(Source: Datamonitor)
O'Reilly Automotive, a US-based specialty retailer of automotive aftermarket parts, has reported a net income of $42.7 million in the fourth quarter of 2008, up 5.2%, compared to $40.6 million in the same period of 2007.
In the fourth quarter of 2008, sales increased 84% to $1.1 billion, compared to $604 million in the fourth quarter of 2007. Gross profit increased to $515 million or 46.2% of sales from $270 million or 44.7% of sales in the fourth quarter of 2007, representing an increase of 91%.
For the full year 2008, sales increased $1.05 billion or 42% to $3.58 billion from $2.52 billion in 2007. Gross profit in 2008 increased to $1.63 billion or 45.5% of sales from $1.12 billion or 44.4% of sales in 2007, representing an increase of 45%. Net income totaled $186.2 million, down 4%, compared to $194 million in 2007.
Greg Henslee, CEO and co-president of O'Reilly Automotive, said: "We are very pleased to report strong sales results amid these very challenging economic times. Our consolidated comparable store sales growth during the fourth quarter was a strong 4%."
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