Fastenal Fiscal Third Quarter Sales Up 10%

The installation of 3,977 new vending machines contributed to growth.

The Fastenal Company of Winona, MN, (Nasdaq: FAST), No. 7 on MDM’s list of the top 40 industrial distributors, reported sales for the third quarter ended Sept. 30, 2012, of $802.6 million, a 10.4 percent increase over the same period a year ago. Profit increased 12.9 percent to $109.3 million.

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For the first nine months, sales were $2.38 billion, a 14.9 percent improvement year-over-year. Profit jumped 19 percent to $321.8 million.

During the first nine months of 2012, Fastenal opened 73 new stores, bringing the total store count to 2,650. Employee count rose 1.7 percent from December 2011 levels, to 15,431.

 At the end of the third quarter, Fastenal operated 17,013 FAST Solutions industrial vending machines. The company increased its installed machine base by 3,977 machines in the third quarter. During the first nine months, Fastenal installed 9,560 new machines, an increase of 128.3 percent since December 2011.

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