From AFX News Limited

SPRINGFIELD, MO -- Auto parts retailer O'Reilly Automotive said Tuesday its third-quarter profit fell 2 percent on higher operating costs and tax expenses, missing Wall Street expectations.

Quarterly earnings dipped to $47.9 million, or 42 cents per share, from $48.6 million, or 42 cents per share, during the same period last year. The year-ago period included a tax gain of $6.1 million. Revenue increased 10 percent to $597.1 million from $542.9 million during the year-ago quarter.

Analysts polled by Thomson Financial forecast a profit of 43 cents per share on sales of $611.3 million.

"We are pleased with another successful quarter for Team O'Reilly particularly in light of the challenging macroeconomic environment in the aftermarket industry," said Greg Henslee, the company's chief executive officer. "We were able to maintain strong margins and post a respectable 3.6 percent comparable store sales growth despite the challenging conditions in the third quarter."

Shares closed down a penny at $34.82 on the Nasdaq.

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