Myers Industries Second-Quarter Sales Up Slightly - Modern Distribution Management

Myers Industries Second-Quarter Sales Up Slightly

Distribution Segment sales increased 5 percent in the quarter.

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.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

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.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.