Fastenal posts Q1 earnings, sales increase

Winona, Minn.-based Fastenal has posted first-quarter net earnings of $79.5 million, up 42% from $56.0 million in the same period of 2010. 

Net sales for the quarter ended March 31 totaled $640.6 million, up 23% from $520.8 million in the year-ago quarter.

The company opened 37 new stores during the quarter, compared with 29 new stores in the first quarter of 2010.