Motion Industries sales up 4 percent
Sales increased by 4 percent for Motion Industries in the fourth quarter to $1.15 billion, compared to $1.10 billion in the same period last year.
Operating profit improved by 11.7 percent to $80.9 million, compared to $72.5 billion in last year's fourth quarter.
Sales for the year were $4.63 billion, relatively flat compared to the $4.64 billion for 2015.
Genuine Parts Company sales for the quarter were $3.78 billion, a 3 percent increase compared to $3.68 billion for the same period in 2015. Net income for the quarter was $152.5 million compared to $161.3 million recorded for the same period in the previous year. Earnings per share on a diluted basis were $1.02 compared to $1.07 for the fourth quarter last year.
Sales for the year were $15.34 billion, up 0.4 percent compared to $15.28 billion for the same period in 2015. Net income was $687.2 million, down 3 percent from 2015, and earnings per share on a diluted basis were $4.59, down 1 percent compared to $4.63 in 2015.
"The fourth quarter was our strongest quarterly sales performance of the year, with acquisitions being the primary growth driver in each of our four business segments. With that said, we did see improvement in our comparable sales trends in the Automotive, Industrial and Electrical/Electronic businesses relative to the second and third quarters of 2016," said Paul Donahue, president and chief executive officer.