Graybar reported that the company finished 2014 with record gross sales of $6.0 billion, a 5.7 percent increase compared to 2013.
“I am proud of our record results last year,” said Graybar’s Chairman, President and CEO Kathleen M. Mazzarella. “Thanks to the dedication of our employees, we achieved record sales in each quarter of 2014, outpacing our record sales performance in 2013 and accelerating our growth throughout the year. This speaks to our passion for serving our customers and working to their advantage.”
The company further reported earning a record net income of $87.4 million for 2014, an increase of 7.9 percent compared to 2013.
Mazzarella added, “We continue to expand our reach by adding new locations and sales personnel as well as enhancing our e-commerce capabilities. Our financial condition remains strong with a solid cash position and working capital that allows us to invest in growing our business for the future.”
Fortune 500 corporation Graybar is a specialist in providing high quality electrical, communications and data networking products, and related supply chain management and logistics services, via its network of more than 260 North American distribution facilities.