UPDATE: Genuine Parts Q4 Earnings Meet Views

reported in-line earnings for the fourth quarter. The Atlanta, Georgia-based company posted quarterly earnings of $166 million, or $1.07 per share, compared to $150 million, or $0.97 per share, in the year-ago period. Its revenue rose 9% to $3.82 billion. However, analysts were expecting earnings of $1.07 per share on revenue of $3.73 billion. The company's board raised quarterly dividend to $0.615 per share. Tom Gallagher, Chairman and Chief Executive Officer, said, "The Company showed progress in a number of key areas in 2014 and we are proud of the GPC Team's accomplishments. With that said, we recognize there is still room for further improvement in our operations as we move forward. To this end, 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. Progress in each of these important areas will keep the Company moving ahead and will help to ensure another successful year in 2015." Genuine Parts shares gained 1.02% to $98.00 in pre-market trading.