Graybar, St. Louis, MO, distributor of electrical and communications products and related supply chain management and logistics services, reported sales grew 4.8% in the first quarter 2008 to $1.28 billion from the same period a year ago. Profit was $18.9 million, a 58.7% increase.
The increase was due to modest growth in electrical market sales coupled with a solid growth in the data communications market.
During this economic slowdown, we see customers leveraging our distribution services more than ever to lower their total cost of ownership," said Robert A. Reynolds Jr., president and CEO of Graybar.
Reynolds added that Graybar continues to invest in technical resources to help its customers manage the implementation of complex projects such as data center redesign and energy-efficient facility construction.
"We understand these opportunities, especially where it relates to power, energy conservation and faster completion to take advantage of cost savings," Reynolds said.