Graybar profitability continues to rise, reflecting successful long-range strategy

ST. LOUIS, December 6, 2007 – Graybar, one of the nation’s leading distributors of electrical and communications products and related supply chain management and logistics services, reported net income of $66.2 million during the first three quarters of 2007, an increase of 41.7 percent over the same period in 2006.

During the first three quarters of 2007, net sales increased to $3.92 billion, a 4.3 percent increase over the same period in 2006. The net sales increase resulted from organic growth and reflected expansion in the electrical and communications/data markets. In comparison to the first three quarters of 2006, income from operations grew 29.8 percent during the first nine months of 2007.

“Our net income through the third quarter this year is greater by almost $9 million than our annual net income in 2006,” said Robert A. Reynolds Jr., chairman, president and chief executive officer of Graybar.  “Such positive results demonstrate that our long-range strategy is working. Our investments in growth, continuous improvement, people development and technology enhancement are showing a great return. However, it is our customers who are the ultimate beneficiaries of these programs, which provide the foundation for our employee owners to offer exceptional customer service and support.”

As Graybar continues to fulfill its business plan, Reynolds said the company is committed to growing organically and leveraging supply chain efficiencies to produce strong year-end results.