Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for 2009 were $10.1 billion, down 9% compared to 2008. Profit declined 16% to $399.6 million.
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For the fourth quarter, sales were $2.47 billion, a decrease of 2% from the prior year period. Profit increased 13% to $99.17 million.
Sales for Motion Industries, GPC’s industrial group, were down 18% for the year. EIS, the electrical segment, reported an annual sales decline of 26%.
The Automotive Group reported a 2% sales decrease for the year and S.P. Richards, the office products Group, was down 5% for 2009.
\”2009 turned out to be one of the most challenging years in the history of Genuine Parts Company,\” says Tom Gallagher, GPC president and CEO. \”We observed some early signs of improving market conditions in the latter part of 2009 and we feel this bodes well for a stronger performance in 2010.\”
