Graybar’s 3Q sales rise 6.2 percent
Industrial Distribution staff -- Industrial Distribution, 11/11/2008 10:12:00 AM
Third-quarter sales for Graybar rose 6.2 percent to $1.45 billion, compared with $1.36 billion during the third quarter of 2007.
Net income during the first nine months of 2008 rose 1.1 percent for the St. Louis-based electrical and MRO distributor, reaching $66.9 million, a 1.1 percent increase over the $66.2 million posted during the same period last year.
“While economic conditions are uncertain, our organic growth strategy continues to produce solid business results,” chairman, president and CEO Robert Reynolds Jr. said. “Our low debt levels and strong financial position should allow Graybar to weather an economic slowdown and emerge with greater market share. It's during challenging times that our investments in people and technology will provide clear advantages for our customers and the company.”
Graybar ranked seventh on INDUSTRIAL DISTRIBUTION's 2008 Top 10 Electrical Distributors list, with 2007 sales of $5.25 billion.
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