O’Reilly Automotive Releases Third Quarter Financial Report
O’Reilly Automotive, Inc., a leading retailer of Aftermarket Performance Parts and accessories in the United States, has announced its third quarter revenues that ended last September 30, 2007.
The resulted net income for said third quarter amounted to $53.1 million, which is a 10.9% increase from the $47.9 million net income of the same quarter period in 2006. Third quarter gross profit, on the other hand, totaled to $294 million, another relative increase as compared from last year’s $263 million. Sales for the said three months performed exceedingly well with a total of $662 million, wherein a 10.8% increase was achieved from last year’s sales of $597 million for the same period.
With regards to 2007’s first nine months, the company net income totaled to $153.4 million, an exceptional increase of 11.4% from the $137.7 million earnings for the same period of 2006. In terms of gross profit for the same period of January to September 2007, total results were worth $850 million, which is another increase rate worth 12.2% as compared to 2006’s nine-month profit of $758 million. Sales for said nine months was also a success, with a total equivalent of $1.92 billion, up by 11.2% from the $1.72 billion sales for the same period last year.
Greg Henslee, O’Reilly Automotive Co-President and Chief Executive Officer, is very satisfied with the company’s financial accomplishment: “We are very pleased with our strong performance in the third quarter as we continue to focus on building market share in both the professional and ‘do it yourself’ sides of our business. Team O’Reilly continues to offer the highest levels of customer service in our industry, which resulted in another quarter of record sales and profits, and we are looking forward to offering these services to customers in markets new to our Company as we continue our aggressive expansion.”
Ted Wise, the company’s Co-President and Chief Operating Officer, was also amenable for an interview. He has this to disclose: “We opened 43 new stores during the quarter bringing our net new store total to 134 for the year. Through the first three quarters our store openings were slightly behind our plan due to permitting and construction delays. However, we are confident that by the end of the fourth quarter we will meet our target of 190 new store openings for the year. Our dedication to providing the best service to the professional installer and do-it-yourself customer continues to be the first priority in our expansion efforts.”
For a more detailed presentation of the company’s financial reports, please visit:
http://www.tradingmarkets.com/.site/news/Stock%20News/734942/
Below is a brief company profile of Team O’Reilly, as provided in the press release statement:
O’Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional installer markets. Founded in 1957 by the O’Reilly family, the Company operated 1,774 stores in the states of Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, Wisconsin and Wyoming as of September 30, 2007.