Sales up, income down for Myers
Myers Industries Inc.'s net sales for the second quarter totaled $225.6 million, a 16% increase from 2Q 2006 results. However, Myers' 2Q income fell to $2.5 million, a $4.6 million drop from the same period last year.
Income fell due to restructuring expenses, foreign currency losses and other factors, say Myers officials.
Earlier this week, Myers' shareholders approved the pending sale of the Akron, Ohio-based company to GS Capital Partners, a private equity firm.