| FOR
IMMEDIATE RELEASE: April 14, 1998, Akron, Ohio USA -- Myers Industries, Inc.
(AMEX: MYE) reported record performance for the first quarter ending March 31, 1998. Net
sales of $88,191,166 were up 15 percent over the $76,798,621 reported in 1997. Net income
for the quarter increased 45 percent to $6,990,331, up from $4,808,503 last year and net
income per share was up 46 percent, finishing at $.38 per share compared with $.26 a year
ago. "It was Myers
Industries' best first quarter," said Stephen E. Myers, president and CEO.
"Margins expanded and both business segments reported record sales."
"Lower resin prices and a
favorable product mix in both manufacturing and distribution segments contributed to the
first quarter performance. High utilization of plant capacity also added to the profit
margins."
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. |
