Myers Industries 2Q Sales Up 7.6% - Modern Distribution Management

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Myers Industries 2Q Sales Up 7.6%

President & CEO John Orr to retire at end of year.

Myers Industries Inc. (NYSE: MYE), Akron, OH, a manufacturer of material handling and tire repair products, reported second-quarter sales of $164.3 million, a 7.6 percent increase over the same period a year ago. Profit from continuing operations grew 73 percent to $10.9 million.

"Our Scepter business continues to be a very good acquisition as it delivered strong sales and operating performance again in the second quarter of 2015," said President and CEO John Orr. "Although we continued to experience reduced sales of our agricultural products during the second quarter, an acceleration of orders by a few of our customers in that end market led to higher than anticipated sales and profits from those products."

Sales for the first six months were $320.7 million, up 5.7 percent year-over-year. Profit from continuing operations grew 22.2 percent to $13.5 million.

The company also announced that Orr will retire at the end of 2015. He has served as president and CEO since 2005.

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