Net sales in the first quarter at Graybar were $1.28 billion, according to the company’s recent filing with the SEC. That’s up 7.8% over 2011’s Q1. Additionally, the company’s gross margin was reported as 19.28% in the most recent quarter, up from 19.03% last year.
To put the numbers differently, Graybar’s Q1 sales were $93.1 million higher than in the same period last year. The company generated $20.9 million in additional gross margin.
Other news from the 10-Q filing with the SEC:
- The company paid down its long-term debt to below $10 million.
- Receivables declined $66 million from Dec. 31, 2011, while cash/cash equivalents ran up almost $30 million.
- Graybar had leased five of its distribution facilities (through June 2013) from a “Variable Interest Entity.” In the 10-Q, the company said that in March it had expended almost $29 million to terminate the deal.
Other Graybar news:
- Company headquarters in Clayton, Mo. was awarded EPA Energy Star certification. According to a news release “Graybar completed building enhancements including a lighting retrofit with controls upgrade and daylight harvesting as well as the installation of high-efficiency boilers, upgraded HVAC controls and a full HVAC retrocommision process.”
- A new 55,000 square-foot Graybar facility in Tucson, Ariz. was built to LEED standards. Featured below is a photo provided by the company in September, at the facility’s groundbreaking.
Above: Caption provided by Graybar; photo taken at the Tucson facility’s groundbreaking. : From left: Tucson Branch Manager Bob Trolander, Director, Corporate Real Estate Development Jeff Netherton, Tucson Sales Manager Bruce Osburn and Phoenix District Vice President Craig Mead.
- CommScope was recently honored with a Graybar Supplier Excellence Award. Kathy Mazzarella, Graybar’s executive vice president and CEO said, “They go the extra mile for Graybar and always find a way to strategically and creatively work with us to win business.”