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Home » Fastenal 4Q Sales Down 12.5%.
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Fastenal 4Q Sales Down 12.5%.

By    MDM  Staff 
January 19, 2010
More about:  Building Materials/Construction,  Fastenal,  Fasteners,  Industrial
For 2009, Fastenal's sales fell 17.5%.
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The Fastenal Company (Nasdaq: FAST), Winona, MN, reported fourth quarter sales of $476.8 million, down 12.5% from fourth quarter 2008. Profit decreased 28.8% to $62.5 million.

For the year ended Dec. 31, 2009, sales totaled $1.93 billion, a decrease of 17.5% from 2008. Profit declined 34.1% to $184.4 million.

During 2009, Fastenal opened 69 new stores, compared to 161 new stores in 2008; 10 locations were closed. There were 12,045 total employees as of Dec. 31, 2009, a decrease of 11.7% from the prior year.

Sales to manufacturing customers – historically about 50% of sales – contracted 10.1% in the fourth quarter and 18.8% for the year versus the same periods in 2008. Non-residential construction business – historically 20% to 25% of sales – contracted 24.7% in the fourth quarter and 19.4% for the year. Government business grew 16% for the year.

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