Fastenal reports 20% gain in sales
The 2,611-location retailer and distributor of industrial supplies and specialty tools reported strong gains in sales and earnings for the quarter ended March 31.
Net sales increased 20.0% to $768.9 million, compared with $640.6 million in the same quarter of 2011. Net earnings increased 26.0% to $100.2 million, up from $79.5 million in the first quarter last year.
The company, whose motto is “Growth through customer service,” said in its release that growth in the first quarter generally continues the trend of relative strength the company saw in 2011 and most of 2010.
The company saw rapid growth in its FAST Solutions effort, or industrial vending. Fastenal increased its installed machine base by 2,345 machines in the first quarter, bringing the number to 9,978.
“We believe our FAST Solutions have the potential to be transformative to industrial distribution,” the company said in its release. The vending machines distribute high turnover construction products on-site at factories or other work environments.
During the first three months of 2012, Fastenal opened 28 new stores.
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Simpson reinforces ties with Habitat for Humanity
Simpson Strong-Tie is renewing its partnership with Habitat for the sixth straight year bringing the company’s overall donation to $1.5 million.
"Simpson Strong-Tie is excited to have reached the $1.5 million donation mark,” said Terry Kingsfather, president of Simpson Strong-Tie. “Our employees are very proud to support Habitat and to work alongside people who truly want to build and live in safe, strong, affordable homes. Habitat provides a valuable service to our community and we are honored to be a part of it."
Simpson Strong-Tie began its partnership with Habitat for Humanity International in 2007, annually providing $250,000 in cash and product donations, including the structural framing hardware (connectors and fasteners) and reinforced shear walls for new home construction. Simpson Strong-Tie has built homes with Habitat in the United States and abroad, supported Habitat’s Jimmy & Rosalynn Carter Work Projects, and responded to communities affected by natural disasters including along the U.S. Gulf Coast Region and Haiti.
“The growing support provided by faithful partners like Simpson Strong-Tie enables us to help more families around the world in need of adequate shelter,” said Jonathan Reckford, CEO of Habitat for Humanity International.
Bona US introduces spot cleaner
Aurora, Colo.-based Bona US, the hardwood-floor-care company, launched Bona Hardwood Floor Spot Cleaner designed to handle tough messes made by pets.
“Leaving pet soils on floors for an extended period of time may damage the finish of hardwood floors,” said Chad Nordhagen, director of marketing for Bona US. “Our innovative research team developed Bona Hardwood Floor Sot Cleaner to address this issue.”
The formula breaks up messes to dissolve and safely lift soils from the floor to minimize the potential of staining. The product is also safe for use around family and pets.
Last month, Bona US became the official Hardwood Floor Care Partner of the National Basketball Association.
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