SPRINGFIELD, MO -- O’Reilly Automotive has announced record revenues and earnings for the first quarter ended March 31. The company said this marks 54 consecutive quarters of record revenues, earnings and comparable store sales increases for O’Reilly since becoming a public company in April 1993.

Net income for the first quarter totaled $48.4 million, up 19.3 percent from $40.6 million for the same period in 2006. Diluted earnings per common share for the first quarter of 2007 increased 20 percent to 42 cents on 115.5 million shares compared to 35 cents for the first quarter of 2006 on 114.6 million shares. Sales for the three months ended March 31 totaled $613 million, up 14.3 percent from $537 million for the same period a year ago. Gross profit for the first quarter of 2007 increased to $269 million (or 43.9 percent of sales) from $233 million (or 43.5 percent of sales) for the first quarter of 2006, representing an increase of 15.4 percent. Operating, Selling, General and Administrative expenses increased to $192 million (or 31.3 percent of sales) for the first quarter of 2007 from $168 million (or 31.4 percent of sales) for the first quarter of 2006, representing an increase of 14 percent.

Comparable store sales for stores open at least one year increased 6.8 percent and 3.8 percent for the first quarter of 2007 and 2006, respectively.

COO and Co-President Ted Wise added that the company is on track to hit its target of 190 to 195 new stores in 2007, having opened 47 new stores in the first quarter. Aggressive expansion efforts and a dual market strategy are moving the company toward its goal of $4 billion in sales by 2010, said Wise.

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