Fastenal Sales & Profit Soar

Jason Sandefur

Despite rising fuel costs, Fastenal Inc. reported a 27.4% increase in profit to $166.8 million during 2005. Sales rose 23% to $1.52 billion, while operating income improved 29.3% to $267.9 million during the year.
After a slight decline during the first quarter, fuel costs rose 17.3% during the final three quarters, averaging $1,759 per vehicle each month during the fourth quarter.
Fastenal opened 222 new stores in 2005, bringing its total to 1,755 stores by year’s end. The fastener giant predicts opening as many as 316 new stores in 2006.
During the fourth quarter of 2005 sales grew 20.6% to $384.04 million, while operating income rose 24.6% to $62.8 million. Net earnings increased 17.7% to $39.3 million during Q4. Web: fastenal.com �2006 FastenerNews.com