Fastenal posts lower profit, shares fall

(Reuters) - Nuts and bolts distributor Fastenal Co (FAST.O) reported a 43 percent fall in quarterly profit, hurt mainly by weaker sales at its industrial production business.

For the second quarter, net income was $43.5 million, or 29 cents a share, compared with $76.2 million, or 51 cents a share, a year ago.

Revenue fell 21 percent to $474.9 million.

Analysts on average were expecting earnings of 33 cents a share, before special items, on revenue of $485.8 million, according to Reuters Estimates.

The economic slowdown has also hit its non-residential construction business, the company said in a statement. Shares of the Winona, Minnesota-based company fell 7 percent in trading before the bell. They closed at $31.73 Friday on Nasdaq.

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Himani Sarkar)