O'Reilly sees big jump in profits...

Auto parts retailer O'Reilly Automotive Inc. on Tuesday said it saw a 40 percent increase in third quarter profits, thanks to strong sales and a one-time tax break.

The Springfield-based company, which operates 1,432 stores primarily in the Midwest and Southeast, reported earnings of $48.6 million, or 42 cents per share, compared to $34.7 million, or 31 cents per share during the same quarter last year.

Excluding a one-time tax rate benefit of $6.1 million, the company said earnings would have been 37 cents per share, which is in line with estimates from analysts surveyed by Thomson Financial.

Revenue during the quarter increased 19 percent, from $455.2 million to $542.9 million.

Sales of stores that have been open for at least a year, a routine measure of retail health, increased 6.1 percent, the company said.

Greg Henslee, O'Reilly's chief executive officer and co-president, praised the company's employees for their work in bouncing back from hurricanes Katrina and Rita.

"Although the storm inflicted some damage to stores in the affected regions, the hurricanes had no significant effect on third quarter financial results," Henslee said in a written statement.

O'Reilly released its earnings after the market closed. O'Reilly shares gained 9 cents to $27 Tuesday on the Nasdaq stock exchange. The stock has traded in a 52-week range of $20.06 to $32.53.

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