the scoop:

For the three months ended Dec. 25, Apple said it earned $295 million, or 70 cents per share. In the same period last year, the company earned $63 million, or 17 cents per share.

Revenue for the quarter was $3.49 billion, up nearly 75 percent from $2 billion in the year-ago quarter.

You really have to love a $48 Billion dollar company that doesn’t have a PR department.

Forbes has an article on the spend-thrift discount retailer:

NEW YORK - In July, Costco Wholesale got the ultimate celebrity endorsement: Oprah Winfrey, whose sanction is a guaranteed sales driver. Even better, Costco didn’t pay a dime for it. And it’s a good thing, because Costco is a $48 billion company that spends nothing on advertising and marketing.

Full article: Forbes.com: Costco Rings Up Results