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Fastenal 3Q Sales Up 20.4%
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2011-10-25
The Fastenal Company (Nasdaq: FAST), Winona, MN, No. 7 on the list of top industrial distributors, reported sales were $726.7 million in the third quarter, up 20.4 percent from the same period a year ago. Profit increased 29.1 percent to $96.8 million.
For the first nine months, sales increased 22 percent to $2.1 billion, while profit increased 35.1 percent to $270.5 million. Fastenal opened 94 new stores during the nine-month period and added 1,642 employees.
Growth in 2010 and 2011 was more pronounced for Fastenal's industrial production business and less pronounced in the maintenance portion of its manufacturing business. (Source: Modern Distribution Management)
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