(MATTHEWS) -- Family Dollar Stores, Inc. reported its third quarter net income increased 12.1 percent to $124.5 million. This compared with net income of $111.1 million for the third quarter of fiscal 2011. Earnings Per Diluted Share for the Matthews based company increased 16.5 percent to a Record $1.06.

“I am especially pleased that we delivered these record results even as we launched multiple initiatives late in the quarter to increase our relevancy to the customer and drive greater store productivity,” said Howard R. Levine, Chairman and CEO.

Family Dollar recorded total net sales for the quarter of $2.36 billion. This compared with total net sales of $2.15 billion in the third quarter of fiscal 2011.