Fastenal shows strong sales and earnings growth

Winona, Minn.-based Fastenal has reported second-quarter net earnings of $94.1 million, up 36% from $69.2 million in the second quarter of 2010.

Net sales for the quarter ended June 30 totaled $701.7 million, up 23% from $571.2 million in the year-ago period.

For the first six months of 2011, net earnings were $173.7 million, up 39% from $125.2 in the first six months of 2010. Net sales in this period totaled $1.34 billion, up 23% from $1.09 billion in the same period last year.

During the first six months of 2011, Fastenal opened 75 new stores, compared with 45 new stores in the same period of 2010.