Graybar Electric Co., St. Louis, enjoyed a 5-percent increase in total sales in 2007. The company reported net sales totaling approximately $5.3 billion in 2007, compared to $5 billion in 2006, an increase of $249.2 million.
Net sales to the electrical market increased 3.8 percent, while net sales to the comm/data market increased 8 percent in 2007 over 2006. According to the 10-K report the company filed on March 12 with the U.S. Securities and Exchange Commission (SEC), strong cash flow from operations in 2007 resulted from a 45.4 percent increase in net income.
The report also said the company's year-end cash balances remained near historical highs, and that the company funded its capital expenditures with operational cash flow, while also substantially reducing long-term debt.
WESCO Distribution Inc., Pittsburgh, saw total 2007 revenues increase 12.8 percent, increasing from $5.3 billion in 2006 to $6 billion in 2007. According to the 10K report WESCO filed with the Securities Exchange Commission on Feb. 29, the company believes opportunities exist in the industrial and commercial construction end markets, and that it's well positioned for these market segments.
“Our strong market position, combined with our continued focus on margin, productivity improvement and selling and marketing initiatives, should provide us with a competitive advantage and enable us to perform well throughout 2008,” the report said.
W.W. Grainger Inc., Lake Forest, Ill., set a sales record with net sales of $6.4 billion for 2007, an increase of 9.1 percent compared with its 2006 net sales of $5.9 billion in 2006. Richard L. Keyser, the company's chairman and CEO, said the company would hit its previously announced earnings-per-share targets for 2008.
“While we're aware of the concerns many have with the economic outlook for 2008, we remain comfortable that actions we've taken should allow us to deliver our forecasted 2008 earnings per share of $5.65 to $6 as announced in November 2007,” he said.
The company anticipates total capital expenditures of $175 million to $200 million and intends to continue its investment in the market expansion program and information technology.