Motion Industries sales up 10 percent
Motion Industries had sales for $1.2 billion for the third quarter, a 10% increase from $1.1 billion reported last year.
Opearating profit for the quarter was $95.2 million, compared to $79.6 million last year.
For the first nine months of the year, sales were $3.5 billion, compared to $3.3 billion in the same period last year.
The third quarter sales increase resulted from 8% underlying growth and 3% from acquisitions offset by a currency headwind of approximately 1%, according to a statement from Thomas C. Gallagher, chairman and chief executive officer.
Sales for Motion's parent company, Genuine Parts Company, totalled $4.0 billion, up 8% compared to the third quarter of 2013. Net income for the quarter was $190.5 million compared to $173.7 million recorded in the same period of the previous year. Earnings per share on a diluted basis were $1.24 compared to $1.12 for the third quarter last year, up 11%.
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.
