Genuine Parts Report Lower Revenue, Profit For 2001

Autoparts Report, March 20, 2002

Genuine Parts Co. said sales in 2001 were $8.22 billion, a 2 percent decrease compared to 2000 sales of $8.37 billion. Net income excluding non-recurring items decreased 6 percent to $362 million, down from $385 million recorded in the prior year. Diluted earnings per share for 2001, excluding unusual items, were $2.08 versus $2.20 per share in 2000, a decrease of 5 percent. After unusual items, diluted earnings per share for 2001 were $1.71 per share, a decrease of 22 percent.

Larry Prince, Chairman of the Board of Directors, said: "Our largest segment, automotive parts, experienced modest growth in 2001 with sales increasing 2 percent and we believe fundamentals for continued improvement are in place for 2002."

Sales in 2001 decreased 3.5 percent to $1.95 billion in the fourth quarter ended December 31, 2001, as compared to $2.02 billion for the same period in 2000. Diluted earnings per share in the fourth quarter, excluding unusual charges, were $.51 compared to the prior year of $.61 per share. After unusual items, diluted earnings per share for the quarter were $.14 per share, a decrease of 77 percent.