ATLANTA Genuine Parts Co. reported fourth-quarter results and record sales and earnings for the year ended Dec. 31, 2011.
Tom Gallagher, chairman and CEO, announced that sales in 2011 were $12.5 billion, up 11 percent compared to 2010. Net income for the year was $565 million, an increase of 19 percent, compared to $476 million in 2010. Earnings per share on a diluted basis were $3.58, up 19 percent compared to $3 in 2010.
Gallagher said all four of GPC’s business segments produced top line growth for the year. The Automotive Group reported an 8 percent sales increase for the year, and the positive sales trends for this segment in 2011 reflect the ongoing solid fundamentals in the automotive aftermarket, including the overall aging of the vehicle population, he noted.