Fastenal 2002 Sales Up 10.7%; Earnings Up 7.7%
Fastenal 2002 Sales Up 10.7%; Earnings Up 7.7%
John Wolz
Fastenal Company announced net sales increased 10.7% to $905,438,000 for 2002 and net earnings rose 7.7% to $75,542,000.
Net sales for the fourth quarter of 2002 totaled $219,286,000, an increase of 10.7% and net earnings
increased 26.5% to $16,889,000.
Net earnings in 2002 include a $5.9 million gain on sale of the DIY Business.
During the fourth quarter of 2002, Fastenal opened 30 new sites. During 2002 Fastenal opened 144 new sites,
bringing the total number of sites to 1,169. There were 4,743 site employees as of December 31, 2002, an
increase of 11.3% from December 31, 2001.
Fastenal expects to open approximately 165 to 185 new stores in 2003. Web: Fastenal.com �2003 FastenerNews.com
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