Genuine Parts Company Reports Q1 EPS of $0.80 vs. $0.75; Revenues $3.0B vs. $2.86B

Genuine Parts Company GPC reports sales and earnings for the first quarter ended March 31, 2011. Thomas C. Gallagher, Chairman, President and Chief Executive Officer, announced today that record sales totaling $3.0 billion were up 14% compared to the first quarter of 2010. Net income for the quarter was $126.5 million, an increase of 26% over $100.6 million recorded in the same period of the previous year. Earnings per share on a diluted basis were 80 cents, up 27% compared to 63 cents for the first quarter last year.