Graybar Reports 2010 First Quarter Results

Company achieves 42 percent earnings increase

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May 17, 2010, 03:04 ET

ST. LOUIS, May 17 /PRNewswire/ -- Graybar, a leading distributor of electrical and communications products and provider of related supply chain management and logistics services, reported a 42 percent increase in net income for the first quarter of 2010. Sales declined slightly for the quarter and in line with expectations.

"We are pleased by our earnings increase for the first quarter," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "The company is in great financial condition with low debt levels and a strong cash position, allowing us to focus on the long-term health of the organization and prepare for future growth."

Graybar Electric Company, Inc., a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and networking products, and specializes in related supply chain management and logistics services. Through its network of nearly 240 North American distribution facilities, it stocks and sells products from thousands of manufacturers, serving as the vital link to hundreds of thousands of customers. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

SOURCE Graybar