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IMMEDIATE RELEASE: October 15, 1998, Akron, Ohio USA -- Myers Industries, Inc.
(AMEX: MYE) today reported record net sales of $92,196,199 for the third quarter, a 14
percent increase over the $81,141,353 reported in 1997. Net income for the quarter was a
record $4,917,730, a 25 percent increase compared with the $3,932,704 recorded in the same
year ago period. Net income per share, also a record, was $.27 vs. $.21 reported in 1997,
a 29 percent increase. For
the nine months ended September 30, 1998, net sales were $281,501,941, a 15 percent
increase over the $244,115,071 reported in 1997. Net income of $19,505,667 was up 39
percent from the $14,054,676 earned in 1997. Net income per share for the first nine
months was $1.07, a 41 percent increase compared with the $.76 reported in 1997.
"We are pleased with the
Company's continued record performances," said Stephen E. Myers, president and CEO.
"During the third quarter, both the manufacturing and distribution segments
experienced increases in sales and earnings."
Myers Industries, Inc. is a
diversified manufacturer of polymer and metal products for industrial, commercial, and
consumer markets; and a nationwide wholesale distributor of tire repair, and undercar
service products.
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