AutoZone 3Q net income climbs on brisk parts sales

MEMPHIS, Tenn. (AP) - AutoZone Inc. says its net income in the fiscal third quarter rose 17 percent on strong sales of automotive replacement parts and several new store openings.

The results beat Wall Street expectations.

AutoZone says it opened 21 new stores in the U.S. and 10 in Mexico during the quarter. It says revenue rose 10 percent overall and 7.1 percent at stores open at least a year.

The company says its net income rose to $202.7 million, or $4.12 per share, in the three months ended May 8. That's up from $173.7 million, or $3.13 per share, a year ago.

The results breezed past analyst projections for earnings of $3.59 per share.

Its revenue rose to $1.82 billion. Analysts expected $1.71 billion.