For the three months ended September 30, 1999, net sales of $139,768,838 were 52 percent greater than the $92,196,199 reported in 1998. Net income was $3,966,769, a 19 percent decrease from the $4,917,730 in last year's third quarter. Net income per share, adjusted for the 10 percent stock dividend paid in August, was down 17 percent, finishing at $.20 compared with $.24 in the third quarter a year ago.

For the nine months ended September 30, 1999, net sales of $414,158,294 were up 47 percent over the $281,501,941 reported for the same period in 1998. Net income was $21,401,751, a 10 percent increase from net income of $19,505,667 a year ago. Net income per share was $1.06, a 9 percent increase from the $.97 reported for the comparable period last year.

Commenting on the company's performance, Myers Industries President and Chief Executive Officer Stephen E. Myers said, "We continued to experience strong growth in sales for our manufacturing segment while our distribution segment was down slightly. Excluding contributions from acquisitions, total net sales would have increased 3 percent for the quarter and 4 percent for the nine months.

"While our recently acquired companies will be accretive to earnings over a 12-month period, the seasonal nature of their businesses has accentuated our own third quarter slowdown. We are also feeling pressure from plastic resin prices, which have risen substantially during the year."

In the Company's manufacturing segment, sales increased 92 percent over last year's third quarter results and 76 percent over the comparable nine months. Excluding acquisitions, sales in the manufacturing segment increased 6 percent for the quarter and 7 percent for the nine months.

Sales in the distribution segment were down 2 percent compared with 1998 third quarter results. Margins on sales, however, increased due to a favorable product mix. For the nine-month period, sales in the distribution segment increased 1 percent compared with 1998.

Myers Industries, Inc., headquartered in Akron, Ohio, is a global manufacturer of polymer and metal products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and automotive underbody repair industry in the United States.