Fastenal

(FAST) - Get Report

, a seller of industrial and construction supplies, said its first-quarter earnings rose 29.2% from a year ago as sales increased sharply.

The company earned $47.8 million, or 32 cents a share, in the quarter, compared with $37 million, or 24 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 31 cents a share in the most recent quarter.

First-quarter revenue rose 22% to $431.7 million. Analysts were expecting revenue of $433.7 million.

The Winona, Minn., company expects to open about 228 to 316 new stores in 2006. Shares of Fastenal were down 46 cents, or 1%, at $46.

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