Graybar Reports Record Income

Graybar Electric Co., St. Louis, reported record-setting net income of $32.5 million for the third quarter, along with net sales of $1.45 billion, an increase of $208.7 million, or 16.7 percent, over the third quarter of 2010. Net sales for the first nine months of the year reached $4.01 billion, an increase of $634.8 million, or 18.8 percent, compared to the same period last year. Net income for first three quarters of the year grew to $68 million, a 106.8% increase compared to the same period in 2010.