ST. LOUIS, Nov. 4, 2014 (GLOBE NEWSWIRE) -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported record net sales for the third quarter and the first nine months of the year.
For the third quarter of 2014, Graybar achieved record net sales of $1.57 billion, an increase of 5.6 percent compared to the same period in 2013. The company also reported $30.5 million in net income for the quarter, a 6.4 percent increase from the same period last year.
For the first nine months of the year, Graybar reported record net sales of $4.40 billion, a 3.8 percent increase from the same period last year. Net income for the first nine months of the year increased 21.1 percent to $70.8 million.
"We achieved record results for the third consecutive quarter, which is a testament to our employees and how they work to our customers' advantage," said Kathleen M. Mazzarella, Graybar's chairman, president and chief executive officer. "Graybar continues to execute its strategic plan by opening additional locations and expanding our sales organization. We are also enhancing our e-commerce capabilities to improve the customer experience. We believe these investments will help drive profitable growth and our long-term success."
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 250 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.
CONTACT:Tim Sommer
(314) 573-2571 timothy.sommer@graybar.com
Kara Bowlin
(314) 573-2578
kara.bowlin@graybar.com