Fastenal sales up nearly 9 percent
Fastenal Company reported net sales of $953.3 million were 8.8 percent higher than the $876.5 million reported in the same quarter of 2014.
Net earnings of $127.6 million, or 43 cents per share, increased 14 percent from earnings of $111.9 million, or 38 cents, in the same period last year.
"The first quarter of 2015 was hit hard by a slowdown in our business with customers connected to the oil and gas industry. This connection includes direct industry participants as well as those with a geographic connection," according to a company statement.
Fastenal also reported sales results for the month of March were $341.6 million, up 10.6 percent from $308.8 million in March 2014. Daily sales of $15.5 million increased by 5.6 percent from $14.7 million a year ago. Sales to manufacturing customers increased by 3.9 percent during the month, while sales to non-residential construction customers were up by 2.7 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
