Fastenal revenues rise 20 percent
Fastenal reported second-quarter net income of $69.2 million, or 47 cents a share, compared with $43.5 million, or 29 cents a share, a year ago.
Revenue rose about 20 percent to $571.2 million. Sales to manufacturing customers grew approximately 29.8% in the quarter, while sales to non-residential construction customers grew 0.5%.
Non-residential construction business enjoyed nominal growth in both May and June 2010.
During the first six months of 2010, Fastenal opened 45 new stores, an increase of 1.9% since the end of 2009. There were 12,248 total employees as of June 30, an increase of 1.7% from Dec. 31, 2009.
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.
