Myers achieves record sales, 153% income jump during third quarter
Myers Industries Inc.´s net sales for the third quarter reached $199.3 million, a 31% jump from the same period last year and a record for the Akron, Ohio-based company.
Myers´ net income for the third quarter was $3.8 million, a 153% increase over 3Q 2003 numbers.
For the first nine months of the year, Myers´ net sales were $581.6 million, a 20% increase from the same period in 2003. The company´s net income for the first nine months rose 57% to $18.7 million.
"Sales continued to be strong in most of our markets," says Stephen Myers, Myers Industries´ chairman and CEO.
"We have increased selling prices where possible, while maintaining our cost reduction initiatives (in an) attempt to mitigate the impact of large increases in the cost of raw materials to which we have been subjected this year."