O'Reilly Automotive posts lower quarterly earnings

DETROIT, April 22 (Reuters) - Auto parts retailer O'Reilly Automotive Inc (ORLY.O: Quote, Profile, Research), which is in the process of acquiring CSK Auto Corp CAO.N, on Tuesday posted a lower quarterly profit due to the weakening economy and high gas prices.

Net income in the first quarter fell to $46.3 million, or 40 cents a share, from $48.4 million, or 42 cents a share, in the year-earlier quarter.

Analysts on average expected O'Reilly to report earnings of 43 cents per share, according to Reuters Estimates.

O'Reilly announced a deal to acquire CSK Auto earlier in April that would solidify its position as the third largest U.S. auto parts retail chain behind No. 1 chain AutoZone Inc (AZO.N: Quote, Profile, Research) and Advance Auto Parts Inc (AAP.N: Quote, Profile, Research). (Reporting by Ben Klayman)