Graybar Reports Second Quarter Results

Net Income Rises 151 Percent, Revenue Grows 21 Percent

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Aug 10, 2011, 10:19 ET

ST. LOUIS, Aug. 10, 2011 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, posted quarterly results showing sales growth of 21.2 percent, along with a 151 percent increase in quarterly net income. Sales for the first six months of the year reached nearly $2.6 billion, an increase of 20 percent as compared to the same period last year. Net income for first half of the year grew to $35.4 million, a 172 percent increase for the same period in 2010.

"With another quarter of strong sales and earnings growth, we outperformed the economy as a whole," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "We have seen growth opportunities across all of the markets we serve, and June was the best sales month in our company's history. Graybar's performance comes from our consistent execution of the company's strategy, which includes investments in our logistics platform, technology, and most importantly, the development of our employees. This long-term approach drives our company's success as we work to our customers' advantage."

Graybar, 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 data 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, helping its customers power, network and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

SOURCE Graybar