Motion Industries 4Q sales up 2%
Motion Industries reported that its fourth-quarter sales increased 2% to $1.05 billion.
Operating profit for the Birmingham, Ala.-based distributor of power transmission, bearings and motion control products was $78.1 million, compared to $89.1 million in the same period last year.
For the full year, Motion Industries had sales of $4.4 billion, a 7% increase compared to $4.1 billion the previous year.
"Motion Industries, our Industrial Group, increased sales by 7% for the year, driven by the combination of effective growth initiatives and a generally healthy industrial economy, although we did observe slower levels of manufacturing growth over the latter part of 2012," said Tom Gallagher, chairman and chief executive officer of Genuine Parts Company.
Genuine Parts Company sales in 2012 were $13.0 billion, up 4.5% compared to 2011. Net income for the year was $648 million, an increase of 15% compared to $565 million in 2011. Earnings per share on a diluted basis were $4.14, up 16% compared to $3.58 in 2011.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
