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Motion Industries Sales Up 2.9% in 4Q

Motion Industries, No. 6 on MDM’s 2013 list of the top 40 industrial distributors, reported sales for 2013 of $4.4 billion, a slight decrease from 2012. Operating profit decreased 8.9 percent to $320.7 million.

For the fourth quarter, sales for Motion were $1.1 billion, an increase of 2.9 percent compared to the same period a year ago. Operating profit decreased 6.1 percent to $73.3 million.

Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the year of $14.1 billion, an increase of 8 percent compared to 2012. Profit increased 6 percent to $685 million.

Sales in 2013 for EIS, GPC's electrical/electronic group, decreased 2 percent. Sales for S. P. Richards, the office products group, decreased 3 percent. Automotive sales increased 18.5 percent, with underlying sales for the group up 4 percent.

For the fourth quarter, sales for GPC were $3.5 billion, an increase of 13 percent compared to the same period a year ago. Profit decreased 6.3 percent to $150 million.

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