Motion Industries sales fall 1%
Sales at Motion Industries fell by 1% to $1.13 billion for the second quarter, compared to $1.14 billion in the same period last year.
Operating profit for the quarter was approximately $88.9 million, compared to $95 million in the same quarter of 2012.
Sales for the first six months of the year also declined to $2.23 billion, compared to $2.25 billion last year.
"Our non-automotive businesses remain our most challenging, as their end markets were relatively weak throughout the second quarter," said Thomas C. Gallagher, chairman and chief executive officer of Genuine Parts Company. "Sales for Motion Industries, our Industrial Group, were down approximately 1%, and EIS, our Electrical/Electronic Group, showed sales down 4%. S.P. Richards, our Office Products Group, had a 3% decrease in sales. We continue to expect a stronger second half of the year for these businesses, but likely at a slower rate of growth than previously anticipated."
Sales for Genuine Parts Company were $3.68 billion for the quarter, up 10% compared to the second quarter of 2012. Net income for the quarter was $216.4 million, an increase of 28% from $168.6 million recorded in the same period of the previous 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.
