Graybar Sales Up 6.3% in Second Quarter - Modern Distribution Management

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Graybar Sales Up 6.3% in Second Quarter

Profit for the electrical and data/comm distributor fell nearly 50 percent in the quarter.

Graybar, St. Louis, MO, No. 4 on MDM's list of top electrical distributors, reported second-quarter sales were $1.5 billion, up 6.3 percent over the same period a year ago. Profit decreased 48.8 percent to $21.9 million.

Sales to the electrical market sector increased 9.4 percent, while net sales to the data/comm market sector decreased 0.8 percent.

“While comparative net income for the quarter was impacted by the sale of company properties in the second quarter of 2012, our financial condition remains strong," said Kathleen M. Mazzarella, president and CEO. "In the coming months, we will continue to expand our geographic reach and enhance our capabilities for the advantage of our customers and suppliers.”

For the six months ended June 30, sales were $2.8 billion, up 3 percent over the first half of 2012. Profit fell 50 percent to $29.9 million. Sales to the electrical market sector increased 5.4 percent, while sales to the data/comm sector decreased 1.5 percent.

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