SPRINGFIELD, MO -- O'Reilly Automotive today announced record revenues and earnings for the first quarter of 2005.

Net income for the first quarter which ended on March 31, before cumulative effect of accounting change, totaled $33.2 million, up 21.7 percent from $27.3 million for the same period in 2004. Diluted earnings per common share for the first quarter, before cumulative effect of accounting change, increased 20.4 percent to 59 cents on 56.3 million shares compared to 49 cents for the first quarter of 2004 on 55.4 million shares. Product sales for the three months totaled $466.2 million, up 15.6 percent from $403.3 million for the same period a year ago.

Gross profit for the first quarter increased to $196.2 million from $169.6 million for the first quarter of 2004, representing an increase of 15.7 percent. Operating, Selling, General and Administrative ("OSG&A") expenses increased to $142.6 million (or 30.6 percent of product sales) for the first quarter of 2005 from $125.6 million (or 31.1 percent of product sales) for the first quarter of 2004, representing an increase of 13.6 percent.

Comparable store product sales for stores open at least one year increased 7.1 percent and 12.4 percent for the first quarter of 2005 and 2004, respectively.

"We are very pleased with our 7.1 percent comparable store product sales increase, especially considering the difficult comparison of the 12.4 percent comparable store sales increase in the first quarter of 2004," said Greg Henslee, CEO and co-president. "We're equally pleased with our team's focus on expense management during the quarter as we completed the opening of our eleventh distribution center in Atlanta, Georgia."

COO and Co-President Ted Wise added that new store openings are underway with a net of 37 new stores opened during the first quarter of 2005.

For more information about O'Reilly, go to: www.oreillyauto.com.

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