Fastenal reports sales and earnings gains
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Winona, Minn.-based Fastenal posted fourth-quarter net sales of $757.2 million, up 8.5% from the same three months in the prior year. Earnings for the quarter were up 12.9% to $98.72 million.
“The sales growth was consistent throughout our business,” said Willard D. Oberton, CEO. He added that the pace of growth has slowed somewhat.
For the full year of 2102, the company’s sales increased 13.3% to $3.13 billion. Net earnings for the year were $420.5 million, up 17.5% from the 2011 period.
The company opened 80 new stores in 2012, increasing its footprint to 2,652 locations as of Dec. 31.
Sea Gull flexes its engineering muscle at IBS
Chicago-based Sea Gull Lighting, maker of decorative and functional lighting, will unveil more than 250 new decorative products during the International Builders’ Show Jan. 22-24.
“We’ve invested a great deal in the company and the brand during the last year,” said new Sea Gull Lighting president Matt Vollmer. “Part of the investment has been a comprehensive and effective overhaul in our product development process.”
Vollmer said the company has a larger pool of engineers and a new VP engineering.
Sea Gull also expanded the number of its Energy Star-qualified products to 582, he said.