Genuine Parts, the Atlanta company that distributes automotive replacement parts, saw profits jump as market conditions improved.

The company reported annual profits of $475.5 million, a 19 percent increase over 2009  profits of $399.6 million, and diluted earnings per share of $3.00 for the year as compared to $2.50 in 2009 .

For the fourth quarter, Genuine Parts reported profits of $118.7 million, as compared to $99.2 million in 2009. Earnings per share rose 13 cents, to 75 cents per share in the quarter.

The company also saw an 11 percent increase in sales for the year, to $11.2 billion.

In a statement, Genuine Parts chairman, president and CEO Tom Gallagher said momentum in the company's automotive sales strengthened as the year progressed. There was a "strong rebound" across manufacturing, he said.

"We enter 2011 with a degree of optimism," he said.

The company has made two acquisitions in 2011, of industrial supply businesses Dayton Supply & Tool Co. and D.P. Brown.

Gallagher said in a conference call that he was proud of the job the company is doing.

"From our perspective, we came through the year in good shape," he said.

About the Author

Keep Reading

Kandi Burruss, one of the longest-serving cast members in The Real Housewives franchise, opened Blaze Steak and Seafood in 2020. The restaurant is located along the Cascade Road corridor.

Credit: Savannah Sicurella

Featured

People join a rally in support for U.S. Centers for Disease Control and Prevention employees on Tuesday afternoon, April 1, 2025, at the Atlanta headquarters after federal cuts triggered significant layoffs. (Photo: Jenni Girtman for The Atlanta Journal-Constitution)

Credit: Jenni Girtman