Graybar 2009 Sales Down 18.9%

Graybar, St. Louis, MO, a distributor of electrical and communications products, reported sales for 2009 were $4.38 billion, down 18.9% compared to 2008. Profit declined 57.3% to $37.4 million.

For the fourth quarter, sales were $1.07 billion, a decrease of 14.4% from the prior year period. Profit was down 19.5% to $16.5 million.

"While conditions were some of the most difficult in business history, our performance in 2009 resulted from hard work, a disciplined approach to managing our business and a consistent focus on our long-term strategy," said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. "We achieved profitability and finished the year with low debt levels and a strong cash position. This prepares us for growth as the economy recovers."

In 2009, Graybar celebrated the 140th anniversary of the company's original founding in 1869 as well as 80 years of employee ownership.