O'Reilly Auto Parts 2013 Annual Report Download - page 10

FORM 10-K
4
Forward-Looking Statements
We claim the protection of the safe-harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. You can identify these statements by forward-looking words such as “expect,” “believe,” “anticipate,” “should,” “plan,”
“intend,” “estimate,” “project,” “will” or similar words. In addition, statements contained within this annual report that are not historical
facts are forward-looking statements, such as statements discussing among other things, expected growth, store development, integration
and expansion strategy, business strategies, future revenues and future performance. These forward-looking statements are based on
estimates, projections, beliefs and assumptions and are not guarantees of future events and results. Such statements are subject to risks,
uncertainties and assumptions, including, but not limited to, competition, product demand, the market for auto parts, the economy in
general, inflation, consumer debt levels, governmental regulations, our increased debt levels, credit ratings on public debt, our ability to
hire and retain qualified employees, risks associated with the performance of acquired businesses, weather, terrorist activities, war and
the threat of war. Actual results may materially differ from anticipated results described or implied in these forward-looking statements.
Please refer to the “Risk Factors” section of this annual report on Form 10-K for the year ended December 31, 2013, for additional factors
that could materially affect our financial performance. Forward-looking statements speak only as of the date they were made and we
undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by applicable law.
PART I
Item 1. Business
GENERAL INFORMATION
O'Reilly Automotive, Inc. and its subsidiaries, collectively “we,” “O’Reilly,” or the “Company,” is one of the largest specialty retailers
of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, selling our products to both do-it-yourself
(“DIY”) and professional service provider customers, our “dual market strategy”. The business was founded in 1957 by Charles F.
O'Reilly and his son, Charles H. ''Chub'' O'Reilly, Sr. and initially operated from a single store in Springfield, Missouri. Our common
stock has traded on The NASDAQ Global Select Market under the symbol “ORLY” since April 22, 1993.
At December 31, 2013, we operated 4,166 stores in 42 states. Our stores carry an extensive product line, including the products identified
below:
 new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components,
batteries, belts, hoses, temperature control, chassis parts and engine parts;
 maintenance items, such as oil, antifreeze, fluids, filters, wiper blades, lighting, engine additives and appearance products; and
 accessories, such as floor mats, seat covers and truck accessories.
Our stores offer many enhanced services and programs to our customers, such as those identified below:
 used oil, oil filter and battery recycling
 battery, wiper and bulb replacement
 battery diagnostic testing
 electrical and module testing
 check engine light code extraction
 loaner tool program
 drum and rotor resurfacing
 custom hydraulic hoses
 professional paint shop mixing and related materials
 machine shops
See "Risk Factors" beginning on page 15 for a description of certain risks relevant to our business. These risk factors include, among
others, deteriorating economic conditions, competition in the automotive aftermarket business, our sensitivity to regional economic and
weather conditions, future growth assurance, our dependence upon key and other personnel, our relationships with key vendors and
availability of key products, our acquisition strategies, complications in our distribution centers (“DC”s), failure to achieve high levels
of services and products, the effect of sales of shares of our common stock eligible for future sale, unanticipated fluctuations in our
quarterly results, the volatility of the market price of our common stock, increased debt levels, a downgrade in our credit ratings, data
security, and environmental legislation and other regulations.