O'Reilly Automotive Reports Fourth Quarter and Annual Earnings.(Brief Article)

O'Reilly Automotive, Inc. reported record revenues and earnings for the fourth quarter and year ended December 31, 2002, representing 10 consecutive years of record revenues and earnings for O'Reilly since becoming a public company in April 1993.

Net income for the year ended December 31, 2002, totaled $82.0 million, up 23.6 percent from $66.4 million for the same period a year ago. Diluted earnings per common share for the year ended December 31, 2002, increased 21.4 percent to $1.53 on 53.7 million shares versus $1.26 a year ago on 52.8 million shares.

Product sales for the year ended December 31, 2002, totaled $1.31 billion, up 20.2 percent from $1.09 billion for the year ending December 31, 2001. Gross profit for the year ended December 31, 2002, increased to $553.4 million (or 42.2 percent of product sales) from $467.8 million (of 42.8 percent of product sales) for the year ended December 31, 2001, representing an increase of 18.3 percent.

Net income for the fourth quarter ended December 31, 2002, totaled $18.7 million, up 17.6 percent from $15.9 million for the same period in 2001. Diluted earnings per common share for the fourth quarter of 2002 increased 16.7 percent to $0.35 on 53.7 million shares compared to $0.30 for the fourth quarter of 2001 on 53.4 million shares.

Product sales for the three months ended December 31, 2002, totaled $314.2 million, up 12.9 percent from $278.4 million for the same period a year ago. Gross profit for the fourth quarter of 2002 increased to $131.0 million (or 41.7 percent of product sales) from $122.3 million (or 43.9 percent of product sales) for the fourth quarter of 2001, representing an increase of 7.1 percent.

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