Graybar Reports Third Quarter Results
ST. LOUIS, Nov. 9, 2012 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported net sales of $1.4 billion for the third quarter of 2012, a decrease of 4.7% compared to the same period in 2011. Net sales for the first nine months of the year increased 0.9% to $4 billion. The company also reported $20 million in net income for the quarter, a 38.5% decrease from the same period last year, while nine month net income increased 16.4% to $79 million.
"We remain focused on serving our customers and executing our strategy," said Kathleen M. Mazzarella, Graybar's president and chief executive officer. "While our third quarter results were less than the same period last year, we continue to invest in several innovative programs that will work to the advantage of our customers and suppliers. Our financial condition is strong and our entire organization is driven to achieve profitable growth for the long term."
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.