Graybar, St. Louis, MO, distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, recently reported third quarter sales were up by 11 percent from the prior-year period. The company had a 98 percent increase in profit for the period.
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Sales through nine months of 2010 increased by 2.4 percent to $3.4 billion and profit rose by 58 percent to $33 million compared with the same period in 2009.
Graybar is No. 6 on MDM's list of the top 25 electrical distributors.
“Our third quarter results were better than expected, and we are pleased to see a positive advance in earnings and sales growth for the second consecutive quarter,” said Robert A. Reynolds, Jr., president and CEO of Graybar. “Graybar has remained financially stable throughout the recent economic downturn. Our financial strength, combined with our investments in inventory, technology and logistics position us for continued growth as we work to our customers’ advantage.”
Graybar has 240 North American distribution facilities.