Net Income Rises 41.9 Percent on a 7.8 Percent Increase in Revenue
St. Louis, MO - Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported its first quarter results. Sales for the first three months of 2012 were $1.28 billion, an increase of 7.8 percent compared to the same period last year. Net income for the quarter grew to $16.4 million, a 41.9 percent increase from the first quarter of 2011.
"Our year is off to a good start in 2012, and we are pleased by our first quarter performance," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "We continue to grow our business by investing in our people, expanding our footprint and enhancing our capabilities. We are excited about the opportunities for further growth as we deliver innovative services and solutions that work to our customers' advantage."