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Fastenal 3Q Sales Up 20.4%

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.

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