Fastenal Sales Up 22% in 2011

The Fastenal Company reported sales for 2011 of USD2.8 billion, up 21.9 percent over sales in 2010. Profit increased 34.9 percent to USD357.9 million.

For the fourth quarter, sales were up 21.6 percent to USD697.8 million. Profit increased 34.2 percent to USD87.5 million.

Daily sales to manufacturing customers – approximately 50 percent of Fastenal's business – grew 20 percent in 2011. Daily sales to non-residential construction customers – historically 20 to 25 percent of business – grew 17.1 percent for the year.

In 2011, Fastenal opened 122 new stores; the company opened 127 new stores in the same period of 2010. At year end, Fastenal had 2,585 stores. (source: Modern Distribution Management)