Graybar Reports 2009 Second Quarter Results

Long-term approach drives employee-own company
Financially Strong Graybar continues to invest in IT platform

ST. LOUIS, August 17, 2009 - Graybar, a leading distributor of electrical and communications products and related supply chain management and logistics services, reported net sales of $2.179 billion for the first two quarters of 2009, a decrease of 19.4 percent compared to the first half of 2008. The company also reported $10.8 million in net income for the first six months of 2009, a 77.2 percent decrease from the same period last year. Revenues during the second quarter were down 21.1 percent compared to the same period in 2008. The results for the quarter and the first half of the year were in line with the company's expectations.

Graybar continues to adhere to its strategic plan and long-term view of the business to weather the downturn. "The current economic conditions have severely affected the construction and industrial companies we serve and therefore our overall business," said Robert A. Reynolds, Jr., Graybar's chairman, president and chief executive officer. "However, Graybar is financially strong, stable and focused on growing market share, and we continue to invest in our state-of-the-art technology platform and strengthen our presence in key markets. We believe these investments, along with our efforts to continuously improve the business, will help us work to the advantage of our customers."

Reynolds adds, "This year Graybar celebrates its 140th anniversary as well 80 years of employee ownership; two milestones that illustrate our ability to plan for the long term in a variety of economic conditions. In these very challenging times, our stable financial condition is critical to our customers, suppliers and employee owners. Our track record shows the strength of our company and our ongoing commitment to the markets we serve."