Motion Industries sales up 8%
Motion Industries chalked up sales of $1.1 billion for the second quarter, an 8% increase compared to $1.0 billion in the same period last year.
Net income for the quarter was $168.6 million, compared to $151.8 million last year.
Motion's parent company, Genuine Parts Co., reported record sales totaling $3.3 billion were up 5% compared to the second quarter of 2011. Net income for the quarter was $168.6 million, an increase of 11% from $151.8 million recorded in the same period of the previous year.
"Sales for Motion Industries, our Industrial Group, and EIS, our Electrical Group, remain the strongest among our four business segments. Motion posted an 8% sales increase for the quarter, and EIS was up 9%. We remain encouraged by the ongoing sales opportunities for these two groups," said Thomas C. Gallagher, chairman and chief executive officer.
Motion Industries had sales of $2.2 billion for the first six months of the year, compared to $2.0 billion last year.
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.
