The 2020 Mid-Year Economic Update_long

Myers Industries Sales Up 4.7% in 2012

Distribution Segment sales declined 3.9 percent.

Myers Industries Inc. (NYSE: MYE), Akron, OH, reported full year 2012 sales of $791.2 million, an increase of 4.7 percent compared to 2011. Profit increased 22.3 percent to $30 million.

Sales in the Distribution Segment were $176.6 million for the full year, a decline of 3.9 percent compared to the full year 2011. The decline in the replacement tire industry combined with lower equipment sales during part of the year led to the decrease.

Sales in the Material Handling Segment for the full year of 2012 increased 9.2 percent. Lawn & Garden Segment sales declined 5.2 percent. Sales in the Engineered Products Segment increased 21.9 percent.

Fourth-quarter sales for Myers Industries were $214 million, an increase of 11.1 percent compared to the same period a year earlier. Profit increased 44.1 percent to $8.5 million.

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