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TheStreet Open House

Fastenal Company Reports 2010 Third Quarter Earnings

WINONA, Minn., Oct. 12, 2010 (GLOBE NEWSWIRE) -- The Fastenal Company of Winona, MN (Nasdaq:FAST) reported the results of the quarter ended September 30, 2010. Except for per share information or as otherwise noted below, dollar amounts are in thousands.

Net sales, net earnings, and earnings per share were as follows for the periods ended September 30:

  Nine-month period Three-month period
  2010 2009 Change 2010 2009 Change
                 
Net sales $ 1,695,705 1,453,580 16.7% $ 603,750 489,339 23.4%
                 
Net earnings $ 200,195 139,821 43.2% $ 74,994 47,589 57.6%
                 
Basic and diluted earnings per share $ 1.36 0.94 44.7% $ 0.51 0.32 59.4%

During the first nine months of 2010, we opened 90 new stores (we opened 45 new stores in the same period of 2009). The 90 new stores represent an increase of 3.8% since December 31, 2009. (We had 2,369 stores on December 31, 2009.) There were 12,827 total employees as of September 30, 2010, an increase of 6.5% from the 12,045 total employees on December 31, 2009.

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