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Genuine Parts Company Reports Record Sales Up 12% and Record Earnings Per Share Up 23% for the Second Quarter Ended June 30, 2011

ATLANTA July 15, 2011 June 30, 2011 $3.2 billion $151.8 million $124.5 million 96 cents 78 cents

http://photos.prnewswire.com/prnh/20081002/CLTH108LOGO

$1 billion

June 30, 2011 $6.2 billion $278.3 million $1.76 $1.42

June 30, 2011 $517 million

Mr. Gallagher concluded, "We are encouraged by the sales and earnings growth achieved in the second quarter and for the first six months in 2011.  We also remain optimistic that our businesses will show continued progress over the balance of the year.  Our management team remains committed to sustaining good revenue growth, further improving operating margins, generating solid cash flows and maintaining a strong balance sheet."

Conference Call

11:00 a.m. Eastern time www.genpt.com 12:00 a.m. Eastern time July 30, 2011

Forward Looking Statements

Some statements in this report, as well as in other materials we file with the Securities and Exchange Commission (SEC) or otherwise release to the public and in materials that we make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking. Forward-looking statements may relate, for example, to future operations, prospects, strategies, financial condition, economic performance (including growth and earnings), industry conditions and demand for our products and services. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, slowing demand for the Company’s products, changes in general economic conditions, including, unemployment, inflation or deflation, high energy costs, uncertain credit markets and other macro-economic conditions, the ability to maintain favorable vendor arrangements and relationships, disruptions in our vendors’ operations, competitive product, service and pricing pressures, the Company’s ability to successfully implement its business initiatives in each of its four business segments, the uncertainties and costs of litigation, as well as other risks and uncertainties discussed in the Company’s Annual Report on Form 10-K for 2010 and from time to time in the Company’s subsequent filings with the SEC.

Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, Form 8-K and other reports to the SEC.

About Genuine Parts Company

Canada Mexico Canada Mexico Canada Canada Mexico

GENUINE PARTS COMPANY and SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Three Months Ended June 30,

Six Months Ended June 30,

2011

2010

2011

2010

(Unaudited)

(in thousands, except per share data)

Net sales

$3,184,984

$2,847,186

$6,159,182

$5,449,301

Cost of goods sold

2,268,870

2,024,876

4,394,274

3,866,516

Gross profit

916,114

822,310

1,764,908

1,582,785

Operating expenses:

Selling, administrative & other expenses

651,635

598,331

1,285,904

1,174,548

Depreciation and amortization

22,928

23,186

45,473

45,329

674,563

621,517

1,331,377

1,219,877

Income before income taxes

241,551

200,793

433,531

362,908

Income taxes

89,739

76,326

155,204

137,832

Net income

$151,812

$124,467

$278,327

$225,076

Basic net income per common share

$ .97

$ .79

$1.77

$1.42

Diluted net income per common share

$ .96

$ .78

$1.76

$1.42

Weighted average common shares outstanding

157,248

158,260

157,439

158,514

Dilutive effect of stock options and

  non-vested restricted stock awards

995

402

988

403

Weighted average common shares outstanding –

  assuming dilution

158,243

158,662

158,427

158,917

GENUINE PARTS COMPANY and SUBSIDIARIES

SEGMENT INFORMATION AND FINANCIAL HIGHLIGHTS

Three Months Ended June 30,

Six Months Ended June 30,

2011

2010

2011

2010

(Unaudited)

(in thousands)

Net sales:

Automotive

$1,585,074

$1,459,672

$2,989,939

$2,750,073

Industrial

1,051,258

882,233

2,051,029

1,685,535

Office Products

417,989

401,960

850,655

812,471

Electrical/Electronic Materials

136,780

106,579

276,594

206,877

Other (1)

(6,117)

(3,258)

(9,035)

(5,655)

Total net sales

$3,184,984

$2,847,186

$6,159,182

$5,449,301

Operating profit:

Automotive

$138,795

$126,022

$236,694

$214,927

Industrial

85,289

60,118

151,298

108,964

Office Products

31,367

30,454

68,771

67,013

Electrical/Electronic Materials

9,172

6,948

19,242

13,763

Total operating profit

264,623

223,542

476,005

404,667

Interest expense, net

(6,236)

(6,693)

(12,736)

(13,426)

Other, net

(16,836)

(16,056)

(29,738)

(28,333)

Income before income taxes

$241,551

$200,793

$433,531

$362,908

Capital expenditures

$27,213

$18,062

$41,748

$27,912

Depreciation and amortization

$22,928

$23,186

$45,473

$45,329

(1)  Represents the net effect of discounts, incentives and freight billed reported as a component of net sales.

GENUINE PARTS COMPANY and SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30,

June 30,

2011

2010

(Unaudited)

(in thousands)

ASSETS

CURRENT ASSETS

Cash and cash equivalents

$  516,728

$  411,872

Trade accounts receivable, net

1,565,889

1,353,918

Merchandise inventories, net

2,251,595

2,164,548

Prepaid expenses and other current assets

299,079

280,159

TOTAL CURRENT ASSETS

4,633,291

4,210,497

Goodwill and other intangible assets, less accumulated amortization

227,935

201,326

Deferred tax asset

151,042

164,657

Other assets

218,450

173,730

Net property, plant and equipment

486,283

469,150

TOTAL ASSETS

$5,717,001

$5,219,360

LIABILITIES AND EQUITY

CURRENT LIABILITIES

Trade accounts payable

$1,492,041

$1,286,681

Current portion of debt

250,000

Income taxes payable

33,520

35,494

Dividends payable

70,755

64,687

Other current liabilities

261,099

188,511

TOTAL CURRENT LIABILITIES

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