Genuine Parts Q4 sales up 7%
Genuine Parts has reported net sales of $3bn for the fourth quarter ended 31 December 2011, an increase of 7% compared to $2.8bn for the same quarter in 2010.
Gross profit for the fourth quarter of 2011 was $892.6m, compared to $817m for the same period last year.
The company's net income was $135m for the fourth quarter, up 14% compared to $119m for the same period last year.
For the full year ended 31 December 2011 the company posted net sales of $12.5bn, an increase of 11% compared to $11.2bn for the same period in 2010.
Genuine Parts chairman, president and CEO Thomas Gallagher said the company had another excellent year in 2011, highlighted by double-digit sales and earnings growth and record sales and earnings per share for the second consecutive year.
"We further strengthened our financial condition with increased net income, an expanded operating margin and a continued emphasis on effectively managing the balance sheet," Gallagher said.
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