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Myers’ Distribution Sales Fell 1.8% In Q4

Akron, OH-based Myers Industries’ net income fell from $8.52 million a year ago to $3.32 million in the fourth quarter of 2013 as sales decreased 1.3 percent to $211.29 million. Its distribution business (a.k.a. Myers Tire Supply) saw its income before taxes fall 6.3 percent to $3.46 million as sales decreased 1.8 percent to $43.86 million. Management attributed the distribution segment sales decline to softer demand from international customers during, which more than offset increases from new product sales in the United States.

Looking ahead, management anticipates that distribution segment sales will be relatively flat in the first quarter, largely because of poor weather conditions at the start of the year. However, future quarters could benefit from the resulting pent-up demand.

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