ATLANTA (Aug. 11, 2014) — NAPA Auto Parts parent Genuine Parts Co. (GPC) generated record sales of $3.91 billion for the second quarter, up 6.3 percent from the year-ago period.
GPC's net profit fell 8.6 percent to $197.7 million for the quarter, ended June 30. However, before a one-time adjustment related to the April 1, 2013, acquisition of the remaining 70 percent interest in GPC Asia Pacific, quarterly income rose 9 percent.
For the first six months, sales jumped 9.6 percent to $7.53 billion, while earnings slipped 1.5 percent to $355.2 million. Before the one-time adjustment in 2013, net income for the six months grew 9 percent.