Graybar Achieves Near-Record Profitability in 2012
ST. LOUIS, March 14, 2013 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported today that the company finished 2012 with net sales of $5.4 billion, which was a 0.7 percent increase compared to 2011. The company also reported net income of $86.3 million, up 6.0 percent from the previous year and the second highest total in the company's history. Net sales for the fourth quarter were 0.3 percent higher than the same three month period in 2011.
"Graybar finished 2012 with positive results as we embraced change and prepared our organization for the future," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "We achieved sales growth for the third consecutive year, and we achieved near-record profitability for our employees and shareholders."
Mazzarella added, "We managed our business wisely last year and our balance sheet remains in excellent condition. This gives us the financial flexibility to pursue growth opportunities and continue working to the advantage of our customers."
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 240 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.