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Myers announces 2008 financial results

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Myers Industries Inc. achieved net sales of $867.8 million for 2008, down from $918 million during the same period in 2007. Myers suffered a loss of $59.1 million during 2008.

The Akron, Ohio-based company's results for 2008 include a non-cash goodwill impairment charge of $60.1 million and special pre-tax expenses of $18.1 million.

"Despite the severe economic downturn and decline in demand during the fourth quarter, we are reporting positive operating results, exclusive of special items, for both the fourth quarter and full year," says Myers CEO John Orr.

"I am proud that our employees remained focused all year on initiatives we could control, such as product pricing, reducing expenses, developing new channels for growth and maximizing cash flow."

 

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