UPDATE: Fastenal Q3 Profit Up 13%

Fastenal Co

reported a 13% rise in its third-quarter net income. Fastenal's quarterly profit surged to $109.3 million, or $0.37 per share, from $96.8 million, or $0.33 per share, in the year-earlier period. Its revenue climbed 10% to $802.6 million. However, analysts were expecting earnings of $0.37 per share on revenue of $805 million. Fastenal's gross margin declined to 51.6% from 51.9%. Fastenal shares closed at $42.32 yesterday.