Graybar, a St. Louis, Mo.-based distributor of electrical, communications, and data networking products, reported record net sales of $1.3 billion for the first three months of 2014, a 2.3 percent increase compared to the same period last year. Graybar’s net income for the quarter was $11.3 million, a 42.5 percent increase from the first quarter of 2013.
“I am pleased with our strong start to the year as we overcame the severe winter weather to drive positive results,” said Kathleen M. Mazzarella, chairman, president, and CEO, in a press release. “We continue to invest in our business by opening new locations, expanding our sales organization and enhancing our e-commerce capabilities. We have a strong footprint in the marketplace, and our long-term growth efforts remain focused on working to our customers’ advantage.”Tagged with tED