Graybar Reports Strong First Quarter Results

Net Income Rises 226.9 Percent, Revenue Grows 18.6 Percent

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May 11, 2011, 11:06 ET

ST. LOUIS, May 11, 2011 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported its first quarter results. Sales for the first three months of the year were $1.191 billion and increased 18.6 percent compared to the same period last year. Net income for the quarter grew to $11.5 million or a 226.9 percent increase from the same period in 2010.

"We are very pleased by our earnings increase for the first quarter," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "Our business continues to gain momentum and we see significant opportunities for growth in the months to come. With our strong financial condition, dedicated employees and proven track record, Graybar is well positioned to deliver the reliable service and innovative solutions that 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