Graybar Reports Third Quarter Results

Company Achieves Record Net Income of $32.5 Million for the Quarter

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Nov 07, 2011, 05:23 ET

ST. LOUIS, Nov. 7, 2011 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported record-setting net income of $32.5 million for the third quarter of this year, along with net sales of $1.45 billion, an increase of $208.7 million, or 16.7 percent, over the third quarter of 2010.

Net sales for the first nine months of the year reached $4.01 billion, an increase of $634.8 million, or 18.8 percent, compared to the same period last year. Net income for first three quarters of the year grew to $68 million, a 106.8 percent increase compared to the same period in 2010.

"We continue to achieve strong organic growth and have set two monthly sales records this year," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "Our positive earnings performance reflects the decisions we made before, during and after the economic downturn to focus on our long-term strategy and 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