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Genuine Parts Company Sales Up 2% in 2008

Genuine Parts Company, Atlanta, GA, reported sales for 2008 were $11 billion, up 2% from 2007. Profit for the year was $475.4 million, a decrease of 6%.

By segment:

Motion Industries, the Industrial Group, saw a 5% increase for the year. EIS, the Electrical/Electronics Group, reported a 7% increase. The Automotive Group had a slight sales increase in 2008, and S.P. Richards, the Office Products Group, had a sales decrease of 2%.

In the fourth quarter, sales decreased 4% to $2.5 billion. Motion sales were unchanged; Automotive sales were down 6%; EIS sales were down 4%; and Office Products sales were down 5%.

The company reported a weakening in demand across all its business segments in the fourth quarter.

Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada and Mexico. The company also distributes industrial replacement parts in the U.S. and Canada through its Motion Industries subsidiary. S.P. Richards Company, the Office Products Group, distributes business products nationwide in the U.S. and Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S., Canada and Mexico.

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