Originally published at www.seclive.com
Fastenal Company (NASDAQ:FAST) announced its financial results for the first quarter of fiscal year 2014, reporting a rise in both earnings and sales. The company reported an 8.7% improvement in revenue to $876.5M, beating analyst expectations of $870M, while gross margin tightened from 52.3% to 51.2%. For the quarter, Fastenal posted a profit of $111.9M and $0.38 per share, up from $109.0M and $0.37 per share in the year-ago quarter, meeting analyst expectations. Fastenal was pleased with its results in both revenue and earnings, despite sluggish demand and severe winter weather impacting consumer spending. The company also announced a quarterly dividend of $0.25 per share, payable on May 23 to shareholders of record as of April 25.
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