Myers posts record first quarter sales

April 22, 2004

Myers Industries Inc.'s net sales for the first quarter of 2004 were a record $185.5 million, a 14% increase from $163.2 million achieved during the same period in 2003.

Myers' Q1 2004 net income rose 23% over Q1 2003 levels to $8.8 million.

Myers Industries Chairman and CEO Stephen Myers attributes gains to "an improved economy and our actions to advance internal growth, margins and cost controls. These help off-set higher prices for plastic raw materials, which continued an upward trend."

The Akron, Ohio-based company's manufacturing segment achieved a 13% increase in sales while its distribution sales climbed 18% vs. Q1 2003 results.