Fastenal Company(NASDAQ:FAST) posted earnings of $109 million, or 37 cents per share a rise by 9% in comparison to last year because of increase in gross margin both year-over-year and also compared with last quarter.
Shares dipped down by $1.17 or 2.30% to $49.71 in the morning session as revenue which jumped by 5% to $806.3 million fell short of Wall Street anticipation of $815.6 million.
The store count increased by 2% to 2,660 as of March 31 and industrial vending machines was up by two and a half times to 25,447.
After paying dividend of 21 cents in November and a special dividend of 50 cents in December the company lowered the dividend to reserve the cash.in the previous quarter it paid 10 cents dividend and in this quarter the board announced of raising its quarterly cash dividend to 20 cents.
Littelfuse, Inc. (NASDAQ:LFUS) shares were up by $2.20 or 3.48% to $65.34 in the morning session after the circuit protection products provider boosted its first-quarter revenue forecast to about $171 million up from its prior guidance of $158 million to $168 million.
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The first quarter earnings are expected to range between 63 cents to 66 cents per share, including $10.7 million charge to write off its remaining equity investment and loan balance for Shock Technologies.
The prior guidance of 75 cents to 88 cents per share did not include the charge.
Wall Street projects earnings of 83 cents per share excluding the charge on revenue of $164 million.
On April 30 the company is expected to post its first quarter results.
