O’Reilly earnings rise 8.4% in 2006

Company sales increased $238 million to $2.28 billion for the year, including a 3.3 percent increase in same-store sales.

Net income for the year totaled $178.1 million, up 8.4 percent from the $164.3 million the company posted in 2005. Diluted earnings per share increased 6.9 percent to $1.55 versus $1.45 a year ago.

For the fourth quarter, sales totaled $558 million, up 8.4 percent from the same period in 2005. Net income totaled $40.4 million, up 2.1 percent, and diluted earnings per share were 35 cents, unchanged from a year earlier.

Comparable store sales for stores open at least one year increased 2.1 percent and 3.3 percent for the fourth quarter and the year, respectively.

“Through a combination of relentless attention to every expense detail and our category management efforts … we were able to produce record operating margins in the midst of very difficult economic conditions,” CEO and Co-President Greg Henslee said in a news release.

O’Reilly shares (Nasdaq: ORLY) closed Tuesday at $33.17, compared to a 52-week range of $27.49 to $38.30. Shares were up 56 cents, or 1.69 percent, to $33.73 at 10 a.m.