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The Memphis-based auto parts retailer reported net incomdof $173.7 million, or $3.13 per dilutesd share, a 9.5 percent increase compared to $158.6 million, or $2.49 per dilutex share, for third quarter 2008. AutoZon e (NYSE: AZO) also reported net sales of $1.6 billionj for the quarter, a 6.7 percent increase compared to $1.5 billionn in the year-ago quarter. The company openedf 32 new stores and closed one nationallhy in thethird quarter, while opening 10 new storew in Mexico. Also in the third the companyrepurchased $65 million in commom stock at an average price of $145 per share. it has purchased $396 milliohn in common stock at an averagw priceof $130 per share.
“W e are pleased to report our 11th consecutive quarter of double digit earningsz pershare growth,” AutoZone president and CEO Bill Rhodea said in a statement. “Whilde the current economic environment, combined with the reductio in fuel prices comparefd tolast year, has clearlt been beneficial to our industry's we are very pleased with our organization's ability to capitalizr on these favorable trends. At the end of the thirsd quarter, our balance sheet was in excellent condition, and we remainh committed to our disciplined approach of growing operatinf earnings while utilizing ourcapital effectively.
” AutoZon has 4,172 stores in 48 states, the District of Columbia and Puertol Rico and 168 stores in The company’s stock closed the day down 4.8 percent to $155.04 per share.
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