Motion Industries sales decline 1.7 percent
Sales at Motion Industries for the second quarter declined by 1.7% to $1.17 billion, compared to $1.19 billion in the same period last year.
Paul Donahue, president and chief executive officer for Motion parent Genuine Parts Company, said the results included a 3% underlying sales decrease and an approximate 0.5% currency headwind, offset by a 2% benefit from acquisitions.
Operating profit of $88.3 million compared to $88.9 million for last year's second quarter.
For the first six months of the year, sales of $2.3 billion were down 2.1% from $2.4 billion in the first six months of 2015.
Sales for Genuine Parts Company as a whole for the second quarter were $3.90 billion compared to $3.94 billion for the same period in 2015. Net income of $349.4 million was down from $356.4 million in the second quarter of 2015.
INDUSTRIAL SUPPLY MAGAZINE
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