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    Fastenal looks good in second quarter

    July 13, 2010
    Fastenal reported second quarter profits that beat analyst expectations today. Earnings were up almost 60 percent, totalling $69.2 million compared to $43.5 million in the same quarter last year. Sales were up about 20 percent over last year's second ...

    Fastenal reported second quarter profits that beat analyst expectations today. Earnings were up almost 60 percent, totalling $69.2 million compared to $43.5 million in the same quarter last year. Sales were up about 20 percent over last year's second quarter, to $571.2 billion.

    The industrial supplies distributor said it opened 45 stores during the first six months of the year, giving it a total of 2,407 stores by the end of June. It plans to open 80 to 95 more new stores by the end of the year.

    Fastenal's earnings release