UPDATE: Fastenal Posts Downbeat Q4 Profit

Fastenal Co

reported a 1% rise in its fourth-quarter net income. Fastenal's quarterly earnings gained to $99.2 million, or $0.33 per share, from $98.7 million, or $0.33 per share, in the year-earlier period. Its revenue climbed 8% to $813.8 million from $757.2 million. However, analysts were expecting earnings of $0.34 per share on revenue of $814.3 million. For the year, Fastenal's profit surged to $448.6 million, or $1.51 per share, from a year-ago profit of $420.5 million, or $1.42 per share. Its annual revenue jumped 6% to $3.33 billion from $3.13 billion. Fastenal shares fell 2.92% to $46.80 in pre-market trading.