Myers earnings, sales rise in second quarter

AKRON (July 24)—Myers Industries Inc. reported second-quarter net income skyrocketed 114 percent to $6.8 million on slightly higher sales of $153.1 million. For the six months ended June 30, the firm's sales dropped 5 percent to $302 million from $318 million, while net earnings jumped 51 percent to $16.8 million from $11.2 million. Customer demand improved in the second quarter across several markets, including recreational vehicle and heavy truck, but Myers said it has not seen sustained demand from large, industrial markets. President and CEO Stephen E. Myers attributed the firm's increased earnings to improved manufacturing efficiency, cost controls, lower interest rates and favorable raw material prices.