Genuine Parts Company, Atlanta, GA, reported sales increased 6% to $2.7 billion for the third quarter ended Sept. 30, 2006. Net income was $121.3 million, an increase of 9% from the same period a year ago.
For the nine months ended Sept. 30, 2006, sales totaled $7.9 billion, up 7% compared to the same period in 2005. Net income for the nine months was $355.9 million, an increase of 8%.
Motion Industries grew sales by 11%, and EIS, the Electrical Group, posted a 23% sales increase for the quarter.
“Business conditions in the industries served by the industrial and electrical operations have remained strong and we are expecting another period of good results from these groups in the fourth quarter,” said Tom Gallagher, chairman, president and CEO.
S.P. Richards, the Office Products Group, generated a 5% sales increase for the quarter and the Automotive Group increased sales by 1% in the quarter.
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Genuine Parts Co. Adds Heavy-Duty Parts Group in U.S.
Genuine Parts Co. Reports 8% Sales Jump in 2Q
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