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FASTENAL COMPANY REPORTS FIRST QUARTER EARNINGS

 WINONA, Minn., April 14 /PRNewswire/ -- The Fastenal Company (NASDAQ: FAST) of Winona, reported the results of the first quarter ended March 31, 1993.
 Net sales for the quarter were $23,404,000, a gain of 28.4 percent over the $18,224,000 of the first quarter of 1992. Earnings per share increased from $.09 to $.12 for the comparable periods.
 During the quarter, Fastenal opened 11 new stores, bringing the total number of stores in operation to 211. No stores were closed.
 On April 1, 1993, Fastenal opened the first 2 FastTool stores. FastTool sells hand, power, and specialty tools, and also safety supplies. FastTool has its own marketing personnel and repair facilities, and are located adjacent to existing Fastenal stores.
 SUMMARY OF EARNINGS
 (Unaudited)
 1993 1992
 Net sales $23,404,000 $18,224,000
 Cost of sales 10,947,000 8,575,000
 Gross profit 12,457,000 9,649,000
 Operating and administrative
 expenses 8,869,000 6,900,000
 Operating income 3,588,000 2,749,000
 Other income (expense)
 Interest income 66,000 76,000
 Gain of disposal of equipment -- 35,000
 Total other income
 (expense), net 66,000 111,000
 Earnings before income tax 3,654,000 2,860,000
 Income tax expense 1,442,000 1,138,000
 Net earnings $2,212,000 $1,722,000
 Earnings per share $.12 $.09
 Weighted average shares
 outstanding 18,969,344 18,969,344
 -0- 4/14/93
 /CONTACT: Stephen M. Slaggie, secretary and shareholder relations, 507-454-5374/
 (FAST)


CO: Fastenal Company ST: Minnesota IN: REA SU: ERN

AL -- MN004 -- 5561 04/14/93 09:30 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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