Boston, MA 05/12/2014 (wallstreetpr) – The $949 million manufacturer and distributor motor of vehicle replacement parts Standard Motor Products, Inc. (NYSE:SMP) has once again won an industry award. The company won the Outstanding Vendor award from Federated Auto Parts for the third consecutive year.
The award speaks volumes about the company’s quality products and services and puts it in a good position to continue attaining growth. The award also cements customer and investor confidence in the company.
The award was present in Phoenix, Arizona, during the annual awards dinner. The Federated Auto Parts CEO Rusty Bishop presented the award to the management of Standard Motor Products, Inc. (NYSE:SMP).
According to Mr. Bishop, SMP received the most votes this year from the members of Federated Auto Parts, thus, facilitating the recognition that comes three times in a row for the company. The top award is, therefore, an impressive achievement on the side of Standard Motor Products, Inc. (NYSE:SMP), its management and shareholders.
In addition to the Outstanding Vendor award, Federated also presented various other industry awards at the annual awards dinner.
Counting on quality
Standard Motor Products, Inc. (NYSE:SMP) counts on its delivery of quality products to capture, retain and penetrate the market. The company also looks to introduction of new products as a strategy to increase revenue generation and also achieve sustainable revenue stream in addition to keeping competition at bay.
The latest quarter reveals some interesting aspects of SMP and why the company expects to register a positive performance throughout 2014.
1Q2014 performance
Standard Motor Products, Inc. (NYSE:SMP) reported 1Q2014 results that topped a year earlier performance. It reported consolidated net sales of $232.8 million against $230.7 million in the same period a year earlier. The earnings from continuing operations in the latest quarter were $12.4 million or 53 cents. That compared with $9.6 million or 41 cents per share in the same quarter of 2013.
The performance improvement in the latest quarter was supported by gain of market share and the continued curb on costs and expenses.
