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Fastenal Company Reports 2010 Fourth Quarter And Annual Earnings

Store Size and Profitability – The store groups listed in the table below, when combined with our strategic account stores, represented approximately 88%, 87%, and 88% of our sales in the fourth quarter of 2010, 2009, and 2008, respectively.  Strategic account stores are stores that are focused on selling to a group of strategic account customers in a limited geographic market. Our remaining sales (approximately 12%, 13%, and 12%, respectively) relate to either: (1) our in-plant locations, (2) our direct Fastenal Cold Heading business (including our Holo-Krome business acquired in December 2009), or (3) our direct import business. Our average store had sales of $67,600, $58,100, and $70,200 per month in the fourth quarter of 2010, 2009, and 2008, respectively. This average amount was $71,600 per month in the first quarter of 2007 (the last completed quarter before we began the 'pathway to profit'). The average age, number of stores, and pre-tax earnings data by store size for the fourth quarter of 2010, 2009, and 2008, respectively, were as follows:

         
Sales per Month Average Age (Years) Number of Stores Percentage of Stores Pre-Tax Earnings Percentage
Three months ended December 31, 2010
         
$0 to $30,000 3.8 467 18.8% -13.2%
$30,001 to $60,000 6.8 967 38.8% 12.7%
$60,001 to $100,000 9.6 582 23.4% 21.9%
$100,001 to $150,000 12.1 279 11.2% 25.2%
Over $150,000 15.0 156 6.3% 26.8%
Strategic Account Store   39 1.6%  
Company Total   2,490 100.0% 18.7%
Three months ended December 31, 2009
         
$0 to $30,000 3.9 620 26.2% -16.2%
$30,001 to $60,000 6.8 931 39.3% 10.0%
$60,001 to $100,000 9.3 516 21.8% 20.0%
$100,001 to $150,000 13.0 176 7.4% 23.8%
Over $150,000 15.5 99 4.2% 25.0%
Strategic Account Store   27 1.1%  
Company Total   2,369 100.0% 15.0%
Three months ended December 31, 2008
         
$0 to $30,000 2.7 498 21.5% -23.9%
$30,001 to $60,000 5.3 797 34.5% 9.9%
$60,001 to $100,000 8.0 539 23.3% 20.9%
$100,001 to $150,000 10.2 286 12.4% 25.9%
Over $150,000 14.1 171 7.4% 27.4%
Strategic Account Store   20 0.9%  
Company Total   2,311 100.0% 18.3%
         

Note – Amounts may not foot due to rounding difference.

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