ATLANTA -- Genuine Parts Co. has reported its sales and earnings for the first quarter ended March 31.  

Thomas Gallagher, chairman, president and CEO, announced today that sales totaling $2.6 billion were up 6 percent compared to the first quarter of 2009. Net income for the quarter was $100.6 million, an increase of 13 percent over $89.2 million recorded in the same period of the previous year. Earnings per share on a diluted basis were 63 cents, up 13 percent compared to 56 cents for the first quarter last year.

Gallagher stated, "We are pleased to report a good start to 2010 with three of our four business segments generating sales growth for the first quarter. The Automotive Group reported a 6 percent sales increase for the quarter, consistent with our results in the fourth quarter of 2009. We are the most encouraged by the sales results in our Industrial and Electrical Groups, which improved significantly from their trends in the fourth quarter and full year in 2009. Motion Industries, our Industrial Group, had a 9 percent sales increase in the quarter, and EIS, our Electrical Group, had a 16 percent increase. Both Motion and EIS are benefiting from their internal growth initiatives as well as improving end market conditions in their respective industries. Additionally, Motion completed the BC Bearing acquisition on March 1st and EIS acquired Fay Wire on January 1st.  Results at S.P. Richards, our Office Products Group, were down only slightly and improved from the fourth quarter, ending the first quarter down 1 percent."

Gallagher added that the company is encouraged by this solid start to the year and believes each of GPC’s businesses are well-positioned to contribute to the company’s primary goals of producing solid sales results, improving operating margins, generating strong cash flows and maintaining the strength of GPC’s balance sheet.  

“As a result, we feel confident in our ability to drive sales and earnings growth in 2010," Gallagher concluded.