Net sales for the fourth quarter were $110,517,959, up 16 percent from the $95,510,514 reported in the same period a year ago. Net income for the quarter was $9,173,423, an 11 percent increase from the $8,284,107 reported in 1997. Net income per share was $.50, up 11 percent from 1997's $.45 per share.

For the full year, net sales increased 15 percent, finishing at $392,019,900, up from the $339,625,585 produced in 1997. Net income for the year was $28,679,090, a 28 percent increase from the $22,338,783, reported in 1997. Net income per share was $1.57, a 30 percent increase from the $1.21 earned in 1997.

"1998 was an exceptional year," said Stephen E. Myers, president and CEO. "We completed four acquisitions. Three were in the manufacturing segment: raaco, Sherwood Plastics, and Kadon. We purchased the majority interest in Myers El Salvador in our distribution segment. In December, we announced an agreement to acquire the French material handling manufacturer, Allibert Équipement, and completed the purchase February 4th of this year.

"Increased unit volume for manufactured goods and favorable raw material pricing were the primary factors in the improved performance in the manufacturing segment. Additional sales representation in our distribution segment produced increased sales of equipment and consumable supplies," Mr. Myers said.

"We are cautiously optimistic about 1999," he said. "The Company will end the century with a significant international presence and sufficient capabilities to generate sustainable long-term growth."

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.