Industrial products supplier Fastenal reported fourth-quarter net sales of $813.8 million, up 7.5% from $757.2 million in the same quarter last year. But the company didn't grow as fast as it anticipated.
The Winona, Minn.-based company reported net earnings of $99.2 million, up 0.5% from the previous year's quarter.
Second-quarter sales for Winona, Minn.-based Fastenal increased to $804.9 million, up 14.7% from the same quarter in 2011.
Net earnings for the company increased 19.3% to $112.3 million.
“The growth in the first three months of 2012 generally continued the relative strength we saw in 2011 and in most of 2010,” the company stated. However, the rate of daily sales growth slowed in the April to June 2012 time frame.
It’s called a 20-20 double-double, and among business metrics it’s a grand slam multiplied by a slam dunk. The definition is sales and earnings growth of at least 20% in the same quarter.
Not only did Winona, Minn.-based Fastenal achieve a 20-20 in the first quarter — $769 million in sales, up 20.0%, and $100 million in net earnings, up 26.0% — but the company has scored a 20-20 double-double for eight consecutive quarters.
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.