Fastenal Co. (Nasdaq:FAST), which sells industrial and construction supplies, reported a jump in quarterly earnings, helped by sales growth of 20 percent.
Net earnings were $100.19 million or $0.34 per share for the first quarter, compared with $79.55 million or $0.27 per share in the year-ago quarter.
Net sales rose to $768.9 million from $640.5 million.
Analysts, on average, expected earnings of $0.35 per share on revenue of $768.6 million.
Gross profit margin contracted to 51.3 percent from 52.0 percent in the same period last year, but improved from 51.2 percent in the prior quarter.
The Winona, Minnesota-based company provides fastener product line, including threaded fasteners such as bolts, nuts, screws, studs, and related washers that are used in manufactured products and building projects. As of December 31, 2011, it operated 2,585 stores.
The stock, which has been trading in the 52-week range between $29.14 and $55.05, ended Wednesday's regular trading at $49.63.