Originally published at www.seclive.com
Fastenal Company (NASDAQ:FAST) announced its financial results for the fourth fiscal quarter of 2013, reporting profit increases from a year ago. The fastener, tool, and industrial supplier posted profits of $99.2M and $0.33 per share, while year-ago earnings were $98.7M and the same earnings per share of $0.33. Sales increased 7.5% from the year-ago quarter to $813.8M, beating analyst predictions of $813M. The company's gross margin tightened due to a 9.8% increase in product costs, bringing it to 50.6% from 51.6%. Fastenal's Board of Directors also authorized a $0.25 per share dividend to shareholders of record as of January 31, paid on February 28. The company has paid dividends since 1991 and has incrementally increased the frequency of dividend payments from annual, to semi-annual, to quarterly.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.