ST. LOUIS — Graybar reported net sales of $1.5 billion for the third quarter of 2013, an increase of 7% compared to the same period in 2012. Net sales for the first nine months of the year increased 4.6% to $4.2 billion. The company also reported $29 million in net income for the quarter, a 43.1% increase from the same period last year. Net income for the first nine months of the year decreased 26.1% compared to 2012, primarily due to gains from the sale of company properties in the second quarter of last year.
“We continue to drive profitable growth by working to our customers’ advantage and focusing our resources to achieve positive results,” said Kathleen M. Mazzarella, Graybar’s chairman, president and chief executive officer. “Our strong balance sheet has allowed us to open nine new locations so far this year and invest in strategic growth initiatives that are important to our long-term success.”Tagged with tED