Fastenal Sales & Profit Grow Despite Economy

Jason Sandefur

Fastenal Co. reported sales, including fasteners, rose 5% to $544.9 million during the fourth quarter of 2008, while net earnings grew 11% to $62.5 million.

Full sales during 2008 climbed 13.5% to $2.34 billion, with net earnings jumping 20% to $279 million.

During 2008, Fastenal opened 161 new stores, the same number as the prior year. The company’s workforce gained 13.5% to 13,634 employees during the year.

“It was a good year — good for the first three quarters — but then it slowed down hard,” CEO Will Oberton told investors. “We don’t know where bottom is at this point.” Web: fastenal.com �2009 FastenerNews.com