Genuine Parts Company, operator of such chains as Napa auto parts and Motion Industries, reported a 19 percent increase in fourth quarter income Tuesday.
The Atlanta-based company said its income was $160 million or $1.03 per share in the quarter, which ended Dec. 31, 2012. That compares to $135 million or 86 cents per share during the same period in 2011.
For the year, net income was $648 million, a 15 percent increase over 2011. Revenue for 2012 was $13 billion, up 4.5 percent over the previous year.
“The record level of earnings achieved in 2012 reflects the third consecutive year of double-digit earnings growth for the company,” said Tom Gallagher, Genuine’s chairman and chief executive officer. “We further strengthened our financial condition with increased net income, an expanding operating margin and a continued emphasis on effectively managing the balance sheet.”
