Graybar Reports 2009 Results

Graybar Electric Co., St. Louis, said its net sales were $4.38 billion in 2009, a decrease of 18.9 percent compared to 2008. The company also posted net income of $37.4 million, down 57.3 percent, from the previous year. “While conditions were some of the most difficult in business history, our performance in 2009 resulted from hard work, a disciplined approach to managing our business and a consistent focus on our long-term strategy,” said Robert Reynolds, Jr., the company's chairman, president and CEO. “We achieved profitability and finished the year with low debt levels and a strong cash position. This prepares us for growth as the economy recovers.”