Posted May 11, 2011
Graybar sales up 18.6%
Graybar reported its first quarter sales were $1.191 billion, 18.6 percent higher compared to the same period last year.
Net income for the quarter grew to $11.5 million, 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."
