O’Reilly Auto quarterly sales climb 14.3%

In its earnings release Tuesday, the company announced first-quarter net income of $48.4 million, up 19.3 percent from $40.6 million a year ago. Diluted earnings per share rose 20 percent to 42 cents, on 115.5 million shares, from 35 cents, on 114.6 million shares, in first-quarter 2006.

Sales for the quarter were $613 million, up 14.3 percent from $537 million a year ago. Gross profit was $269 million, up 15.4 percent from $233 million last year.

Comparable store sales for stores open for at least a year increased 6.8 percent for the quarter and 3.8 percent for 2006.

With its 47 new stores, O’Reilly has 1,687 locations, and the company is on track to open between 190 and 195 additional stores this year.

“Our aggressive expansion efforts, dual market strategy and commitment to providing the best customer service in the industry are moving us toward achieving our goal of $4 billion in sales by 2010,” said Chief Operating Officer and Co-President Ted Wise in a news release. The company surpassed its previous sales goal of $2 billion in early 2006.

Company shares (Nasdaq: ORLY) closed Wednesday at $36.92, compared to a 52-week range of $27.49 to $38.84.[[In-content Ad]]