Motion Industries sales up 3 percent
Motion Industries posted sales of $1.18 billion for the first quarter, a 3% gain compared to $1.14 billion in the same period last year.
Operating profit of $87.7 million compared to $83.0 million for the first quarter of 2014.
Tom Gallagher, chairman and chief executive officer of Genuine Parts Company, Motion's parent, attributed the sales gain to "3% underlying growth and 1% from acquisitions, offset by a currency headwind of approximately 1%."
Genuine Parts Company reported sales for the first quarter increased 3% to $3.7 billion compared to sales of $3.6 billion for the same period in 2014. Net income for the first quarter was $161.0 million, up 2% from $157.5 million recorded for the same period in the previous year. Earnings per share on a diluted basis were $1.05, up 3% compared to $1.02 for the first quarter last year.
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.
