ST. LOUIS, March 10, 2017 /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 2016 with its fifth consecutive year of record net sales and third consecutive year with record net income. In 2016, net sales totaled $6.4 billion, a 4.5 percent increase compared to the previous year. The company also earned net income of $93.0 million, which was a 2.2 percent increase compared to 2015.
"I am proud of our record performance in 2016," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "Over the past several years, we have invested in people, technology and locations to better serve our customers, while acquiring companies that broaden our reach and complement our business. Thanks to these investments and the dedication of our employees, we once again achieved record sales and net income in 2016."
Mazzarella continued, "Our strong performance gives us the financial flexibility to continue investing in growth for the future. As an employee-owned company, we remain focused on strengthening our position as a leader in the supply chain through innovation and exceptional service."
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 290 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/graybar-achieves-record-net-sales-for-fifth-consecutive-year-300421955.html