8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): January 23, 2009

Genuine Parts Company
__________________________________________
(Exact name of registrant as specified in its charter)

Georgia	001-05690	58-0254510
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
2999 Circle 75 Pkwy, Atlanta, Georgia		30339
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 770.953.1700

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On January 23, 2009, Genuine Parts Company issued a press release announcing its expectations of sales and diluted earnings per share for fiscal year ended December 31, 2008. Sales are expected to increase approximately 2% as compared to fiscal year ended December 31, 2007 and anticipates reported diluted earnings per share in the range of $2.85 to $2.90. A copy of the press release is furnished with this Current Report on Form 8-K as exhibit 99.1.

The information, including the exhibits attached hereto contained in this Current Report on Form 8-K of Genuine Parts Company is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02, Item 8.01 and Item 9.01 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the S ecurities Act of 1933, as amended, or into any filing or other document pursuant to the Securities Exchange Act of 1934, as amended, except as otherwise expressly stated in any such filing.

Item 8.01 Other Events.

The Board of Directors of Genuine Parts Company declared an increase of 3% in the regular quarterly cash dividend for 2009. The Board increased the cash dividend payable to an annual rate of $1.60 per share compared with the previous dividend of $1.56 per share. The quarterly cash dividend of $.40 cents per share is payable April 1, 2009 to shareholders of record March 6, 2009.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated January 23, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Genuine Parts Company
January 23, 2009	By:	Jerry W. Nix
		Name: Jerry W. Nix
		Title: Vice Chairman and CFO

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated January 23, 2009

EX-99.1

FOR IMMEDIATE RELEASE

Contact: Jerry W. Nix, Vice Chairman and CFO
(770) 612-2048

GENUINE PARTS COMPANY
UPDATES 2008 SALES AND EARNINGS EXPECTATIONS
~ Announces Dividend Increase for 53^rd Consecutive Year ~

Atlanta, Georgia, January 23, 2009 — Genuine Parts Company (NYSE: GPC) announced today that it now expects full year 2008 sales to increase approximately 2% compared to fiscal 2007, and anticipates reporting diluted earnings per share in the range of $2.85 to $2.90. This range includes a charge of approximately $0.07 per diluted share related to the reduced investment value in the Company’s retirement plan. The Company previously expected full year 2008 sales to increase approximately 3% compared to fiscal 2007 and earnings per share to fall in the range of $3.12 to $3.18. Genuine Parts expects to release final fourth quarter and full year 2008 results on February 17, 2009.

Thomas C. Gallagher, Chairman, President and Chief Executive Officer, commented, “The fourth quarter of 2008 proved to be challenging for our Company. As we progressed through the quarter, demand began to significantly weaken across all our business segments, reflecting the effects of reduced consumer spending, declining industrial production and capacity utilization and higher unemployment. Towards this end, we are taking the necessary steps to adjust the expense side of our business, while continuing to pursue all revenue opportunities.”

Mr. Gallagher concluded, “The near term economic conditions have our full attention. However, the underlying fundamentals in each of our businesses remain positive and we believe that current efforts to improve our operating performance will further strengthen our market leadership position. Our balance sheet remains strong and the Company continues to generate solid cash flows, providing us with many opportunities across our diversified platform. In addition, we remain committed to maximizing our return to shareholders via increasing our cash dividend and opportunistically repurchasing shares of our common stock.”

The Company is currently in the process of finalizing its results for fiscal 2008 and, as such, there can be no assurance that actual sales and diluted earnings per share for fiscal 2008 will not be different from the expectations disclosed in this release.

Dividends Increased for 2009

In additional news, the Board of Directors of Genuine Parts Company declared an increase of approximately 3% in the regular quarterly cash dividend for 2009. The Board increased the cash dividend payable to an annual rate of $1.60 per share compared with the previous dividend of $1.56 per share. The quarterly cash dividend of forty cents ($.40) per share is payable April 1, 2009 to shareholders of record March 6, 2009. GPC has paid a cash dividend every year since going public in 1948 and 2009 marks the 53^rd consecutive year of increased dividends paid to shareholders.

About Genuine Parts Company

Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada and Mexico. The Company also distributes industrial replacement parts in the U.S. and in Canada through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes product nationwide in the U.S. and in Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S. and in Canada and Mexico. Genuine Parts Company had 2007 revenues of $10.8 billion.

Forward Looking Statements

Some statements in this release, 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 our 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 include, but are not limited to, changes in general economic conditions, the growth rate of the market for the Company’s products and services, the ability to maintain favorable supplier arrangements and relationships, competitive product and pricing pressures, including internet related initiatives, the effectiveness of the Company’s promotional, marketing and advertising programs, changes in laws and regulations, including changes in accounting and taxation guidance, the uncertainties of litigation, as well as other risks and uncertainties discussed from time to time in the Company’s 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 Form 10-Q, 10-K, 8-K and other reports to the SEC.