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Graybar Announces Record 2024 Financial Results

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Reports Record $11.6 Billion in 2024 Net Sales

Celebrates 100th Anniversary as Independent Company in 2025

ST. LOUIS, March 13, 2025 /PRNewswire/ — Graybar, a leading distributor of electrical, industrial, automation and connectivity products and provider of related supply chain management and logistics services, today announced its 2024 financial results.

Graybar, which is celebrating its 100th anniversary as an independent company this year, reported a record $11.6 billion in 2024 net sales, an increase of 5.5% over the prior year. The company has achieved record net sales in 12 of the past 13 years, with the exception occurring in 2020 due to the global pandemic.

Graybar reported $423.1 million in net income in 2024, the third highest net income in the company’s history. Net income declined by 8.7% over 2023, predominantly due to the company’s significant investments in Graybar Connect, a multi-year, strategic business transformation project detailed below.

“Graybar’s record sales performance in 2024 demonstrates our ability to deliver continued profitable growth while investing in our future,” said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. “Employee ownership underpins this long-term mindset and is critical to everything we do. This approach has been a consistent aspect of our culture since Western Electric spun off Graybar as a separate business in 1925. Graybar’s employees purchased the company in 1929, and we have been 100 percent owned by our employees and retirees ever since. At a time when American businesses are frequently bought and sold by investors on public markets, Graybar’s consistent structure stands apart. We do business the right way, deliver on our promises and always look to leave our company better than we found it.”

During 2024, Graybar invested in its future through several key initiatives, including:

Invested for profitable, diversified growth through acquisitions, including Blazer Electric Supply, an electrical distributor in Colorado, Dynamic Solutions in California (through subsidiary Valin Corporation) and Power Supply Company in Tennessee (through subsidiary Cape Electrical Supply).

Invested in advanced technology through Graybar Connect, a multi-year project focused on transforming the company’s technology, data, processes and organization. After several years of investments, Graybar plans to launch a new core ERP system in 2025. This represents the company’s first major milestone toward reimagining its operating model and process framework. As the new system provides employees with advanced capabilities and analytics, it also sets the stage for future phases of the project, all with the goal of supporting long-term growth, improved profitability and an enhanced customer and employee experience.

Invested in the next generation of leaders, with key leadership appointments across its regional business units, as well as Sales, Operations, Strategic Planning and Customer Experience. The company knows that strong leadership is vital to its long-term success and continues to prepare its managers to step into roles of greater responsibility across the organization.

Mazzarella concluded, “Today’s business environment is more complex and uncertain than ever before. The pace of change continues to accelerate, and sustaining our leadership position requires us to strategically invest in our future through initiatives like Graybar Connect. Graybar’s strong balance sheet gives us the financial flexibility to manage through challenges, while we capitalize on opportunities in new markets, new customers, new technologies and of course, acquisitions.”

About Graybar
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, industrial, automation and connectivity products, and specializes in related supply chain management and logistics services. Through its network of 350 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.

Media Contact:
Tim Sommer
(314) 578-7672
timothy.sommer@graybar.com

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Smartkem to Participate at SEMICON® China 2025

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MANCHESTER, England, March 19, 2025 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, announced it will participate at SEMICON® China, being held at the Shanghai New International Expo and taking place on March 26-28, 2025.

Smartkem’s Head of Business Development Michelle Ouyang will be in attendance throughout the conference to explore potential customer engagements and will be available for 1-on-1 meetings with industry representatives. To arrange a meeting, please contact Michelle at m.ouyang@smartkem.com

For more information on SEMICON China, please visit: SEMICON China信息网站

About Smartkem
Smartkem is seeking to change the world of electronics with a new class of transistor using its proprietary advanced semiconductor materials that have the potential to revolutionize the display industry. Smartkem’s TRUFLEX® semiconductor technology enables low temperature printing processes that are compatible with existing manufacturing infrastructure with the potential to deliver low-cost, high performance displays in a range of display technologies including microLED, miniLED and AMOLED, as well as applications in sensors and logic.

Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 17 patent families, 17 pending patents and 40 codified trade secrets. For more information, visit our website or follow us on LinkedIn.

Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on Smartkem, Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or elated expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Contacts: 
Selena Kirkwood
Head of Communications for Smartkem 
T: +44 (0) 7971 460 364
s.kirkwood@smartkem.com

U.S. Investors 
David Barnard, CFA 
Alliance Advisors Investor Relations 
T: 1 415 433 3777 
dbarnard@allianceadvisors.com

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FRONTSTEPS FORWARD 2025: THE DEFINITIVE EVENT SHAPING THE FUTURE OF COMMUNITY MANAGEMENT

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The Must-Attend Event for Community Management Leaders, Showcasing AI, Automation, and the Future of Property Technology

VAIL, Colo., March 19, 2025 /PRNewswire/ — In an era where technology is reshaping how communities are managed, FRONTSTEPS FORWARD 2025 (www.frontstepsforward.com) stands as the premier gathering for industry leaders, property managers, and tech innovators looking to define the future. Hosted by FRONTSTEPS (www.frontsteps.com), the nation’s leading HOA and property management solutions provider, this groundbreaking event will showcase the most cutting-edge advancements in AI-driven automation, cybersecurity, resident engagement, and operational efficiency.

Why FRONTSTEPS FORWARD 2025 is Unmissable
With 370,000 HOAs managing over 74 million residents across the U.S., the industry is at a critical turning point. Aging management systems, rising resident expectations, and increasing compliance challenges demand bold, tech-driven solutions. FRONTSTEPS FORWARD 2025 will be the definitive platform for unveiling the latest innovations and strategic insights to navigate these challenges head-on.

What Attendees Can Expect:

AI & Automation in Property Management – See firsthand how AI is revolutionizing community operations, from predictive maintenance to automated resident services.Exclusive Technology Announcements – Be the first to experience FRONTSTEPS’ latest software advancements designed to improve efficiency and security for community managers.High-Impact Educational Sessions – Expert-led discussions on digital transformation, compliance updates, and cybersecurity for HOAs and property managers.Elite Networking Opportunities – Connect with top executives, real estate innovators, and industry pioneers driving change.Vail: A Premier Event Destination – A unique experience where business meets luxury, offering attendees unparalleled networking opportunities in a breathtaking setting.

Who Should Attend?

Community managers, HOA board members, and property management professionals seeking to implement future-proof strategies.Real estate developers and investors looking to understand how emerging tech will impact community management.Tech innovators and service providers eager to connect with key decision-makers in property management.

Secure Your Spot Now

With limited availability, registration is now open for those ready to shape the future of community management. Sign up today at www.frontstepsforward.com.

About FRONTSTEPS:
FRONTSTEPS is the industry’s leading provider of HOA and property management technology, empowering thousands of communities across the U.S. to streamline operations, enhance security, and improve resident communication. With a strong focus on innovation, FRONTSTEPS continues to drive the evolution of community management technology.

Visit www.frontsteps.com to learn more.

For media inquiries, interviews, or sponsorship opportunities, please contact:

Media Contact: Emily Wigdale
ewigdale@frontsteps.com
(414) 801-1474
FRONTSTEPS

This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com.

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Indero Marks 40th Study Live with Veeva RTSM

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Specialized CRO standardizes on Veeva RTSM to drive operational efficiency and faster study timelines

BARCELONA, Spain, March 19, 2025 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that Indero, formerly Innovaderm Research, successfully launched its 40th RTSM study on Veeva RTSM. By standardizing with Veeva RTSM, Indero has strengthened its clinical trial operations, harnessing advanced RTSM capabilities and expert support to drive efficiency, enhance process consistency, and streamline execution.

“As we continue to optimize our clinical trial operations, Veeva RTSM has driven more efficient processes and closer collaboration to ensure seamless execution,” said Eric Hardy, senior director, biometrics at Indero. “Because of this added speed and effectiveness, we can help bring therapies to market faster, allowing our sponsors, sites, and patients to benefit sooner.”

The launch of Indero’s 40th RTSM study highlights the continued collaboration between the two organizations. Since first adopting Veeva RTSM, Indero has worked closely with Veeva to continuously refine and implement standardized processes that drive long-term success for its clinical trials.

“With its enterprise standard RTSM approach, Indero is achieving greater long-term efficiency and reliability in their studies,” said Steve Simmerman, general manager, Veeva RTSM. “Partnering with Indero to standardize clinical processes will further accelerate study timelines, demonstrating a streamlined approach that can advance the industry.” 

Additional Information
To learn more about Veeva’s enterprise standard RTSM, visit www.veeva.com/rtsm.

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.

Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10- Q for the period ended October 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.

Contact:

Jeremy Whittaker
Veeva Systems
+49-695-095-5486
jeremy.whittaker@veeva.com

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