Fastenal’s 1Q sales rise 16 percent

Industrial Distribution staff -- Industrial Distribution, 4/11/2008 7:14:00 AM

First-quarter sales for the Fastenal Co. rose 15.8 percent to $566.2 million, compared with $489.2 million during the same period last year.

Net earnings for the Winona, Minn.-based fastener and MRO distributor reached $68.1 million, up 26 percent compared with $54 million during the first quarter of fiscal 2007.

Fastenal said it opened 53 new stores during the quarter, compared with 73 during the same period in 2007, and employed 12,535 people as of March 31, a 15.3 percent increase compared with March 31, 2007.

In a separate release, the company said its March sales rose 11.5 percent to $193.8 million, compared with $173.7 million during march 2007.

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