Fastenal earnings up 57% in Q3
Winona, Minn.-based Fastenal reported third-quarter earnings of $74.9 million, up 57.6% from $47.5 million reported for the same period in 2009.
Sales for the quarter were $603.7 million, up 23.4% from $489.3 million as reported for the same period last year.
The company reported that it has opened 90 new locations during the first nine months of the year, compared with 45 for the same period last year. The company has increased its work force by 6.5%.
Circular of the Week
This week, Westminster, Mass.-based Aubuchon Hardware gets nautical with its “Set Sail for Fall Savings” sale. The maritime play on words aside, the eight-page circular features deals on wood pellets, thermostats and various stoves for managing the temperature in New England homes. Also prominent are chainsaws, rakes and pruning sheers for the falling foliage.
• Your choice of Honeywell thermostats or First Alert carbon dioxide detectors for $19.97; • 20% off Fiskars outdoor tools; and • Duraflame Electroheat electric oil filled radiator for $39.97.
The Skinny: Layaway for winter
Snowblowers are a high-ticket item anywhere, but in New England they’re also in high demand, thanks to the kind of snow accumulation that would shock many Americans. Conveniently placed on page eight, right next to a $750 snow blower, the circular points its customers to simple terms: 10% down, no service charge and nine months to pay it off.
LED International brings MagicBulb to U.S.
LED International is promoting what it describes as the world’s first rechargeable light bulb.
Just introduced to U.S. vendors, MagicBulb was developed in Norway. With a lifespan of more than 20,000 hours, it saves up to 90% of energy compared with other bulbs, according to LED International. It can be used in any light fixture, and it’s also portable. Once battery-charged, it can shine up to three hours.
The price point of MagicBulbs ranges anywhere from $25 to $60.
“MagicBulb is an award-winning, patented LED light bulb that has taken off overseas and is now making its grand entrance into the United States market,” says Ron Yiu, marketing director for LED International U.S., a division of the Norway-based LED Electronics International AS that developed MagicBulb. “The response has been so overwhelming since we introduced the MagicBulb in Europe and Asia in late 2009.”
The product has garnered a number of awards, including a Gold Medal from The 19th China National Invention Exhibition, September 2010; and IWIS Medal at the International Warsaw Invention Show 2009.