Myers Industries, Inc. (NYSE: MYE), Akron, OH, reported first quarter sales of $186.4 million, up 2% from first quarter 2008. Profit increased 7.8% to $5.5 million.
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\”While our end markets continue to experience challenges, we did see some recovery across certain sectors,\” said John C. Orr, president and CEO. \”Our focus will remain on pricing initiatives to offset rising raw material costs, developing higher-margin sales opportunities and leveraging benefits from our restructuring initiatives.\”
In the Material Handling, Engineered Products and Distribution Segments, gradual demand improvement helped to mitigate the impact of soft demand in the Lawn and Garden Segment, which was caused primarily due to continued cautious spending from customers and poor weather conditions early in the first quarter growing season.
Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets, and a wholesale distributor of equipment and supplies for the tire, wheel and undervehicle service industry in the U.S.