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Myers Industries, Inc., Akron, OH, reported sales for the second quarter were $173.2 million, a decrease if 19% from second
quarter 2008. The company recorded a loss of $1.4 million for the period, compared to profit of $2.9 million the prior year.
Weak end markets and demand continued to result in volume declines across segments. Customers maintained cautious
spending - further reducing inventory levels, purchasing on an as-needed basis, deferring major capital
investments and conserving cash. In the Distribution segment, sales of supplies and equipment remained weak
due to continued slow demand for both tire and vehicle service.
For the six-months ended June
30, 2009, sales were $363.3 million, down 21.7% from the same period a year ago. Profit decreased 72% to
$3.7 ...
Myers Industries, Inc., Akron, OH, reported sales for the second quarter were $173.2 million, a decrease if 19% from second
quarter 2008. The company recorded a loss of $1.4 million for the period, compared to profit of $2.9 million the prior year.
Weak end markets and demand continued to result in volume declines across segments. Customers maintained cautious
spending - further reducing inventory levels, purchasing on an as-needed basis, deferring major capital
investments and conserving cash.
In the Distribution segment, sales of supplies and equipment
remained weak due to continued slow demand for both tire and vehicle service.
For the six-months
ended June 30, 2009, sales were $363.3 million, down 21.7% from the same period a year ago. Profit decreased
72% to $3.7 million.
Myers Industries, Inc. is an international manufacturer of polymer products
for industrial, agricultural, automotive, commercial and consumer markets. The Company is also a wholesale distributor
of tools, equipment and supplies for the tire, wheel and undervehicle service industry in the U.S.
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