BusinessFebruary 2, 1998
BUSINESS MEMO: FASTENAL EARNINGS
The Fastenal Co. reported net sales of $107,114,000 during the fourth quarter, up 38 percent from the $77.6 million during the same period in 1996. Net earnings grew from $7.9 million during the fourth quarter of 1996 to $10.3 million during the same period of 1997...
The Fastenal Co. reported net sales of $107,114,000 during the fourth quarter, up 38 percent from the $77.6 million during the same period in 1996. Net earnings grew from $7.9 million during the fourth quarter of 1996 to $10.3 million during the same period of 1997.
Net sales for the year was $397,992,000, an increase of 38 percent from the $287.7 million of 1996. Net earnings were $40.8 million, compared to $32.5 million in 1996. Earnings per share went to $1.08, up from the 86 cents in 1996.
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Fastenal, national distributor of threaded metal products and related construction supplies, is headquartered at Winona, Minn., and has a branch facility at 2228 Bloomfield Road.
Fastenal opened 39 new stores in the fourth quarter, bringing its number of stores to 644.
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