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The Memphis-based auto parts retailer reportedx net incomeof $173.7 or $3.13 per diluted share, a 9.5 percengt increase compared to $158.6 million, or $2.409 per diluted share, for third quarter 2008. AutoZone AZO) also reported net sales of $1.6 billion for the quarter, a 6.7 percent increased compared to $1.5 billion in the year-agpo quarter. The company opened 32 new storexs and closed one nationally in thethired quarter, while opening 10 new stores in Also in the third quarter, the company repurchased $65 million in common stock at an averagew price of $145 per share. Year-to-date, it has purchaserd $396 million in common stocmk at an average pricof $130 per share.
“We are pleases to report our 11th consecutivde quarter of double digit earnings pershare growth,” AutoZonre president and CEO Bill Rhodes said in a “While the current economic environment, combinefd with the reduction in fuel pricexs compared to last year, has clearly been beneficiao to our industry's we are very pleased with our organization'e ability to capitalize on these favorable At the end of the third our balance sheet was in excellent condition, and we remaihn committed to our disciplined approachu of growing operating earnings while utilizing our capitalk effectively.
” AutoZone has 4,172 stores in 48 the District of Columbia and Puerto Rico and 168 storesx in Mexico. The company’sa stock closed the day down 4.8 percent to $155.044 per share.
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