Graybar 3Q Sales Increase 7%

Net income for the first nine months of the year decreased 26.1% compared to 2012, primarily due to gains from the sale of company properties in the second quarter of last year.

St. Louis, MO โ€“ Graybar reported net sales of $1.5 billion for the third quarter of 2013, an increase of 7% compared to the same period in 2012. Net sales for the first nine months of the year increased 4.6% to $4.2 billion. The company also reported $29 million in net income for the quarter, a 43.1% increase from the same period last year. Net income for the first nine months of the year decreased 26.1% compared to 2012, primarily due to gains from the sale of company properties in the second quarter of last year.

โ€œWe continue to drive profitable growth by working to our customersโ€™ advantage and focusing our resources to achieve positive results,โ€ said Kathleen M. Mazzarella, Graybarโ€™s chairman, president and chief executive officer. โ€œOur strong balance sheet has allowed us to open nine new locations so far this year and invest in strategic growth initiatives that are important to our long-term success.โ€

 

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