Fastenal Company Reports 2010 Third Quarter Earnings
Our goal under the 'pathway to profit' is to increase the sales of our average store to approximately $125,000 per month (see earlier discussion). This will shift the store mix emphasis from the first three categories ($0 to $30,000, $30,001 to $60,000, and $60,001 to $100,000) to the last three categories ($60,001 to $100,000, $100,001 to $150,000, and over $150,000), and we believe will allow us to leverage our fixed cost and increase our overall productivity.
Note – Dollar amounts in this section are presented in whole dollars, not thousands.
STATEMENT OF EARNINGS INFORMATION (percentage of net sales) for the periods ended September 30:
|Nine-month period||Three-month period|
|Operating and administrative expenses||32.6%||35.8%||31.8%||34.4%|
|Loss (gain) on sale of property and equipment||0.0%||-0.1%||0.0%||0.0%|
|Earnings before income taxes||19.1%||15.6%||20.0%||15.7%|
Note – Amounts may not foot due to rounding difference.
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