Industrial and construction fasteners maker Fastenal Co. reported a 6.3% decline in earnings due to higher costs and expenses as well as lower sales. Net income fell to $131.52MM or $0.46 per share from $140.36MM or $0.48 per share last year. Net sales rose to $1.01Bil from $997.83MM. Fastenal's net sales for 2Q16 rose by 1.6% from last year, came primarily from higher unit sales. The higher unit sales resulted primarily from rises in sales at existing store locations and to lesser degree opening of new store locations in last several years. Sales were impacted by some price deflation in fastener products.