Fastenal Co. (FAST) 2007年年度报告「NASDAQ」.pdf

1、Profile of FastenalThis annual report,including the sections captioned“Presidents Letter to Shareholders,”“Managements Discussion&Analysis of Financial Condition&Results of Operations”and“Stock and Financial Data,”contains statements that are not historical in nature and that are intended to be,and

2、are hereby identified as,“forward-looking statements”as defined in the Private Securities Litigation Reform Act of 1995(the“Reform Act”),including statements regarding(1)the improvements in sales growth and return on investment expected to result from making separate decisions for each store regardi

3、ng the addition of inventory and sales personnel,(2)the outcome of our new long term growth strategy Pathway to Profit,including planned decreases in the rate of new store openings,planned additions to our outside sales personnel,the expected funding of such additions out of cost savings resulting f

4、rom the slowing of the rate of new store openings,the growth in average store sales expected to result from this strategy,our ability to capture leverage expected to result from this strategy(including expected decreases in the growth of support personnel and expected working capital efficiencies),a

5、nd our ability to achieve our goals regarding pretax earnings and return on investment,(3)the payment of dividends,(4)working capital goals and expected returns on total assets when working capital is appropriately managed,(5)capital expenditures,(6)growth in foreign operations,(7)the planned expans

6、ion of inventory selection at the Indiana distribution center and master stocking hub,(8)our ability to mitigate the effect of rising fuel prices,and(9)the funding of expansion plans.2007Winona,MN StoreFastenal was founded in 1967.As of December 31,2007,we operated 2,160 stores located in 50 states,