Graybar Electric Co., St. Louis, posted 19.7-percent growth in the first half of 2006 with $2.45 billion in sales, compared to the same period last year. The company also reported an operating income increase of 68 percent over the first half of 2005.
“Our revenues are up nearly 20 percent, and we only increased head count five percent, mostly in customer-facing roles,” said Robert Reynolds, Jr., Graybar’s chairman, president and CEO. He said the growth was completely organic, and credited company’s employee-owners, a successful ERP implementation, the expansion of the electrical and telecommunications sectors and an improved corporate-accounts program.
“Graybar employees worked incredibly hard during the recent economic downturn, preparing for the opportunities now in front of us,” said Reynolds. “Our SAP system now links our branch, zone and district facilities nationwide, increasing our ability to react faster and anticipate changes in the market. This investment is now paying off with unprecedented asset and supply chain management,” said Reynolds. “It allows us to focus our efforts more directly on customer satisfaction and achieving healthy growth.”
With 2005 revenues of $4.2 billion, 6,000 employees and 370 locations, Graybar was ranked as the second largest distributor on Electrical Wholesaling Top 200 listing.