SPRINGFIELD, MO — O’Reilly Automotive has reported record revenues and earnings for the third quarter of 2004, which the company said continues 44 quarters of record revenues and earnings for O’Reilly since becoming a public company in April 1993.

Net income for the third quarter, which ended on Sept. 30, totaled $33.2 million, up 12.6 percent from $29.5 million for the same period a year ago. Diluted earnings per share for the third quarter of 2004 increased 11.1 percent to 60 cents on 55.8 million shares compared to 54 cents for the third quarter of 2003 on 54.9 million shares. Product sales for the third quarter totaled $455.2 million, up 10.4 percent from $412.2 million for the same period a year ago. Gross profit for the third quarter of 2004 increased to $195.8 million (or 43 percent of product sales) from $175.7 million (or 42.6 percent of product sales) for the same period a year ago, representing an increase of 11.5 percent.

Net income for the first nine months of 2004 totaled $93 million, up 22.1 percent from $76.2 million for the same period a year ago. Diluted earnings per common share for the first nine months of 2004 increased 19.3 percent to $1.67 on 55.6 million shares compared to $1.40 a year ago on 54.3 million shares. Product sales for the first nine months of 2004 totaled $1.29 billion, up 13 percent from $1.14 billion for the same period a year ago. Gross profit for the first nine months of 2004 increased to $552.9 million (or 42.7 percent of product sales) from $482.3 million (or 42.1 percent of product sales) for the same period a year ago, representing an increase of 14.6 percent.

Comparable store product sales for stores open at least one year increased 3.4 percent and 6.2 percent for the third quarter and first nine months of 2004, respectively.

“We are very pleased with the company’s performance this past quarter, particularly in light of the aftermarket’s continued relative softness in sales and with the challenging circumstances that many of our stores in the southeast faced with the hurricane season,” said David O’Reilly, co-chairman and CEO. “Team O’Reilly fired on all eight cylinders throughout the quarter achieving a 3.4 percent comparable store sales increase and opening 35 new stores, driving a net income increase of 12.6 percent.”

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