Myers Industries, Inc. (NYSE: MYE), Akron, OH, reported sales were $701.8 million, a decrease of 14% from 2008. The manufacturer and distributor recorded a full-year loss of $683,000, compared to the year ago loss of $44.5 million.
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Fourth quarter sales were $188.3 million, an increase of 5% from fourth quarter 2008. Profit was $941,000, compared to a loss of $59.1 million a year ago.
In the Distribution Segment, demand for tire and vehicle service remained slow during the quarter. Sales declined 3% in the fourth quarter and 13% for the full year compared to the same periods of 2008. Profitability increased 30% for the fourth quarter, primarily due to a favorable product mix of supplies and SG&A reductions. Profitability declined 22% for the year, weighted by the full impact of weak end market demand.