6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
The first nine months of 2002 included an extraordinary gain on acquisition, net of tax, of $716,000. Net earnings before extraordinary gain increased from $57.9 million in the first nine months of 2002 to $64.2 million in the first nine months of 2003, an increase of 10.9%.
Net sales for the three-month period ended Sept. 30 totaled $258.3 milion, an increase of 8.5% over net sales of $238.1 million in the third quarter of 2002. The third quarter of 2002 included net sales of $5.7 million from the company's DIY Business, which was disposed of in October 2002. Adjusting for the DIY Business sale, growth in net sales of the remaining business was 11.2% from 2002 to 2003. Net earnings increased from $19.1 million in the third quarter of 2002 to $23.3 million in the third quarter of 2003, an increase of 21.7%.
During the first nine months and the third quarter of 2003, Fastenal opened 106 and 35 new sites, respectively. The 106 new sites year-to-date represent an increase of 9.1% more stores since Dec. 31, 2002. There were 4,703 site employees as of Sept. 30, 2003, a decrease of 0.8% from Dec. 31, 2002.