Motion Industries sales up 7.7%
Motion Industries reported sales of $4.7 billion in 2014, a 7.7% increase over $4.4 billion a year earlier.
Operating profit of $370 million was up 15.4% from $320 million in 2013.
Fourth quarter sales of $1.2 billion compared to $1.1 billion in the fourth quarter of 2013.
"Sales at Motion Industries, our Industrial Group, were up 10%, including 9% underlying growth and 2% from acquisitions offset by a currency headwind of approximately 1%," said Tom Gallagher, chairman and chief executive officer of Genuine Parts Company.
Genuine Parts Company reported sales in the quarter increased 9% to $3.8 billion, compared to $3.5 billion for the same period in 2013. Net income was $166 million, or $1.07 per share on a diluted basis, compared to $150 million, or 97 cents, in 2013, up 10%.
Sales for the year ended were $15.3 billion, up 9% compared to 2013. Net income for the year was $711 million, an increase of 4% compared to $685 million in 2013. Earnings per share on a diluted basis were $4.61, up 5% compared to $4.40 in 2013.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
