ST. LOUIS, March 12, 2015 (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 2014 with record gross sales of $6.0 billion, a 5.7 percent increase compared to 2013. The company also earned record net income of $87.4 million, an increase of 7.9 percent compared to 2013.
"I am proud of our record results last year," said Graybar's Chairman, President and CEO Kathleen M. Mazzarella. "Thanks to the dedication of our employees, we achieved record sales in each quarter of 2014, outpacing our record sales performance in 2013 and accelerating our growth throughout the year. This speaks to our passion for serving our customers and working to their advantage."
Mazzarella added, "We continue to expand our reach by adding new locations and sales personnel as well as enhancing our e-commerce capabilities. 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."
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 260 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 firstname.lastname@example.orgSource:Graybar Electric