Posted March 9, 2011
Graybar sales up 15 percent
Graybar said it finished 2010 with fourth quarter sales growth of almost 15 percent when compared to the same quarter in 2009.
Sales for the year increased 5.4 percent to $4.6 billion. The company also reported net income of $42.3 million, up 12.9 percent from the previous year.
"Like many businesses, we were unsure what to expect from the economy at the beginning of 2010. After a slow start, momentum began to build in our markets and we capitalized on this opportunity. I am very proud of how our employees focused on serving our customers to achieve growth," said Robert A. Reynolds Jr., chairman, president and chief executive officer.
He said the St. Louis-based company's financial condition remains stable, with low debt levels and higher earnings. "The company is well positioned for anticipated growth in 2011 as we continue to work to our customers' advantage," Reynolds said.
Graybar is a distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services.
