Graybar Reports Strong First Quarter Results

Graybar Electric Co., St. Louis, said sales for the first three months of the year were $1.191 billion and increased 18.6 percent compared to the same period last year. Net income for the quarter grew to $11.5 million or a 226.9 percent increase from the same period in 2010. “We are very pleased by our earnings increase for the first quarter,” said Robert A. Reynolds, Jr., chairman, president and chief executive officer of Graybar. “Our business continues to gain momentum and we see significant opportunities for growth in the months to come.”