Graybar Improves Profitability In First Half Of 2007

Aug. 30, 2007
Graybar, St. Louis, reported $2.56 billion net sales in the first six months of 2007, an increase of 5.1 percent over the same period in 2006.

Graybar, St. Louis, reported $2.56 billion net sales in the first six months of 2007, an increase of 5.1 percent over the same period in 2006.

Net sales improved along with moderate growth in the electrical and communications/data markets. In comparison to the first half of 2006, income from operations grew 25.5 percent and net income rose 37.4 percent during the first six months of 2007 to $76.4 million and $39.7 million, respectively.

“Our efforts to work more efficiently are producing positive results, and we continue to leverage our investment in technology,” said Robert Reynolds Jr., chairman, president and chief executive officer of Graybar. Reynolds said Graybar’s employee-owners continue to find more ways to use the company’s ERP system. Reynolds said Graybar’s commitment to organic growth, continuous improvement and the advanced use of technology will help the company build on its success through the rest of 2007.