The 2020 Mid-Year Economic Update_long

Motion Industries Sales Up 19% in 2011

Parent company Genuine Parts Company sales increased 11 percent for the year.

Motion Industries, Birmingham, AL, reported sales for 2011 were $4.17 billion, up 19 percent over sales in 2010. Operating profit grew 32 percent to $337.6 million.

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For the fourth quarter, Motion Industries reported sales of $1.03 billion, up 13 percent year over year. Operating profit increased 21 percent to $89.1 million.

Parent company Genuine Parts Company (NYSE: GPC), Atlanta, GA, reported sales for the year were $12.5 billion, up 11 percent over 2010. Profit increased 19 percent to $565 million.

Automotive Group sales grew 8 percent, while EIS, the electrical distribution company, grew 24 percent. S.P. Richards, GPC’s office products group, posted sales gains of 3 percent for the year.

Fourth quarter sales for Genuine Parts grew 7 percent to $3 billion, with profit increasing 14 percent to $135 million. Automotive Group sale increased 6 percent, electrical group sales increased 10 percent and office products group sales declined 1 percent to $391.4 million.

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