Genuine Parts Company (NYSE: GPC), Atlanta, GA, reported third-quarter sales of $2.95 billion, an increase of 13 percent compared to the same period a year ago. Profit increased 22 percent to $131.8 million.
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For the nine months ended Sept. 30, 2010, sales were $8.4 billion, up 11 percent compared to the first nine month of 2009. Profit increased 19 percent to $300.4 million.
By segment, sales for industrial distributor Motion Industries, No. 6 on the list of MDM's top 40 industrial distributors, were up 29 percent for the quarter. EIS, the electrical group, had a sales increase of 31 percent. The Automotive Group's sales went up 7 percent. S.P. Richards, the Office Products Group, ended the quarter slightly down from last year.
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