Fastenal Company Reports 2010 Fourth Quarter And Annual Earnings

WINONA, Minn., Jan. 18, 2011 (GLOBE NEWSWIRE) -- The Fastenal Company of Winona, MN (Nasdaq:FAST) reported the results of the quarter and year ended December 31, 2010. Except for per share information, or as otherwise noted below, dollar amounts are in thousands.

Net sales, pre-tax earnings, net earnings, and earnings per share were as follows for the periods ended December 31:

	Twelve-month Period			Three-month Period
	2010	2009	Change	2010	2009	Change
Net sales	$2,269,471	1,930,330	17.6%	$573,766	476,750	20.3%
Pre-tax earnings	$430,640	297,490	44.8%	$107,144	71,419	50.0%
Net earnings	$265,356	184,357	43.9%	$65,161	44,536	46.3%
Basic and diluted earnings per share	$1.80	1.24	45.2%	$0.44	0.30	46.7%

During 2010, we opened 127 new stores (we opened 69 new stores in the same period of 2009). The 127 new stores represent an increase of 5.4% since December 31, 2009. (We had 2,369 stores on December 31, 2009.) Since June 30, 2010, we opened 82 stores (or an annualized run rate of 6.9%). There were 13,285 total employees as of December 31, 2010, an increase of 10.3% from the 12,045 total employees on December 31, 2009.