O’Reilly Auto reports 11% climb in quarterly sales

The Springfield retailer reported net income of $53.1 million, up 10.9 percent from $47.9 million in third-quarter 2006. Diluted earnings per share were 46 cents on 116.3 million shares, compared to 42 cents on 115 million shares in the same period last year.

Sales for the quarter were $662 million, a 10.8 percent increase from $597 million a year ago.

Gross profit increased to $294 million from $263 million last year, while operating, selling, general and administrative expenses increased to $211 million from $188 million last year.

Year-to-date net income was $153.4 million, up 11.4 percent from $137.7 million a year ago, and diluted earnings per share for the year to date were $1.32, compared to $1.20 a year ago.

During the quarter, O’Reilly opened 43 new stores, bringing the new store total for the year to 134. As of Sept. 30, the company operated 1,774 stores in 26 states.

“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,” CEO and Co-President Greg Henslee said in a news release.

Company shares (Nasdaq: ORLY) closed Tuesday at $33.22 and were trading at $33.35 as of 9 a.m. The 52-week range is $30.92 to $38.84.