The company noted that the 2012 quarterly results include a $23.5 million one-time pension gain, or $0.10 per diluted share. Excluding the gain, diluted earnings per share in the fourth quarter of 2013 were up 4 percent from 2012.
"Revenue growth in the fourth quarter proved to be the strongest of the year, with acquisitions contributing 10 percent to our sales growth and our underlying sales were up 4 percent, which was offset by a 1-percent currency headwind," Mr. Gallagher said.
"We faced a number of challenges in each of our four business segments in 2013 and, as previously stated, our automotive business fared the best with their 18.5-percent sales increase. In all four businesses, key decisions were made and actions taken that position each segment for solid performances in the year ahead, and we look forward to reporting on our progress.
"We remain committed to our core objectives of growing sales and earnings, showing continued operating margin improvement, generating solid cash flows and maintaining a strong balance sheet. Further progress in each of these areas will keep the company moving ahead and help to ensure another successful year in 2014."
Based on its annual results, the company is offering a 7-percent increase in its regular quarterly cash dividend for 2014 to an annual rate of $2.30 per share compared with the previous dividend of $2.15 per share. The company said it has paid a cash dividend every year since going public in 1948 and 2014 marks the 58th consecutive year of increased dividends paid to shareholders.
In other business, Genuine Parts named James R. Neill, currently senior vice president of employee development and HR services, as senior vice president of human resources, succeeding Bruce Clayton, who is retiring April 1.