This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Myers Industries Reports 2011 Fourth Quarter And Full Year Results

Myers Industries, Inc. (NYSE: MYE) today announced results for the fourth quarter and full year ended December 31, 2011.

Net sales for the fourth quarter were $195.4 million compared to $188.2 million in the fourth quarter of 2010. The increase of 3.8% was primarily driven by sales generated by new product and customer sales and improved pricing. The gross margin increased to 28.0% in the fourth quarter compared to 23.5% in the same quarter of 2010. The Company’s focus on operations excellence and a favorable mix of higher margin new products contributed to the increase.

Net income in the fourth quarter of 2011 was $5.9 million or $0.18 per share compared to a net loss in the fourth quarter of 2010 of $50.5 million or $1.43 per share. Net income in the fourth quarter of 2011 included approximately $1.4 million of special pre-tax costs while net income in the fourth quarter of 2010 included $69.0 million of special pre-tax costs. Details regarding the special pre-tax costs for both quarters are provided on the Reconciliation of Non-GAAP Financial Measures included in this release. Adjusting for these special items, earnings per share was $0.19 in the fourth quarter of 2011 compared to $0.12 in the fourth quarter of 2010.

“Our fourth quarter demonstrates the results of our efforts to create value through a focus on our innovation and operations excellence initiatives that we began in 2010,” said President and Chief Executive Officer John C. Orr. “The new products and solutions that we are delivering generated a good portion of our sales increase in the quarter while the productivity improvements that we have made contributed to the expansion in our gross margin.”

Net sales increased 2.4% for the full year of 2011 to $755.7 million compared to $737.6 million in 2010. The gross margin expanded to 26.2% in the full year of 2011 from 22.3% in 2010.

Stock quotes in this article: MYE 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs