Genuine Parts Company, owner of the NAPA automotive chain, saw profits rise 2 percent in the first quarter of 2015, the Atlanta-based business said Tuesday.
Net income for the quarter, which ended March 31, was $161 million, up from $157.5 million at the same time last year. Earnings per share were $1.05 in the quarter, compared to $1.02 in 2014.
“We are pleased to report a solid start to 2015 and, although our sales and earnings growth rates moderated from the results reported in recent quarters, we performed in line with our expectations,” said Tom Gallagher, chairman and chief executive officer.
The company also had sales of $3.7 billion, up 3 percent compared to $3.6 billion for the same period in 2014.
By division, sales for the automotive group were flat; up about 3 percent for the company’s industrial group; 1 percent for electrical/electronic group; and 17 percent for the office products group.
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