New York-based automotive replacement parts manufacturer Standard Motor Products has reported consolidated net sales of $148.9 million for the fourth quarter of 2008, compared to consolidated net sales of $167.3 million during the same period of 2007.
 
The company has reported losses from continuing operations of $5.5 million, or $0.29 per diluted share for the fourth quarter 2008 compared to loss of $3.6 million or $0.20 per diluted share in the fourth quarter 2007.
 
Consolidated net sales for full year 2008 were $775.2 million, compared to consolidated net sales of $790.2 million for full year 2007. Losses from continuing operations for full year 2008 were $2 million or $0.11 per diluted share, compared to earnings of $11.4 million or $0.61 per diluted share for full year 2007.
 
Lawrence Sills, Chairman and CEO of Standard Motor, said: "Sales in the fourth quarter were down 11%, consistent across all divisions, continuing a decline that began in September. As a result, though we had been running slightly above 2007 for three quarters, we wound up 2% below 2007 for the full year.”