St. Louis, MO-based Graybar, a distributor of electrical, communications and data networking products, reported sales for 2014 of $6 billion, a 5.7 percent increase compared to 2013. Profit increased 7.9 percent to $87.4 million.
"We continue to expand our reach by adding new locations and sales personnel as well as enhancing our e-commerce capabilities," said Kathleen Mazzarella, president and CEO. "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."
Sales in Graybar's construction and industrial and utility verticals increased 5.4 percent and 8.4 percent, respectively, over 2013. Sales in the commercial, institutional and government vertical decreased 0.8 percent.
For the fourth quarter, sales were $1.6 billion, up 11 percent over the same period a year ago. Profit fell 26.5 percent to $16.6 million.