Fastenal Company’s (NASDAQ:FAST) reported on Thursday that net income in the second-quarter moved up 19% as it opened more stores, but its revenue performance moved down short of analysts’ forecasts. Shares of the corporation fell in premarket trading.
Fastenal announced on Thursday that it made $112.3 million or 38 cents a share in earnings for the quarter finished June 30. That’s high from $94.1 million or 32 cents a share in the same period previous year.
On average FactSet analysts anticipated earnings of 37 cents a share. In May 2011, the per share figures reflects a 2 for 1 stock split.
Fastenal, which sells nuts, bolts and other fasteners, reported that revenue moved up 15% to $804.9 million, from $701.7 million previous year. That was lower than Wall Street’s average forecasts of $807.7 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Lawson Products, Inc. (NASDAQ:LAWS) fell -3.00% to settle at $9.69, DXP Enterprises, Inc. (NASDAQ:DXPE) moved up +3.29% to end at $41.18 while Anixter International Inc. (NYSE:AXE) jumped +0.19% to finish on Thursday at $52.69.
Fastenal Company (NASDAQ:FAST) last session volume of 4.99 million shares was surprisingly higher than its average volume of 2.41 million shares. The stock after opening at $39.77 hit high price of $42.70 and then closed at $42.31 by scoring +6.28%.
The liquidity measure in recent quarter results of the company was recorded 5.71 as current ratio and on the other side the debt to equity ratio was 0.00 and long-term debt to equity ratio also remained 0.00. The Company had total cash at hand $226.07 million and a book value per share as $5.20 in the most recent quarter.
The stock price volatility was 3.49% for a week and 2.77% for a month as well as price volatility’s Average True Range for 14 days was 1.31 and its beta remained 0.95.
FAST generated revenue of 2.90 billion in the following twelve months and earned $378.58 million. The Company showed a positive +13.08% in the net profit margin and as well as in its operating margin which remained 20.97%. Company’s annual sales growth for the past five year was 8.87%.
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