Springfield, MO, October 29, 2008 — O’Reilly Automotive, Inc. (“O’Reilly” or “the Company”) (Nasdaq: ORLY) today announced revenues and earnings for the third quarter ended September 30, 2008.
Sales for the three months ended September 30, 2008, totaled $1.11 billion, up 68% from $0.66 billion for the same period a year ago. Gross profit for the third quarter of 2008 increased to $507 million (or 45.6% of sales) from $294 million (or 44.4% of sales) for the third quarter of 2007, representing an increase of 73%. Selling, General and Administrative expenses increased to $415 million (or 37.3% of sales) for the third quarter of 2008 from $211 million (or 31.9% of sales) for the third quarter of 2007, representing an increase of 97%. Net income for the third quarter ended September 30, 2008, totaled $41.4 million, down 22% from $53.1 million for the same period in 2007. Diluted earnings per common share for the third quarter of 2008 decreased 33% to $0.31 on 133.1 million shares compared to $0.46 for the third quarter of 2007 on 116.3 million shares.