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In The News:

Motion Industries Sales Fall 16% in 1Q 2009

Genuine Parts Company, Atlanta, GA, reported sales in the first quarter ended March 31, 2009, were down 11% to $2.4 billion from the prior-year period. Profit was $89.2 million, a decrease of 28%.

By group:

  • The Automotive Group: 7% decrease

  • S.P. Richards (office products): 7% decrease

  • Motion Industries (industrial): 16% decrease

  • EIS (electrical): 25% decrease.

Genuine Parts expects the effects of the economic slowdown to persist for "several more quarters."

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