Fastenal officials say the company has turned a corner and has begun to show momentum in growth.
CEO Will Oberton told the firm's annual meeting Tuesday that 2013 was not one of the company's better years experiencing just 6.7 percent in sales growth and 3.3 percent in earnings growth.

Oberton blamed some of the problems on the economy, but also said the tide began to turn in mid-2013 when Fastenal corrected a mistake in not hiring more people.

Oberton also said the first quarter of 2014 has showed evidence the company is turning things around.

Oberton also pointed out one of the highlights of 2013 was reaching a total of 3,400 Fastenal vending machines in stores.

He also said Fastenal now operates in all 50 states and many foreign countries. New manufacturing locations opened in Poland, Chili, and Africa in 2014.

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