ST. LOUIS, March 8, 2012 /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 2011 with net sales of $5.37 billion, which was a 16.4 percent increase compared to 2010. The company also reported net income of $81.4 million, up 93.9 percent from the previous year. Net sales for the fourth quarter were 10.0 percent higher than the same period in 2010.
"Our success in 2011 resulted from a strong sales performance along with a consistent focus on executing our strategy," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "Thanks to the hard work and dedication of our employees, Graybar achieved profitable growth during each of the past two years. Our business continued to gain momentum as we broadened our reach and further deepened our offer in the marketplace."
Reynolds added, "Graybar's financial condition remains very strong with low debt levels, a healthy cash position and higher shareholders' equity from positive earnings. We have the people, the plans and the financial flexibility to work to our customers' advantage and achieve profitable growth in 2012 and beyond."
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 nearly 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.