UPDATE: Fastenal Q2 Profit Rises 7.7%

Fastenal Co

reported a 7.7% rise in its second-quarter earnings. Fastenal's quarterly profit surged to $121 million, or $0.41 per share, from $112.3 million, or $0.38 per share, in the year-ago period. Its sales increased 5.3% to $847.6 million. However, analysts were expecting earnings of $0.41 per share on revenue of $857 million. Fastenal's gross margin widened to 52.2% from 51.6%. Fastenal shares closed at $47.10 yesterday.