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Graybar Reports First Quarter Results
May 10, 2013 (12:05 PM EDT)
ST. LOUIS, May 10, 2013 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported that net sales for the first three months of 2013 were $1.3 billion, an increase of 0.2 percent compared to the same period last year. Net income for the quarter was $7.9 million, a 51 percent decrease from the first quarter of 2012.
"Although the first quarter was challenging, we remain optimistic about our growth opportunities for the future," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "We invested in growth by opening five new locations so far this year. In the months to come, we plan to add more locations and capabilities that will extend our reach and work to the advantage of our customers."
Graybar Electric Company, Inc., 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 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, serving as the vital link to hundreds of thousands of customers. For more information, visit www.graybar.com or call 1-800-GRAYBAR.