Fastenal Q1 Sales Improve
April 10
00:00
2003
Fastenal Q1 Sales Improve
Jason Sandefur
Fastenal Co. reported a 9.9% jump in net sales to $235.84 million for the first quarter of 2003. Q1 net earnings rose 7.5% to $19 million. Operating income for Q1 rose 8.8% to $30.6 million.
Fastenal stated it opened 36 new stores during the quarter, bringing the total number of company stores to 1,205. The Winona, MN-based distributor of fasteners, tools and components had 4, 703 employees in the first quarter of 2003, down . 8% from the previous quarter.
In 2002 Fastenal opened 144 new stores. This year the company said it plans to open 150 to 185 new stores. Web: fastenal.com �2003 FastenerNews.com
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