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Genuine Parts 4Q Net Rises 13% On Improved Auto Performance

DOW JONES NEWSWIRES Genuine Parts Co. (GPC) posted a surprise 13% jump in fourth-quarter earnings. The parts distributor and seller saw improved results in its automotive segment. Shares rose 5% to $40.08 in recent trading. "We are encouraged by the sequential improvement across all of our business segments," said Chairman and Chief Executive Tom Gallagher. "We observed some early signs of improving market conditions in the latter part of 2009, and we feel this bodes well for a stronger performance in 2010." The operator of NAPA parts stores had seen profits decline as it leaned heavily on its parts business, which has been somewhat recession-resistant as consumers repair old vehicles rather than buying new ones. But industrial-production declines have affected the bottom line significantly. Genuine Parts reported a profit of $99.2 million, or 62 cents a share, up from $87.8 million, or 55 cents, a year earlier. Revenue declined 1.9% to $2.47 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 50 cents on $2.4 billion in revenue. Gross margin rose to 31.1% from 29.8%. The company's automotive segment--its biggest--saw revenue rise 5.9% while operating profit rose 11%. Meanwhile, its industrial segment's revenue declined 11% and profit dropped 16%. Genuine Parts is the largest member and majority owner of the National Automotive Parts Association, a voluntary trade group that distributes automotive replacement parts in North America. Genuine Parts also distributes industrial parts, business products and electrical components. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;

Stock News for Genuine Parts (GPC)
DateTimeHeadline
05/24/201608:30:00Why Investors Love These Stocks? - KAR Auction Services, Finish...
05/19/201609:30:13Current Report Filing (8-k)
05/19/201609:00:00Genuine Parts Company Announces Acquisition Of Safety Products...
05/09/201614:03:03Statement of Changes in Beneficial Ownership (4)
04/29/201610:33:41Quarterly Report (10-q)
04/28/201615:06:40Statement of Changes in Beneficial Ownership (4)
04/28/201615:05:20Statement of Changes in Beneficial Ownership (4)
04/28/201615:04:55Statement of Changes in Beneficial Ownership (4)
04/28/201615:04:28Statement of Changes in Beneficial Ownership (4)
04/28/201615:03:37Statement of Changes in Beneficial Ownership (4)
04/28/201615:02:19Statement of Changes in Beneficial Ownership (4)
04/26/201616:54:01Current Report Filing (8-k)
04/25/201616:44:32Current Report Filing (8-k)
04/25/201616:10:00Genuine Parts Company Declares Regular Quarterly Dividend
04/25/201616:05:00Genuine Parts Company Announces New Chief Executive Officer
04/21/201613:32:22Statement of Changes in Beneficial Ownership (4)
04/21/201613:28:42Statement of Changes in Beneficial Ownership (4)
04/21/201613:27:39Statement of Changes in Beneficial Ownership (4)
04/21/201613:26:29Statement of Changes in Beneficial Ownership (4)
04/19/201610:20:00Genuine Parts Revenue Edges Down 0.5%

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