ST. LOUIS, March 13, 2014 (GLOBE NEWSWIRE) -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, reported today that the company finished 2013 with record net sales of $5.7 billion, a 4.5 percent increase compared to 2012.
The company also earned net income of $81.1 million, a decrease of 6.1 percent compared to the previous year. This comparative decrease was primarily due to gains from the sale of company properties in 2012.
"Graybar's solid performance in 2013 demonstrates a consistent focus on serving our customers and growing our business," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "Last year, we expanded our reach by opening 14 new locations, enhanced our product and service offering and invested in our employees. We are proud of our achievements for the year and believe our investments in 2013 will contribute to Graybar's continued success in 2014 and beyond."
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 240 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.
CONTACT: Kara Bowlin 314-573-2578 Kara.Bowlin@graybar.comSource:Graybar Electric