SOURCE: Graybar

Graybar

August 02, 2016 15:15 ET

Graybar Reports Record Second Quarter Sales

ST. LOUIS, MO--(Marketwired - August 02, 2016) - Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported record net sales for the second quarter.

Following record net sales in the first quarter of the year, Graybar achieved a second quarter net sales record of $1.6 billion, a 3.9 percent increase compared to the same period last year. Net income for the quarter was $25.6 million, up 2.2 percent from the same period in 2015.

For the first six months of the year, the company reported net sales of $3.1 billion, a 4.5 percent increase compared to the same period last year. Net income for the first six months of the year increased 8.3 percent to $40.7 million.

"Graybar's second quarter performance reflects the strength of our organization and our sustained focus on achieving profitable growth," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "We believe our investments in locations, people and technology are contributing to our positive results. As we look to the future, we will continue to grow our business by providing customers with exceptional service and innovative solutions for building, maintaining and renovating their facilities."

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 more than 260 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.

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