Fastenal sales rise 14.7%
Fastenal Company said its second-quarter sales rose 14.7% to $804.8 million.
Net earnings for the period were $112.3 million, or 38 cents per share, a 19% increase compared to $94.1 million, or 32 cents per share, last year.
Sales for the first six months of the year were $1.5 billion, 17.2% higher than the same period last year. Net earnings for the six-month period were $212.5 million, or 72 cents per share, compared to $173.6 million, or 59 cents per share, last year.
The company said that its industrial vending business, which it calls FAST Solutions, is expanding. "We believe industrial vending is the next logical chapter in the Fastenal story, we also believe it has the potential to be transformative to industrial distribution, and that we have a 'first mover' advantage," according to a company statement.
Fastenal increased its installed machine base by 3,238 machines (13,036 versus 9,798) in the second quarter of 2012.
During the first six months of 2012, Fastenal opened 53 new stores, an increase of 2.1% since December 2011.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
