O'Reilly Automotive keeps up positive streak

SPRINGFIELD, Mo. O’Reilly Automotive today reported that sales for the fourth quarter were $604 million, up 8.2% from $558 million for the same period a year ago. Net income for the fourth quarter totaled $40.6 million, up 0.6% from $40.4 million for the same period in 2006. Diluted earnings per common share for the fourth quarter ended were even at 35 cents on 116.3 million shares versus 35 cents a year ago on 115.4 million shares.

For the year ended Dec. 31, sales increased $239 million, or 10.5%, to $2.52 billion from $2.28 billion for the year ended Dec. 31, 2006. Net income for the year ended Dec. 31, 2007, totaled $194 million, up 8.9% from $178.1 million for the year ended Dec. 31, 2006. Diluted earnings per common share for the year ended Dec. 31, 2007, increased 7.7% to $1.67 on 116.1 million shares versus $1.55 a year ago on 115.1 million shares.

Comparable-store sales increased 2.1% and 3.7% for the fourth quarter and year ended Dec. 31, 2007. According to the company, this represents 59 quarters of positive comparable-store sales results since O’Reilly became a public company in April 1993.

“We would like to thank every member of Team O’Reilly for their hard work and dedication in 2007. We generated an 11.3% increase in gross profit through our continued focus on providing unparalleled service to all of our customers,” stated ceo and co-president Greg Henslee. “In spite of a very challenging economic environment in 2007, we were able to increase net income by 8.9%. Our focus remains on customer service and gaining market share in new and existing markets. We look forward to all of the opportunities 2008 will present.”