-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VOJ7nhOuDlrN//DkxkqyCFCucfxIRuzNyhOUOsjgH3s/6OfGRTug9Gdn89Gosyk9 jtVjrL7WI73DeL3avVackw== 0000950152-99-006934.txt : 19990817 0000950152-99-006934.hdr.sgml : 19990817 ACCESSION NUMBER: 0000950152-99-006934 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990630 FILED AS OF DATE: 19990816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MYERS INDUSTRIES INC CENTRAL INDEX KEY: 0000069488 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 340778636 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-08524 FILM NUMBER: 99690951 BUSINESS ADDRESS: STREET 1: 1293 S MAIN ST CITY: AKRON STATE: OH ZIP: 44301 BUSINESS PHONE: 2162535592 MAIL ADDRESS: STREET 1: 1293 SOUTH MAIN STREET CITY: AKRON STATE: OH ZIP: 44301 FORMER COMPANY: FORMER CONFORMED NAME: MYERS TIRE SUPPLY CO DATE OF NAME CHANGE: 19720609 10-Q 1 MYERS INDUSTRIES, INC. FORM 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1999 ------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM_________________ TO_______________ COMMISSION FILE NUMBER I-8524 ------------ MYERS INDUSTRIES, INC. ------------------------------------------------------ (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) OHIO #34-0778636 - -------------------------------------------------------------------------------- (STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.) 1293 SOUTH MAIN STREET, AKRON, OHIO 44301 - -------------------------------------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (330) 253-5592 ------------------------ INDICATE WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X . NO . ----- ---- APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS INDICATE BY CHECK MARK WHETHER THE REGISTRANT HAS FILED ALL DOCUMENTS AND REPORTS REQUIRED TO BE FILED BY SECTIONS 12, 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SUBSEQUENT TO THE DISTRIBUTION OF SECURITIES UNDER A PLAN CONFIRMED BY A COURT. YES . NO . ---- ---- AS OF JULY 31, 1999, THE NUMBER OF SHARES OUTSTANDING OF THE ISSUER'S COMMON STOCK WAS: 18,404,763 ========== 2 -1- PART 1 - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- CONDENSED STATEMENT OF CONSOLIDATED FINANCIAL POSITION AS OF JUNE 30, 1999 AND DECEMBER 31, 1998 ------------------------------------------------------
June 30, December 31, ASSETS 1999 1998 - ------ ------------ ------------ CURRENT ASSETS Cash and temporary cash investments $ 12,509,204 $ 34,832,151 Accounts receivable-less allowances of $3,414,000 and $2,396,000, respectively 111,136,544 62,855,111 Inventories Finished and in-process products 49,193,793 44,182,030 Raw materials and supplies 20,127,185 9,236,913 ------------ ------------ 69,320,978 53,418,943 Prepaid expenses 1,292,384 2,543,996 ------------ ------------ TOTAL CURRENT ASSETS 194,259,110 153,650,201 OTHER ASSETS Excess of cost over fair value of net assets of companies acquired 156,006,275 37,481,612 Patents and other intangible assets 2,562,324 2,104,327 Other 3,914,027 4,028,655 ------------ ------------ 162,482,626 43,614,594 PROPERTY, PLANT & EQUIPMENT, AT COST Land 6,465,181 2,854,905 Buildings and leasehold improvements 63,536,245 53,484,959 Machinery and equipment 193,603,635 147,405,559 ------------ ------------ 263,605,061 203,745,423 Less allowances for depreciation and amortization 105,999,157 94,302,430 ------------ ------------ 157,605,904 109,442,993 ------------ ------------ $514,347,640 $306,707,788 ============ ============
3 -2- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- CONDENSED STATEMENT OF CONSOLIDATED FINANCIAL POSITION AS OF JUNE 30, 1999 AND DECEMBER 31, 1998 ------------------------------------------------------
June 30, December 31, LIABILITIES AND SHAREHOLDERS' EQUITY 1999 1998 - ------------------------------------ ------------- ------------- CURRENT LIABILITIES Accounts payable $ 34,439,254 $ 15,863,124 Accrued expenses Employee compensation 21,163,331 13,094,384 Taxes, other than income taxes 3,777,230 1,316,457 Income taxes 1,009,148 1,357,241 Other 19,680,317 13,214,158 Current portion of long-term debt 7,797,875 6,388,146 ------------- ------------- TOTAL CURRENT LIABILITIES 87,867,155 51,233,510 LONG-TERM DEBT, less current portion 210,181,751 48,832,240 DEFERRED INCOME TAXES 3,996,358 3,953,185 SHAREHOLDERS' EQUITY Serial Preferred Shares (authorized 1,000,000) 0 0 Common Shares, without par value (authorized 60,000,000 shares; outstanding 18,396,257 and 18,285,126, respectively) 11,650,116 11,610,996 Additional paid-in capital 135,065,008 134,280,522 Accumulated other comprehensive income (6,522,748) (83,002) Retained income 72,110,000 56,880,337 ------------- ------------- 212,302,376 202,688,853 ------------- ------------- $ 514,347,640 $ 306,707,788 ============= =============
4 -3- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- CONDENSED STATEMENT OF CONSOLIDATED INCOME ------------------------------------------
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED --------------------------- --------------------------- June 30, June 30, June 30, June 30, 1999 1998 1999 1998 ------------ ------------ ------------ ------------ Net sales $147,643,051 $101,114,576 $274,389,456 $189,305,742 Costs and expenses Cost of sales 93,491,543 66,287,070 173,010,818 123,862,482 Operating expenses 35,041,970 21,830,293 65,225,041 40,464,975 Interest, net 3,307,511 161,607 5,756,615 294,348 ------------ ------------ ------------ ------------ Total costs & expenses 131,841,024 88,278,970 243,992,474 164,621,805 Income before income taxes 15,802,027 12,835,606 30,396,982 24,683,937 Income taxes 6,635,000 5,238,000 12,962,000 10,096,000 ------------ ------------ ------------ ------------ Net income $ 9,167,027 $ 7,597,606 $ 17,434,982 $ 14,587,937 ============ ============ ============ ============ Net income per Common Share $ .50 $ .42 $ .95 $ .80 Dividends per Common Share $ .06 $ .05 $ .12 $ .10 Weighted average number of Common Shares outstanding 18,384,017 18,296,586 18,368,724 18,289,943
- ------------ 5 -4- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- STATEMENTS OF CONSOLIDATED CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998 -----------------------------------------------
June 30, June 30, 1999 1998 CASH FLOWS FROM OPERATING ACTIVITIES ------------- ------------- Net income $ 17,434,982 $ 14,587,937 Items not affecting use of cash Depreciation 13,074,874 7,414,491 Amortization of excess of cost over fair value of net assets of companies acquired 2,712,507 530,446 Amortization of other intangible assets 300,319 226,715 Cash flow provided by (used for) working capital Accounts and notes receivable (10,581,399) (2,662,420) Inventories 83,199 (1,486,097) Prepaid expenses 1,177,690 779,963 Accounts payable and accrued expenses (268,962) (493,684) ------------- ------------- Net cash provided by operating activities 23,933,210 18,897,351 CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of business, net of cash acquired (149,225,489) (13,088,119) Additions to property, plant and equipment, net (11,696,148) (7,502,995) Other 261,181 91,989 ------------- ------------- Net cash used for investing activities (160,660,456) (20,499,125) CASH FLOWS FROM FINANCING ACTIVITIES Long-term debt proceeds 75,000,000 0 Net borrowings (repayment) of credit facility 40,786,013 1,990,700 Cash dividends paid (2,205,320) (1,829,203) Proceeds from issuance of common stock 823,606 433,544 Repurchase of common stock 0 (82,687) ------------- ------------- Net cash provided by financing activities 114,404,299 512,354 (DECREASE) INCREASE IN CASH AND TEMPORARY CASH INVESTMENTS (22,322,947) (1,089,420) CASH AND TEMPORARY CASH INVESTMENTS JANUARY 1 34,832,151 6,297,726 ------------- ------------- CASH AND TEMPORARY CASH INVESTMENTS JUNE 30 $ 12,509,204 $ 5,208,306 ============= =============
6 -5- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- STATEMENT OF SHAREHOLDERS' EQUITY FOR THE SIX MONTHS ENDED JUNE 30, 1999 --------------------------------------
Accumulated Additional Other Comprehensive Common Paid-in Comprehensive Retained Income Stock Capital Income Income ------------------------------------------------------------------------------ December 31, 1998 $11,610,996 $134,280,522 ($83,002) $56,880,337 Net Income $17,434,982 17,434,982 Foreign Currency Translation Adjustment (6,439,746) (6,439,746) ----------- Comprehensive Income $10,995,236 =========== Common Stock Issued 39,120 784,486 Dividends (2,205,319) ------------------------------------------------------------ June 30, 1999 $11,650,116 $135,065,008 ($6,522,748) $72,110,000 ============================================================
7 -6- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (1) Statement of Accounting Policy ------------------------------ The accompanying financial statements include the accounts of Myers Industries, Inc. and subsidiaries (Company), and have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's latest annual report on Form 10-K. In the opinion of the Company, the accompanying financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of June 30, 1999, and the results of operations and cash flows for the six months ended June 30, 1999 and 1998. (2) Acquisitions ------------ On February 4, 1999, the Company acquired all of the shares of the entities comprising Allibert Equipement, the material handling division of Sommer Allibert S.A. This transaction also completed the acquisition of Allibert-Contico, LLC, a joint venture between Sommer Allibert and Contico International, Inc. The acquired businesses have five manufacturing facilities in Europe and one in North America and had 1998 annual sales of approximately $145 million. The acquisitions will be accounted for under the purchase method of accounting and, accordingly, the total purchase price of approximately $150 million will be allocated to the assets acquired and liabilities assumed based upon their estimated fair values. At June 30, 1999, the purchase price allocations have been based on estimates with the excess of purchase price over fair value of net assets acquired of approximately $110 million being amortized over lives of 16 and 40 years. The following unaudited proforma information presents a summary of consolidated results of operations of the Company and the acquired businesses as if the acquisitions had occurred January 1, 1998. 8 -7- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (2) Acquisitions (Con't) ------------
Three Months Ended Six Months Ended (In thousand,except per share) June 30, June 30, ------------------------- ------------------------ 1999 1998 1999 1998 -------- -------- -------- -------- Sales $147,643 $139,406 $282,880 $260,648 Net Income 9,167 7,771 16,930 12,683 Net Income Per Share .50 .42 .92 .69
These unaudited proforma results have been prepared for comparative purposes only and may not be indicative of results of operations which actually would have resulted had the combination been in effect on January 1, 1998, or of future results. (3) Subsequent Events ----------------- Effective August 1, 1999, the Company acquired substantially all of the assets of Dillen Products, Inc. and its affiliates (collectively referred to as "Dillen") for approximately $50 million (not including the assumption of debt). This transaction will be accounted for under the purchase method of accounting with the purchase price allocated to assets acquired and liabilities assumed based on the their estimated fair values and results of operations included with those of the Company subsequent to the date of acquisition. In connection with the acquisition, the Company entered into an amendment of its multi-currency revolving credit facility which increased the amount of credit available from $250 million to $325 million. (4) Supplemental Disclosure of Cash Flow Information ------------------------------------------------ The Company made cash payments for interest expense of $2,207,445 and $556,795 for the three months ended June 30, 1999 and 1998, respectively. Cash payments for interest were $3,785,102 and $1,006,781 for the six months ended June 30, 1999 and 1998. Cash payments for income taxes were $10,638,539 and $9,793,026 for the three months ended June 30, 1999 and 1998. Cash payments for income taxes were $12,457,265 and $11,464,640 for the six months ended June 30, 1999 and 1998, respectively. 9 -8- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (5) Segment Information ------------------- The Company's business units have separate management teams and offer different products and services. Using the criteria of FASB No. 131, these business units have been aggregated into two reportable segments; Distribution of after-market repair products and services and Manufacturing of polymer and metal products. The aggregation of business units is based on management by the chief operating decision maker for the segment as well as similarities of production processes, distribution methods and economic characteristics (e.g. average gross margin and the impact of economic conditions on long-term financial performance). The Company's distribution segment is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive underbody repair. The distribution segment operates domestically through 42 branches located in major cities throughout the United States and in foreign countries through export and businesses in which the Company holds an equity interest. The Company's manufacturing segment designs, manufactures and markets a variety of polymer based plastic and rubber products. These products are manufactured primarily through the molding process in facilities throughout the United States and Europe. Operating income for each segment is based on net sales less cost of products sold, and the related selling, administrative and general expenses. In computing segment operating income general corporate overhead expenses and interest expenses are not included. 10 -9- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (5) Segment Information (Con't) ---------------------------
Three Months Ended Six Months Ended (In Thousands) June 30, June 30, ---------------------- ---------------------- Net Sales 1999 1998 1999 1998 ---------- --------- --------- --------- Distribution of aftermarket repair products and services $ 41,870 $ 42,505 $ 76,811 $ 74,973 Manufacturing of polymer and metal products 109,310 62,340 204,186 121,116 Intra-segment elimination (3,537) (3,730) (6,608) (6,783) --------- --------- --------- --------- $ 147,643 $ 101,115 $ 274,389 $ 189,306 ========= ========= ========= ========= Income Before Income Taxes Distribution of aftermarket repair products and services $ 4,271 $ 3,745 $ 7,419 $ 6,322 Manufacturing of polymer and metal products 17,468 11,200 33,531 22,346 Corporate (2,629) (1,948) (4,796) (3,690) Interest expense - net (3,308) (161) (5,757) (294) --------- --------- --------- --------- $ 15,802 $ 12,836 $ 30,397 $ 24,684 ========= ========= ========= =========
11 -10- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS --------------------------------------------- RESULTS OF OPERATIONS - --------------------- Net sales for the three months ended June 30, 1999 increased $46.5 million or 46 percent as higher sales in the Company`s Manufacturing segment offset a slight decline in Distribution segment sales. Sales in the Manufacturing segment increased $47 million or 75 percent based on an increase of 7 percent in existing business units combined with the impact of acquired companies not included in the prior year period. Net sales for the six months ended June 30, 1999 increased $85.1 million or 45 percent as the Company experienced improvements in both of its business segments. Sales in the Distribution segment increased $1.8 million or 3 percent while sales in the Manufacturing segment rose $83.1 million or 69 percent. Without the impact of acquired companies there was an overall sales increase of 7 percent in the Manufacturing segment primarily the result of higher unit volumes. Cost of sales for the quarter increased $27.2 million or 41 percent reflecting the higher sales level; however, gross profit as a percentage of sales increased to 36.7 percent from 34.4 percent in the prior year. For the six months ended June 30, 1999, gross profit increased to 36.9 percent of sales from 34.6 percent in the prior year. For both the quarter and year-to-date periods this improvement in gross margin was primarily attributable to the Manufacturing segment reflecting lower raw material costs, greater utilization of plant capacity and the impact of acquired companies. Operating expenses increased $13.2 million or 61 percent for the quarter and $24.8 million or 61 percent year-to-date. These increases reflect the additional operating costs of acquired companies combined with higher selling costs resulting from increased sales volume. Expressed as a percentage of sales, operating expenses were 23.7 percent for the quarter and 23.8 percent for the six months ended June 30, 1999 compared with 21.5 percent for the quarter and 21.4 percent for the six month period in the prior year. This decrease in operating expense leverage is primarily due to the impact of acquired companies, particularly, those operating in foreign markets. Net interest expense increased to $3.3 million for the quarter and $5.8 million for the six month period ended June 30, 1999 compared with $161,607 and $294,348 in the same periods of the prior year. This significant increase reflects the higher borrowing levels resulting from business acquisitions. 12 -11- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS --------------------------------------------- Results of Operations (Con't) The Company's overall effective tax rate increased to 42 percent for the quarter and 42.6 percent for the six months ended June 30, 1999 compared with 40.8 percent and 40.9 percent in the same periods a year ago. This increase reflects an increase in non-deductible amortization expenses and foreign tax rate differences. LIQUIDITY AND CAPITAL RESOURCES - ------------------------------- Cash provided by operating activities was $23.9 million for the six months ended June 30, 1999 compared with $18.9 million for same period in the prior year. Long-term debt increased by $162 million from December 31, 1998, primarily as a result of the Allibert Equipement acquisition and debt as a percentage of total capitalization increased to 50 percent. Working capital increased slightly to $106.4 million at June 30, 1999 and the Company's current ratio was 2.2 to 1. Capital expenditures for the six months ended June 30, 1999 were $11.5 million and the Company anticipates total capital expenditures in the range of $25.0 to $30.0 million for the full year. Management believes that anticipated cash flows from operations and available credit facilities will be sufficient to fund capital expenditures and meet its short-term and long-term needs. Year 2000 - --------- The Company has conducted a review to identify potential Year 2000 issues related to both information technology (IT) and non-information technology (non-IT) matters. The Company has developed plans for each of its business units to correct or replace existing IT systems where significant potential year 2000 failures could occur. The majority of core business software utilized by the Company was acquired from third parties. As of June 30, 1999, core Corporate financial software is Year 2000 compliant, and core business software for the business units is either Year 2000 compliant or has been upgraded, tested and is ready for implementation. Full implementation of Year 2000 compliant software for all business units is expected to be completed during the third quarter of 1999. The Company is also in the process of verifying Year 2000 readiness of non-IT systems, including production equipment as well as evaluating the status of key 13 -12- PART I - FINANCIAL INFORMATION ------------------------------ MYERS INDUSTRIES, INC. ---------------------- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS --------------------------------------------- Year 2000 (Con't) vendors and service providers to determine Year 2000 readiness and determine alternatives and contingency plan requirements. To date, no material problems have been identified, and the Company is confident that the Year 2000 issue will not create significant operational problems. To date, the funds which have been spent on year 2000 issues have not been material and based on current assessments remaining expenses are not expected to be material. 14 -13- PART II - OTHER INFORMATION --------------------------- MYERS INDUSTRIES, INC. ---------------------- Item 4. Submission of Matters to a Vote of Security Holders --------------------------------------------------- The Annual Meeting of Shareholders was held on April 29, 1999, and the following matters were voted on at that meeting. 1. The election of nine Directors were voted upon. All of the Directors nominated were elected. The results of this voting are as follows: Votes Name of Director Votes for Withheld Stephen E. Myers 16,366,386 67,707 Milton I. Wiskind 16,327,556 106,537 Edwin P. Schrank 16,295,011 139,082 Karl S. Hay 16,356,757 77,336 Richard P. Johnston 16,323,025 111,068 Richard Osborne 16,366,164 67,929 Jon H. Outcalt 16,366,558 67,535 Samuel Salem 16,337,523 96,570 Keith A. Brown 14,531,568 1,902,525 2. Proposal to amend the Company's Amended and Restated Articles of Incorporation to increase the authorized shares of common stock from 30,000,000 to 60,000,000 shares was approved by the following vote: For 13,520,624 Against 2,854,010 Abstain 59,459 3. Proposal to approve the Myers Industries, Inc. 1999 Stock Plan was approved by the following vote: For 9,919,046 Against 4,057,218 Abstain 320,021 15 -14- PART II - OTHER INFORMATION --------------------------- MYERS INDUSTRIES, INC. ---------------------- Item 4. Submission of Matters to a Vote of Security Holders (Con't) ----------------------------------------------------------- 4. Ratification of the appointment of Arthur Andersen LLP as independent auditors for the fiscal year ending December 31,1999 was approved by the following votes: For 16,408,468 Against 8,980 Abstain 16,645 Item 6. Exhibits and Reports on Form 8-K -------------------------------- (a) Financial Data Schedule (b) Form 8-K/A's on April 20, 1999 and June 4, 1999 to amend the Form 8-K filed February 19, 1999 to include the audited financial statements and proforma financial information related to the acquisition of the Allibert Equipment Division of Sommer Allibert S.A. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MYERS INDUSTRIES, INC. August 16, 1999 By: \s\ Gregory J. Stodnick - ------------------------- ---------------------------- Date Gregory J. Stodnick Vice President-Finance Financial Officer (Duly Authorized Officer and Principal Financial and Accounting Officer) EX-27 2 EXHIBIT 27
5 YEAR DEC-31-1999 JAN-01-1999 JUN-30-1999 12,509,204 0 111,136,544 3,414,000 69,320,978 194,259,110 263,605,061 105,999,157 514,347,640 87,867,155 0 0 0 11,650,116 212,302,376 514,347,640 274,389,456 274,389,456 173,010,818 243,992,474 65,225,041 3,414,000 5,756,615 30,396,982 12,962,000 17,434,982 0 0 0 17,434,982 0.95 0.95
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