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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
  2010 2009 2010 2009
Net sales 100.0% 100.0% 100.0% 100.0%
Gross profit 51.7% 51.3% 51.8% 50.0%
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%
Operating income 19.1% 15.5% 20.0% 15.6%
Interest income 0.0% 0.1% 0.0% 0.1%
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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