For the second quarter of 2014, the distributor says it achieved record net sales of $1.52 billion, an increase of 3.4 percent compared to the same period in 2013. The company also reported $29.0 million in net income for the quarter, a 32.7 percent increase from the same period last year.
For the first six months of the year, Graybar reported record net sales of $2.83 billion, a 2.9 percent increase from the same period last year. Net income for the first six months of the year increased 35.3 percent to $40.4 million.
“We had a record start to our year thanks to our continued investments in new locations, sales force expansion and enhanced e-commerce capabilities,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “We remain focused on working to our customers’ advantage, driving profitable growth and executing our long-term strategic plan.”
Graybar is one of North America's top distributors of electrical, communications and data networking products and related supply chain management and logistics services.