Graybar www.graybar.com, a distributor of electrical and communications products and related supply chain managemen...
March 11, 2009
Graybar www.graybar.com, a distributor of electrical and communications products and related supply chain management and logistics services, announced today the company achieved record 2008 revenues and profits in the midst of widespread economic uncertainty and a challenging business climate.
Net sales exceeded US$5.40 billion during 2008, an increase of nearly US$141 million, or 2.7%, over 2007.
The company also posted net income of more than US$87.4 million, up US$3.9 million, or 4.8%, from the previous year.
“The economic challenges of 2008 aligned our entire organization around a shared strategy,” said Robert Reynolds Jr., chairman, president and CEO of Graybar. “We focused on achieving profitable organic growth and improving our performance, which produced record results for the second year in a row.”