ATLANTA -- Genuine Parts Co. (GPC) has reported record sales and earnings for the first quarter, which ended March 31. Sales totaling $2.6 billion were up 9 percent compared to the first quarter of 2005. Net income for the quarter was $113.9 million, an increase of 7 percent over $106.6 million recorded in the same period of the previous year. Earnings per share on a diluted basis were 66 cents, up 8 percent compared to 61 cents for the first quarter last year.

Tom Gallagher, chairman, president and chief executive officer, commented, "We are pleased to report good sales and earnings growth for the first quarter of 2006. As has been the pattern for the past few years, each of our four business segments contributed to our overall sales growth for the quarter. Motion Industries, our Industrial Group, grew sales by 12 percent. This follows double-digit sales increases in 2005 and 2004 and we anticipate another good year from our industrial operations. The Automotive Group reported a 5 percent sales increase for the quarter. Within this group, the core NAPA business was actually a bit stronger, posting a 7 percent sales increase. S.P. Richards, our Office Products Group, generated a 13 percent sales increase for the quarter and EIS, our Electrical Group, was up 13 percent also."

Gallagher added that the company's balance sheet as of March 31 remains in excellent condition. He said GPC will continue to strengthen its financial position through strong earnings growth and initiatives to improve working capital.

"We are encouraged by the opportunity to have another good year in 2006,” he continued. “The outlook for continued growth in each of our businesses remains positive. Favorable market conditions combined with the proper execution of our growth initiatives should enable us to produce another year of steady sales growth and, in turn, solid earnings results."

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