SPR boosts GPC Q3

Genuine Parts Company (GPC) has posted a rise in Q3 sales and earnings, helped by an impressive performance from SP Richards (SPR).

GPC 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, in Q3 2003. 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."

Atlanta (GA)