1/27/2012 1:47:00 PM
HEADLINES
OEM Sales Drive Fastenal Revenue
Fastener Co. reported sales grew 21.9% to $2.77 billion in 2012, with pre-tax earnings jumping 33.5% to $575.1 million and net earnings rising 34.9% to $357.9 million during the year.
Sales to manufacturers gained 20% in 2011, boosted by a strong finish in the final quarter.
Part of their success was attributed to the “ramp-up in our ability to install (vending) machines.
“In the third and fourth quarter of 2011, we installed 1,775 machines (5,642 versus 3,867) and 1,811 machines (7,453 versus 5,642), respectively, a dramatic increase over the 331 (1,515 versus 1,184) and 410 machines (1,925 versus 1,515) installed in the third and fourth quarter of 2010, respectively.”
The company opened 122 new stores last year — an increase of 4.9% since the end of 2010, while its workforce increased 14.2% to 15,168 employees. Web: fastenal.com ©2012 GlobalFastenerNews.com
Fastener Co. reported sales grew 21.9% to $2.77 billion in 2012, with pre-tax earnings jumping 33.5% to $575.1 million and net earnings rising 34.9% to $357.9 million during the year.
Sales to manufacturers gained 20% in 2011, boosted by a strong finish in the final quarter.
Part of their success was attributed to the “ramp-up in our ability to install (vending) machines,” the company noted.
“In the third and fourth quarter of 2011, we installed 1,775 machines (5,642 versus 3,867) and 1,811 machines (7,453 versus 5,642), respectively, a dramatic increase over the 331 (1,515 versus 1,184) and 410 machines (1,925 versus 1,515) installed in the third and fourth quarter of 2010, respectively.”
Fastener products as a percentage of sales totaled 45.8% at the end of 2011, down from 48% at the end of the previous year.
The company opened 122 new stores last year — an increase of 4.9% since the end of 2010, while its workforce increased 14.2% to 15,168 employees. Web: fastenal.com ©2012 GlobalFastenerNews.com
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