AKRON (April 23)—Myers Industries Inc. reported sales increased 14 percent to $185.5 million from $163.2 million and net income jumped 23 percent to $8.9 million from $7.2 million for the first quarter.
Favorable currency translation and recent acquisitions helped results for the period ended March 31, Myers said. Exchange rates increased sales $6.7 million and income $225,000. The acquisition of ATP Automotive Inc., included in the results since the deal closed March 10, added $4.4 million in sales and $267,000 in income.
Chairman and CEO Stephen E. Myers said an improved economy and measures to advance internal growth, margins and cost controls offset higher raw material prices, which continue to rise.