Graybar's income jumps 20 percent in first half

The second quarter showed a slight uptick in sales and 14 percent income growth.

Net income for Graybar jumped 20 percent in the first half of 2010 compared to the same period in 2009, the company recently reported. The company said its second-quarter sales increased just slightly and its net income for the quarter was up 14 percent over last year.

Graybar's chairman, president and CEO Robert A. Reynolds Jr. said the second-quarter numbers "show that business is gaining momentum. Because of the company's strong financial position, we can continue to focus on working to the advantage of our customers and expanding our presence in key markets."

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