Graybar reports Q1 growth

Electrical and communications product distributor, Graybar, reported net income of $18.9 million – a 58.7% increase over the first quarter of 2007.
By Plant Engineering Staff June 4, 2008

Electrical and communications product distributor, Graybar, which is also known for related supply chain management and logistics services, reported net income of $18.9 million %%MDASSML%% a 58.7% increase over the first quarter of 2007.
Net sales grew 4.8% during the first quarter of 2008 %%MDASSML%% to $1.28 billion %%MDASSML%% compared to the same period in 2007. The company attributes the increase to a modest growth in electrical market sales, coupled with a solid sales growth rate and competitive performance in the data communications market. First-quarter 2008 income from operations rose 22.8% %%MDASSML%% to $30.5 million %%MDASSML%% compared to the first quarter of 2007.