Myers Industries, Inc. (NYSE: MYE), Akron, OH, reported second-quarter sales of $176.8 million, up slightly over sales for the second quarter 2010. Profit was $4.7 million, compared to a year-ago net loss of $1.1 million.
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For the first six months, sales were $370.2 million, up 2 percent over the same period last year. Profit was $11.3 million, compared to year-ago profit of $4.4 million.
Distribution Segment sales increased 5 percent to $46.1 million, compared the second quarter of 2010. The growth in sales is mostly the result of new products sales and a broader customer base.
The Material Handling Segment’s sales were $67 million, an increase of 7 percent. Strong sales across all markets, especially the agricultural, food processing, and automotive markets offset a significant drop in pallet sales in 2011 as compared to 2010.
The Lawn & Garden Segment’s sales were $41.4 million, down 9 percent in a year-over-year comparison. The decrease was mostly the result of soft consumer demand due to the weak economy and unfavorable weather conditions.
Engineered Products Segment sales were $27.9 million compared to $29.7 million in the second quarter of 2010, a decrease of 6 percent which was primarily due to a temporary interruption in the transplant auto business.
Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.