ST. LOUIS, Aug. 7, 2014 (GLOBE NEWSWIRE) -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported record net sales for the second quarter and the first six months of the year.
For the second quarter of 2014, Graybar achieved record net sales of $1.52 billion, an increase of 3.4 percent compared to the same period in 2013. The company also reported $29.0 million in net income for the quarter, a 32.7 percent increase from the same period last year.
For the first six months of the year, Graybar reported record net sales of $2.83 billion, a 2.9 percent increase from the same period last year. Net income for the first six months of the year increased 35.3 percent to $40.4 million.
"We had a record start to our year thanks to our continued investments in new locations, sales force expansion and enhanced e-commerce capabilities," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "We remain focused on working to our customers' advantage, driving profitable growth and executing our long-term strategic plan."
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 250 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.
Kara Bowlin (314) 573-2578