O'Reilly Automotive Inc. saw sales jump 78 percent in the second quarter for an overall profit of $86 million, the Springfield-based company reported Wednesday evening.
Sales for the quarter were $1.25 billion, compared to $704 million in the same period last year. Consolidated comparable store sales increased 4.8 percent.
Gross profit was $604 million, nearly double the $317 million reported a year ago.
Quarterly selling, general and administrative expenses, however, also increased 98 percent to $454 million, compared to $229 million last year. Charges related to O'Reilly's July 2008 acquisition of CSK Auto Corp. totaled $1.1 million.
Net income for the quarter was $86 million, a 53 percent increase from $56 million in second-quarter 2008. Earnings per share were 62 cents on 137.5 million shares, up from 48 cents on 116.5 million shares a year ago.
The auto-parts retailer opened 50 new stores during the quarter, in addition to 58 new stores in the first quarter. A new distribution center in Greensboro, N.C., also opened May 11.
Officials expect to have between 53 cents and 57 cents in earnings per share in the third quarter and between $2.06 and $2.10 per share for the year.
Shares (Nasdaq: ORLY) closed Wednesday at $40.55 and were trading at $41.99 as of 10 a.m. The 52-week range is $20 to $42.[[In-content Ad]]
