15 October 2004 – Atlanta (GA): Genuine Parts Company (GPC) has posted a rise in Q3 sales and earnings helped by an impressive performance from SP Richards (SPR).
SPR’s parent company reported an 11 per cent rise in net income to $97.9 million, or EPS of $0.56, compared to $88.3 million, or EPS of $0.51, registered 12 months earlier. Sales lifted seven per cent to $2.3 billion.
SPR saw sales jump eight per cent to $406 million, while the unit’s operating profit also rose, up from $30.3 million to $32.2 million.
Chairman Larry Prince said: "Sales and earnings for the third quarter reached record levels for the period and continued the positive pattern established early in 2004. All four segments contributed significantly to our results."