O'Reilly announces operating margin of 11 percent

O'Reilly Automotive Inc. July 25 announced record revenues and earnings for the second quarter and first half of 2000, representing the 26th consecutive quarter of record revenues and earnings for O'Reilly since becoming a public company in April 1993, according to an O'Reilly press release.

For the three months ended June 30, net income totaled $14.4 million, up 22 percent from $11.8 million for the same period a year ago. Earnings per common share for the quarter increased 21.7 percent to 28 cents on 51.5 million shares vs. 23 cents a year ago on 51.1 million shares. Product sales for the second quarter totaled $226.4 million, up 15.4 percent from $196.1 million in the previous year.

Gross profits for the second quarter of 2000 increased to $97.3 million from $81.8 million for the second quarter of the prior year, representing an increase of 18.9 percent.

Net income for the first six months of 2000 totaled $25.9 million, up 27.2 percent from $20.4 million for the same period a year ago. Earnings per common share for the first half of 2000 increased 16.3 percent to 50 cents on 51.4 million shares vs. 43 cents a year ago on 47.4 million shares. Product sales for the first half of 2000 totaled $422.1 million, up 16.4 percent from $362.5 million for the first half of the previous year.

Gross profit for the first half of 2000 increased to $182 million from $152.8 million for the first half of the prior year, representing an increase of 19.1 percent.

"Achieving this level of performance has been our goal since our acquisition of Hi/Lo Auto Supply and is the result of efforts by all team members," said David O'Reilly, co-chairman of the board and chief executive officer, in the release.