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Net Profit of Fastenal in Q1 Up 9%
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2013-04-26
U.S. industrial and building hardware distributor Fastenal Co (FAST) announced its financial report, showing 9% of net profit increase in Q1 due to the increase in gross profit margin. The net profit was increased to USD 0.109 billion (about 37 cents per share )compared to USD 0.1 billion recorded during the same peiod last year (about 34 cents per share). The revenue was 5% up to USD 0.806 billion lower than the expected USD 0.816 billion. Fastenal had 11 retail stores open in Q1 and reached 2,660 stores at the end of season. Moreover, it installed 4,352 new industrial automatic vending machines (25,447 stores in total). In the past year, the number of stores increased by 2% and the number of industrial automatic vending machines increased by 2.5 times.
