Fastenal looks good in second quarter

Fastenal reported second quarter profits that beat analyst expectations today. Earnings were up almost 60 percent, totalling $69.2 million compared to $43.5 million in the same quarter last year. Sales were up about 20 percent over last year's second quarter, to $571.2 billion.

The industrial supplies distributor said it opened 45 stores during the first six months of the year, giving it a total of 2,407 stores by the end of June. It plans to open 80 to 95 more new stores by the end of the year.

Fastenal's earnings release