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Vending 'Explodes' as a Service

Fastenal Second-Quarter Sales Up 14.7%

The Fastenal Company of Winona, MN, (Nasdaq: FAST), No. 7 on MDM’s list of the top 40 industrial distributors, reported sales for the second quarter ended June 30, 2012, of $804.8 million, a 14.7 percent increase over the same period a year ago. Profit increased 19.3 percent to $112.3 million.

For the first 6 months, sales were $1.5 billion, a 17.2 percent increase year-over-year. Profit increased 22.4 percent to $212.5 million.

During the first six months of 2012, Fastenal installed 5,583 new FAST SolutionsSM industrial vending machines, an increase of 74.9 percent since December 2011. On June 30, 2012, Fastenal operated 13,036 FAST SolutionsSM machines. See MDM’s article Vending ‘Explodes’ as a Service for more information on the growing distribution trend.

During the first six months of 2012, Fastenal opened 53 new stores, an increase of 2.1 percent from December 2011. On June 30, 2012, the distributor had 15,578 employees, an increase of 2.7 percent from December 2011.

More details on Fastenal’s second quarter can be found here.

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