UPDATE 1-Fastenal Q4 profit beats Street
* Q4 EPS beats market estimates by a cent
* Q4 rev misses estimates by $7.8 mln
* Same-store sales growth slowed in last 3 months of 2008
Jan 20 (Reuters) - Nuts and bolts distributor Fastenal Co (FAST.O: Cotización) posted a 10 percent increase in fourth-quarter profit, beating Wall Street estimates marginally, even as its sales growth slowed during the last three months of 2008.
Fastenal same-store sales for stores open for more than two years grew by only about 8 percent in October, 2.3 percent in November and fell 3.9 percent in December, compared to a double-digit growth in each of the first nine months of 2008.
For the quarter ended Dec. 31, the company posted net income of about $62.5 million, or 42 cents a share, compared with $56.2 million, or 38 cents a share, a year ago.
Revenue grew 5 percent to $545 million.
Analysts on average, were expecting earnings of 41 cents a share, excluding items, on revenue of $552.8 million.
Shares of the company were up 11 cents at $33.26 in morning trade on Nasdaq. They touched a high of $34.95 earlier in the session.
For the alerts, please double click [ID:nWNAB1189] (Reporting by Biswarup Gooptu in Bangalore; Editing by Himani Sarkar)
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