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Graybar reports hefty increase in first quarter net income

Graybar today reported first quarter 2008 net income of US$18.9 million, a 58.7% over the first quarter of 2007.


May 12, 2008  


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Graybar today reported first quarter 2008 net income of US$18.9 million, a 58.7% over the first quarter of 2007.

Net sales grew 4.8% during the quarter to US$1.28 billion. The company said theincrease is a result of modest growth in electrical market sales coupled with a solid rate of sales growth and competitive performance in the data communications market.

“Our focus on organic growth, expense management and process improvement continues to deliver positive results for the company and its customers,” said Robert A. Reynolds Jr., chairman, president and CEO of Graybar.

He added that Graybar continues to invest in technical resources to help its customers manage the implementation of complex projects such as data centre redesign and energy-efficient facility construction.