UPDATE: Fastenal (FAST) Misses Q1 EPS by 1c; Gross Margins Compress, Sales Growth Decelerates

(Updated - April 12, 2012 7:41 AM EDT)

Fastenal Co (Nasdaq: FAST) reported Q1 EPS of $0.34 (basic), $0.01 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $768.9 million versus the consensus estimate of $767.55 million.

UPDATE: Shares are up 1.8 percent early Thursday.

The Company reported sales growth rates of 21.3 percent in January, 20.0 percent in February, and 19.3 percent in March, a decelerating trend.

Gross profit percentage moved from 52.0 percent last year to 51.3 percent in the recent quarter.

Fastenall didn't buyback any stock in the quarter and has buyback ability on 1.8 million shares still outstanding.

For earnings history and earnings-related data on Fastenal Co (FAST) click here.

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