Exhibit 99.1

 

				News Release
				NYSE: MYE

Contact(s):

Gregg Branning, Senior Vice President

& Chief Financial Officer (330) 761-6303

Monica Vinay, Vice President, Investor

Relations & Treasurer (330) 761-6212

Myers Industries Provides 2012-2014 Financial Results Adjusted for

Discontinued Operations and Segment Realignment

September 16, 2014, Akron, Ohio — Myers Industries, Inc. (NYSE:MYE) published today historical financial results adjusted to reflect Myers’ Lawn and Garden Segment and WEK Industries, Inc. as discontinued operations and the realignment of the Company’s remaining businesses into its two reportable segments: Material Handling and Distribution.

On June 2, 2014, the Company announced it had commenced the sale of its Lawn and Garden Segment and that the segment would be reported as discontinued operations.

On June 24, 2014, the Company announced it had completed the sale of WEK Industries, Inc. which had been part of the Company’s Engineered Products Segment and that it would be reported as discontinued operations. Ameri-Kart^®_, previously part of the Engineered Products Segment, is now part of the Material Handling Segment and Patch Rubber Company, also previously part of the Engineered Products Segment, is now part of the Distribution Segment.

Myers began reporting the Lawn and Garden Segment and WEK Industries, Inc. as discontinued operations in its second quarter earnings release issued July 24, 2014 and in its form 10Q for the period ending June 30, 2014.

The adjusted historical financial statements are included in this release and have also been published under financial statements in the Investor Relations section of the Company’s website at www.myersindustries.com. For a printer ready version of the financials, you can also click here.

Also today, Myers filed a Form 8-K/A that provides Myers Industries, Inc. and Scepter Corporation Group unaudited pro forma combined financial statements for the year ended December 31, 2013 and the six months ended June 30, 2014.

About Myers Industries

Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the U.S. Visit www.myersindustries.com to learn more.

Caution on Forward-Looking Statements

Statements in this release may include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed “forward-looking”. Words such as “expect”, “believe”, “project”, “plan”, “anticipate”, “intend”, “objective”, “goal”, “view”, and similar expressions identify forward-looking statements. These statements are based on management’s current views and assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company’s control that could cause actual results to materially differ from those expressed or implied. Risks and uncertainties include: changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; raw material availability, increases in raw material costs,

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or other production costs; future economic and financial conditions in the United States and around the world; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; the Company’s ability to execute the components of its strategic plan; and other risks as detailed in the Company’s 10-K and other reports filed with the Securities and Exchange Commission. Such reports are available on the Securities and Exchange Commission’s public reference facilities and its web site at http://www.sec.gov, and on the Company’s Investor Relations section of its web site at http://www.myersindustries.com. Myers Industries undertakes no obligation to publicly update or revise any forward-looking statements contained herein. These statements speak only as of the date made.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)

(Dollars in thousands, except share data)

 

		Three Months Ended				Three Months Ended				Six Months Ended
		March 31 2014				June 30 2014				June 30 2014
Net sales		$	150,485			$	152,784			$	303,269
Cost of sales			108,414				110,252				218,666
Gross profit			42,071				42,532				84,603
Selling, general and administrative expenses			33,188				31,246				64,434
Operating income			8,883				11,286				20,169
Interest expense, net			1,584				1,667				3,251
Income from continuing operations before income taxes			7,299				9,619				16,918
Income tax expense			2,536				3,292				5,828
Income from continuing operations			4,763				6,327				11,090
Loss from discontinued operations, net of tax			(4,083	)			(578	)			(4,661	)
Net income		$	680			$	5,749			$	6,429
Net earnings per share from continuing operations
Basic		$	0.14			$	0.20			$	0.34
Diluted		$	0.14			$	0.19			$	0.33
Net loss per share from discontinued operations
Basic		$	(0.12	)		$	(0.02	)		$	(0.14	)
Diluted		$	(0.12	)		$	(0.02	)		$	(0.14	)
Net earnings per share
Basic		$	0.02			$	0.18			$	0.20
Diluted		$	0.02			$	0.17			$	0.19
Dividends declared per share		$	0.13			$	0.13			$	0.26
Share
Basic			33,518,543				32,425,994				32,892,864
Diluted			34,018,475				32,962,790				33,387,109

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)

(Dollars in thousands, except share data)

 

		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31 2013				June 30 2013				September 30 2013				December 31 2013
Net sales		$	144,944			$	153,623			$	141,442			$	144,724
Cost of sales			102,859				108,615				98,924				104,781
Gross profit			42,085				45,008				42,518				39,943
Selling, general and administrative expenses			31,973				32,387				30,253				30,625
Operating income			10,112				12,621				12,265				9,318
Interest expense, net			1,077				1,119				1,113				1,222
Income from continuing operations before income taxes			9,035				11,502				11,152				8,096
Income tax expense			3,239				4,097				4,293				1,714
Income from continuing operations			5,796				7,405				6,859				6,382
Income (loss) from discontinued operations, net of tax			2,087				907				(371	)			(3,063	)
Net income		$	7,883			$	8,312			$	6,488			$	3,319
Net earnings per share from continuing operations
Basic		$	0.18			$	0.22			$	0.20			$	0.19
Diluted		$	0.17			$	0.22			$	0.20			$	0.19
Net earnings (loss) per share from discontinued operations
Basic		$	0.06			$	0.03			$	(0.01	)		$	(0.09	)
Diluted		$	0.06			$	0.03			$	(0.01	)		$	(0.09	)
Net earnings per share
Basic		$	0.24			$	0.25			$	0.19			$	0.10
Diluted		$	0.23			$	0.25			$	0.19			$	0.10
Dividends declared per share		$	0.09			$	0.09			$	0.09			$	0.09
Share
Basic			33,504,222				33,559,398				33,670,639				33,656,673
Diluted			33,859,416				33,877,952				34,208,809				34,204,594

 

*	Historical information has been adjusted to reflect discontinued operations presentation.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)

(Dollars in thousands, except share data)

 

		Six Months Ended				Nine Months Ended				Year Ended
		June 30 2013				September 30 2013				December 31 2013
Net sales		$	298,567			$	440,009			$	584,733
Cost of sales			211,474				310,398				415,179
Gross profit			87,093				129,611				169,554
Selling, general and administrative expenses			64,360				94,613				125,238
Operating income			22,733				34,998				44,316
Interest expense, net			2,196				3,309				4,531
Income from continuing operations before income taxes			20,537				31,689				39,785
Income tax expense			7,336				11,629				13,343
Income from continuing operations			13,201				20,060				26,442
Income (loss) from discontinued operations, net of tax			2,994				2,623				(440	)
Net income		$	16,195			$	22,683			$	26,002
Net earnings per share from continuing operations
Basic		$	0.39			$	0.60			$	0.78
Diluted		$	0.39			$	0.59			$	0.77
Net earnings (loss) per share from discontinued operations
Basic		$	0.09			$	0.08			$	(0.01	)
Diluted		$	0.09			$	0.08			$	(0.01	)
Net earnings per share
Basic		$	0.48			$	0.68			$	0.77
Diluted		$	0.48			$	0.67			$	0.76
Dividends declared per share		$	0.18			$	0.27			$	0.36
Share
Basic			33,529,004				33,574,801				33,588,720
Diluted			33,897,962				33,991,021				34,043,425

 

*	Historical information has been adjusted to reflect discontinued operations presentation.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)

(Dollars in thousands, except share data)

 

		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2012				2012				2012				2012
Net sales		$	128,588			$	126,815			$	143,354			$	146,815
Cost of sales			87,260				89,058				99,608				105,747
Gross profit			41,328				37,757				43,746				41,068
Selling, general and administrative expenses			27,150				27,124				33,296				29,803
Operating income			14,178				10,633				10,450				11,265
Interest expense, net			1,036				1,009				1,158				1,127
Income from continuing operations before income taxes			13,142				9,624				9,292				10,138
Income tax expense			5,028				3,546				3,050				4,065
Income from continuing operations			8,114				6,078				6,242				6,073
Income (loss) from discontinued operations, net of tax			1,871				(420	)			(444	)			2,448
Net income		$	9,985			$	5,658			$	5,798			$	8,521
Net earnings per share from continuing operations
Basic		$	0.24			$	0.18			$	0.18			$	0.18
Diluted		$	0.23			$	0.18			$	0.18			$	0.18
Net earnings (loss) per share from discontinued operations
Basic		$	0.06			$	(0.01	)		$	(0.01	)		$	0.07
Diluted		$	0.06			$	(0.01	)		$	(0.01	)		$	0.07
Net earnings per share
Basic		$	0.30			$	0.17			$	0.17			$	0.25
Diluted		$	0.29			$	0.17			$	0.17			$	0.25
Dividends declared per share		$	0.08			$	0.08			$	0.08			$	0.08
Share
Basic			33,439,012				33,595,637				33,746,824				33,646,031
Diluted			33,912,165				34,272,693				34,411,654				34,119,301

 

*	Historical information has been adjusted to reflect discontinued operations presentation.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Unaudited)

(Dollars in thousands, except share data)

 

		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2012				2012				2012
Net sales		$	255,403			$	398,757			$	545,572
Cost of sales			176,318				275,926				381,673
Gross profit			79,085				122,831				163,899
Selling, general and administrative expenses			54,274				87,570				117,373
Operating income			24,811				35,261				46,526
Interest expense, net			2,045				3,203				4,330
Income from continuing operations before income taxes			22,766				32,058				42,196
Income tax expense			8,574				11,624				15,689
Income from continuing operations			14,192				20,434				26,507
Income (loss) from discontinued operations, net of tax			1,451				1,007				3,455
Net income		$	15,643			$	21,441			$	29,962
Net earnings per share from continuing operations
Basic		$	0.42			$	0.61			$	0.79
Diluted		$	0.42			$	0.60			$	0.78
Net earnings (loss) per share from discontinued operations
Basic		$	0.04			$	0.03			$	0.10
Diluted		$	0.04			$	0.03			$	0.10
Net earnings per share
Basic		$	0.46			$	0.64			$	0.89
Diluted		$	0.46			$	0.63			$	0.88
Dividends declared per share		$	0.16			$	0.24			$	0.32
Share
Basic			33,525,444				33,592,984				33,597,020
Diluted			34,121,486				34,256,453				34,109,232

 

*	Historical information has been adjusted to reflect discontinued operations presentation.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

SALES BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2014
		Three Months Ended				Three Months Ended
		March 31				June 30
		2014				2014
Net Sales from Continuing Operations
Material Handling		$	106,677			$	103,046
Distribution			43,883				49,789
Inter-company Sales			(75	)			(51	)
Total		$	150,485			$	152,784
		2013
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31 2013				June 30 2013				September 30 2013				December 31 2013
Net Sales from Continuing Operations
Material Handling		$	94,636			$	100,496			$	89,855			$	95,618
Distribution			50,406				53,211				51,667				49,176
Inter-company Sales			(98	)			(84	)			(80	)			(70	)
Total		$	144,944			$	153,623			$	141,442			$	144,724
		% Change
		Three Months Ended				Three Months Ended
		March 31				June 30
Net Sales from Continuing Operations
Material Handling			12.7	%			2.5	%
Distribution			-12.9	%			-6.4	%
Inter-company Sales			-23.5	%			-39.3	%
Total			3.8	%			-0.5	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

SALES BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2014
		Six Months Ended
		June 30
		2014
Net Sales from Continuing Operations
Material Handling		$	209,723
Distribution			93,672
Inter-company Sales			(126	)
Total		$	303,269
		2013
		Six Months Ended				Nine Months Ended				Year Ended
		June 30 2013				September 30 2013				December 31 2013
Net Sales from Continuing Operations
Material Handling		$	195,132			$	284,987			$	380,605
Distribution			103,617				155,284				204,460
Inter-company Sales			(182	)			(262	)			(332	)
Total		$	298,567			$	440,009			$	584,733
		% Change
		Six Months Ended
		June 30
Net Sales from Continuing Operations
Material Handling			7.5	%
Distribution			-9.6	%
Inter-company Sales			-30.8	%
Total			1.6	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

SALES BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2013
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2013				2013				2013				2013
Net Sales from Continuing Operations
Material Handling		$	94,636			$	100,496			$	89,855			$	95,618
Distribution			50,406				53,211				51,667				49,176
Inter-company Sales			(98	)			(84	)			(80	)			(70	)
Total		$	144,944			$	153,623			$	141,442			$	144,724
		2012
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31 2012				June 30 2012				September 30 2012				December 31 2012
Net Sales from Continuing Operations
Material Handling		$	77,970			$	74,367			$	89,587			$	95,550
Distribution			50,870				52,500				53,849				51,348
Inter-company Sales			(252	)			(52	)			(82	)			(83	)
Total		$	128,588			$	126,815			$	143,354			$	146,815
		% Change
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
Net Sales from Continuing Operations
Material Handling			21.4	%			35.1	%			0.3	%			0.1	%
Distribution			-0.9	%			1.4	%			-4.1	%			-4.2	%
Inter-company Sales			-61.1	%			61.5	%			-2.4	%			-15.7	%
Total			12.7	%			21.1	%			-1.3	%			-1.4	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

SALES BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2013
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2013				2013				2013
Net Sales from Continuing Operations
Material Handling		$	195,132			$	284,987			$	380,605
Distribution			103,617				155,284				204,460
Inter-company Sales			(182	)			(262	)			(332	)
Total		$	298,567			$	440,009			$	584,733
		2012
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2012				2012				2012
Net Sales from Continuing Operations
Material Handling		$	152,337			$	241,924			$	337,474
Distribution			103,370				157,219				208,567
Inter-company Sales			(304	)			(386	)			(469	)
Total		$	255,403			$	398,757			$	545,572
		% Change
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
Net Sales from Continuing Operations
Material Handling			28.1	%			17.8	%			12.8	%
Distribution			0.2	%			-1.2	%			-2.0	%
Inter-company Sales			-40.1	%			-32.1	%			-29.2	%
Total			16.9	%			10.3	%			7.2	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2014
		Three Months Ended				Three Months Ended
		March 31				June 30
		2014				2014
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	12,772			$	11,533
Distribution			3,530				5,053
Corporate			(9,003	)			(6,967	)
Total		$	7,299			$	9,619
		2013
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2013				2013				2013				2013
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	11,482			$	13,358			$	12,085			$	10,503
Distribution			5,287				6,043				6,287				4,110
Corporate			(7,734	)			(7,899	)			(7,220	)			(6,517	)
Total		$	9,035			$	11,502			$	11,152			$	8,096
		% Change
		Three Months Ended				Three Months Ended
		March 31				June 30
Income (loss) from Continuing Operations Before Income Taxes
Material Handling			11.2	%			-13.7	%
Distribution			-33.2	%			-16.4	%
Corporate			16.4	%			-11.8	%
Total			-19.2	%			-16.4	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2014
		Six Months Ended
		June 30
		2014
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	24,305
Distribution			8,583
Corporate			(15,970	)
Total		$	16,918
		2013
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2013				2013				2013
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	24,840			$	36,925			$	47,428
Distribution			11,330				17,617				21,727
Corporate			(15,633	)			(22,853	)			(29,370	)
Total		$	20,537			$	31,689			$	39,785
		% Change
		Six Months Ended
		June 30
Income (loss) from Continuing Operations Before Income Taxes
Material Handling			-2.2	%
Distribution			-24.2	%
Corporate			2.2	%
Total			-17.6	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2013
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2013				2013				2013				2013
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	11,482			$	13,358			$	12,085			$	10,503
Distribution			5,287				6,043				6,287				4,110
Corporate			(7,734	)			(7,899	)			(7,220	)			(6,517	)
Total		$	9,035			$	11,502			$	11,152			$	8,096
		2012
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2012				2012				2012				2012
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	14,395			$	10,480			$	13,633			$	12,788
Distribution			5,011				6,274				5,755				5,542
Corporate			(6,264	)			(7,130	)			(10,096	)			(8,192	)
Total		$	13,142			$	9,624			$	9,292			$	10,138
		% Change
		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
Income (loss) from Continuing Operations Before Income Taxes
Material Handling			-20.2	%			27.5	%			-11.4	%			-17.9	%
Distribution			5.5	%			-3.7	%			9.2	%			-25.8	%
Corporate			23.5	%			10.8	%			-28.5	%			-20.4	%
Total			-31.3	%			19.5	%			20.0	%			-20.1	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

 

		2013
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2013				2013				2013
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	24,840			$	36,925			$	47,428
Distribution			11,330				17,617				21,727
Corporate			(15,633	)			(22,853	)			(29,370	)
Total		$	20,537			$	31,689			$	39,785
		2012
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2012				2012				2012
Income (loss) from Continuing Operations Before Income Taxes
Material Handling		$	24,875			$	38,508			$	51,296
Distribution			11,285				17,040				22,582
Corporate			(13,394	)			(23,490	)			(31,682	)
Total		$	22,766			$	32,058			$	42,196
		% Change
		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
Income (loss) from Continuing Operations Before Income Taxes
Material Handling			-0.1	%			-4.1	%			-7.5	%
Distribution			0.4	%			3.4	%			-3.8	%
Corporate			16.7	%			-2.7	%			-7.3	%
Total			-9.8	%			-1.2	%			-5.7	%

 

*	Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

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MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

 

		Three Months Ended				Three Months Ended				Six Months Ended
		March 31				June 30				June 30
		2014				2014				2014
Material Handling
Income before income taxes as reported		$	12,772			$	11,533			$	24,305
Restructuring expenses and other adjustments			—				688				688
Income before income taxes as adjusted			12,772				12,221				24,993
Distribution
Income before income taxes as reported			3,530				5,053				8,583
Restructuring expenses and other adjustments			557				268				825
Income before income taxes as adjusted			4,087				5,321				9,408
Corporate and interest expense
(Loss) before income taxes as reported			(9,003	)			(6,967	)			(15,970	)
Transaction costs			—				603				603
(Loss) before income taxes as adjusted			(9,003	)			(6,364	)			(15,367	)
Continuing operations
Income from continuing operations before income taxes as reported			7,299				9,619				16,918
Restructuring expenses and other adjustments			557				956				1,513
Transaction costs			—				603				603
Income from continuing operations before income taxes as adjusted			7,856				11,178				19,034
Income tax expense			2,828				4,024				6,852
Income from continuing operations as adjusted			5,028				7,154				12,182
Discontinued operations
Loss from discontinued operations before income taxes as reported			(6,239	)			(692	)			(6,931	)
Restructuring expenses and other adjustments			6,884				3,023				9,907
Transaction costs			—				182				182
Gain on sale			—				(3,735	)			(3,735	)
Income (loss) from discontinued operations before income taxes as adjusted			645				(1,222	)			(577	)
Income tax expense (benefit)			232				(440	)			(208	)
Income (loss) from discontinued operations adjusted			413				(782	)			(369	)
Consolidated
Net income as adjusted		$	5,441			$	6,372			$	11,813
Adjusted earnings per diluted share from continuing operations		$	0.15			$	0.22			$	0.36
Adjusted earnings per diluted share from discontinued operations			0.01				(0.02	)			(0.01	)
Adjusted earnings per diluted share		$	0.16			$	0.20			$	0.35

Note: Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating performance. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

---

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

 

		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2013				2013				2013				2013
Material Handling
Income before income taxes as reported		$	11,482			$	13,358			$	12,085			$	10,503
Restructuring expenses and other adjustments			209				16				—				—
Income before income taxes as adjusted			11,691				13,374				12,085				10,503
Distribution
Income before income taxes as reported			5,287				6,043				6,287				4,110
Restructuring and other adjustments			74				18				25				76
Income before income taxes as adjusted			5,361				6,061				6,312				4,186
Corporate and interest expense
(Loss) before income taxes as reported			(7,734	)			(7,899	)			(7,220	)			(6,517	)
Other adjustments			17				—				—				—
(Loss) before income taxes as adjusted			(7,717	)			(7,899	)			(7,220	)			(6,517	)
Continuing operations
Income from continuing operations before income taxes as reported			9,035				11,502				11,152				8,096
Restructuring expenses and other adjustments			300				34				25				76
Income from continuing operations before income taxes as adjusted			9,335				11,536				11,177				8,172
Income tax expense			3,454				4,268				4,136				2,942
Income from continuing operations as adjusted			5,881				7,268				7,042				5,230
Discontinued operations
Income (loss) from discontinued operations before income taxes as reported			3,118				500				(188	)			(3,824	)
Restructuring expenses and other adjustments			406				736				1,141				9,315
Loss on disposal of assets							616
Depreciation recapture			—				—				1,264				—
Income from discontinued operations before income taxes as adjusted			3,524				1,852				2,217				5,491
Income tax expense			1,304				685				820				1,977
Income from discontinued operations as adjusted			2,220				1,167				1,397				3,515
Consolidated
Net income as adjusted		$	8,101			$	8,435			$	8,439			$	8,744
Adjusted earnings per diluted share from continuing operations		$	0.17			$	0.21			$	0.21			$	0.15
Adjusted earnings per diluted share from discontinued operations			0.07				0.04				0.04				0.10
Adjusted earnings per diluted share		$	0.24			$	0.25			$	0.25			$	0.26

Note: Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating performance. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

---

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

 

		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2013				2013				2013
Material Handling
Income before income taxes as reported		$	24,840			$	36,925			$	47,428
Restructuring expenses and other adjustments			225				225				225
Income before income taxes as adjusted			25,065				37,150				47,653
Distribution
Income before income taxes as reported			11,330				17,617				21,727
Restructuring and other adjustments			92				117				193
Income before income taxes as adjusted			11,422				17,734				21,920
Corporate and interest expense
(Loss) before income taxes as reported			(15,633	)			(22,853	)			(29,370	)
Other adjustments			17				17				17
(Loss) before income taxes as adjusted			(15,616	)			(22,836	)			(29,353	)
Continuing operations
Income from continuing operations before income taxes as reported			20,537				31,689				39,784
Restructuring expenses and other adjustments			334				359				435
Income from continuing operations before income taxes as adjusted			20,871				32,048				40,219
Income tax expense			7,722				11,858				14,479
Income from continuing operations as adjusted			13,149				20,190				25,740
Discontinued operations
Income (loss) from discontinued operations before income taxes as reported			3,618				3,430				(394	)
Restructuring expenses and other adjustments			1,142				2,283				11,598
Loss on disposal of assets			616				616				616
Depreciation recapture			—				1,264				1,264
Income from discontinued operations before income taxes as adjusted			5,376				7,593				13,084
Income tax expense			1,989				2,809				4,710
Income from discontinued operations as adjusted			3,387				4,783				8,374
Consolidated
Net income as adjusted		$	16,536			$	24,974			$	34,114
Adjusted earnings per diluted share from continuing operations		$	0.39			$	0.59			$	0.75
Adjusted earnings per diluted share from discontinued operations			0.10				0.14				0.25
Adjusted earnings per diluted share		$	0.49			$	0.73			$	1.00

Note: Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating performance. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

---

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

 

		Three Months Ended				Three Months Ended				Three Months Ended				Three Months Ended
		March 31				June 30				September 30				December 31
		2012				2012				2012				2012
Material Handling
Income before income taxes as reported		$	14,395			$	10,480			$	13,633			$	12,788
Restructuring expenses and other adjustments			—				—				—				168
Income before income taxes as adjusted			14,395				10,480				13,633				12,956
Distribution
Income before income taxes as reported			5,011				6,274				5,755				5,542
Gain on sale of buildings							(310	)			(70	)			(460	)
Restructuring and other adjustments			430				54				235				10
Income before income taxes as adjusted			5,441				6,018				5,920				5,092
Corporate and interest expense
(Loss) before income taxes as reported			(6,264	)			(7,130	)			(10,096	)			(8,192	)
Other adjustments			—				—				1,486				318
(Loss) before income taxes as adjusted			(6,264	)			(7,130	)			(8,610	)			(7,874	)
Continuing operations
Income from continuing operations before income taxes as reported			13,142				9,625				9,292				10,138
Gain on sale of building			—				(310	)			(70	)			(460	)
Restructuring expenses and other adjustments			430				54				1,721				496
Income from continuing operations before income taxes as adjusted			13,572				9,369				10,943				10,174
Income tax expense			5,293				3,560				4,158				3,764
Income from continuing operations as adjusted			8,279				5,809				6,785				6,409
Discontinued operations
Income (loss) from discontinued operations before income taxes as reported			2,894				(686	)			(713	)			3,650
Restructuring expenses and other adjustments			126				517				868				301
Income (loss) from discontinued operations before income taxes as adjusted			3,020				(169	)			155				3,951
Income tax expense (benefit)			1,178				(64	)			59				1,462
Income (loss) from discontinued operations as adjusted			1,842				(105	)			96				2,489
Consolidated
Net income as adjusted		$	10,121			$	5,704			$	6,881			$	8,898
Adjusted earnings per diluted share from continuing operations		$	0.25			$	0.17			$	0.20			$	0.19
Adjusted earnings per diluted share from discontinued operations			0.05				(0.00	)			0.00				0.07
Adjusted earnings per diluted share		$	0.30			$	0.17			$	0.20			$	0.26

Note: Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating performance. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

---

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

 

		Six Months Ended				Nine Months Ended				Year Ended
		June 30				September 30				December 31
		2012				2012				2012
Material Handling
Income before income taxes as reported		$	24,875			$	38,508			$	51,296
Restructuring expenses and other adjustments			—				—				168
Income before income taxes as adjusted			24,875				38,508				51,464
Distribution
Income before income taxes as reported			11,285				17,040				22,582
Gain on sale of buildings			(310	)			(380	)			(840	)
Restructuring and other adjustments			484				719				729
Income before income taxes as adjusted			11,459				17,379				22,471
Corporate and interest expense
(Loss) before income taxes as reported			(13,394	)			(23,490	)			(31,682	)
Other adjustments			—				1,486				1,804
(Loss) before income taxes as adjusted			(13,394	)			(22,004	)			(29,878	)
Continuing operations
Income from continuing operations before income taxes as reported			22,766				32,058				42,196
Gain on sale of building			(310	)			(380	)			(840	)
Restructuring expenses and other adjustments			484				2,205				2,701
Income from continuing operations before income taxes as adjusted			22,940				33,883				44,057
Income tax expense			8,717				12,876				16,301
Income from continuing operations as adjusted			14,223				21,008				27,756
Discontinued operations
Income (loss) from discontinued operations before income taxes as reported			2,207				1,494				5,144
Restructuring expenses and other adjustments			643				1,511				1,812
Income (loss) from discontinued operations before income taxes as adjusted			2,850				3,005				6,956
Income tax expense (benefit)			1,083				1,142				2,574
Income (loss) from discontinued operations as adjusted			1,767				1,863				4,382
Consolidated
Net income as adjusted		$	15,990			$	22,871			$	32,138
Adjusted earnings per diluted share from continuing operations		$	0.42			$	0.62			$	0.81
Adjusted earnings per diluted share from discontinued operations			0.05				0.05				0.13
Adjusted earnings per diluted share		$	0.47			$	0.67			$	0.94

Note: Historical information has been adjusted to reflect discontinued operations presentation and the segment realignment completed in June 2014.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating performance. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statement of Cash Flows (Unaudited)

For the year ended December 31, 2013

(Dollars in thousands)

 

		Adjusted
Cash Flows from Operating Activities
Net Income		$	26,002
Loss from discontinued operations, net of income taxes			(440	)
Income from continuing operations			26,442
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities
Depreciation			20,386
Amortization of intangible assets			2,769
Amortization of deferred financing costs			373
Non-cash stock compensation			2,557
Provision for loss on accounts receivable			457
Deferred Taxes			(4,416	)
Other long-term liabilities			709
Loss from asset disposition			598
Tax benefit from options			(390	)
Other			202
Payments on performance based compensation			(1,719	)
Cash flows provided by (used for) working capital, net of acquisitions:
Accounts receivable			(1,964	)
Inventories			3,011
Prepaid expenses			(840	)
Accounts payable and accrued expenses			26,758
Net cash provided by operating activities—continuing operations			74,933
Net cash provided by operating activities—discontinued operations			21,135
Net cash provided by operating activities			96,068
Cash Flows from Investing Activities
Capital expenditures			(20,709	)
Acquisition of business, net of cash acquired			(600	)
Other			(273	)
Net cash used for investing activities—continuing operations			(21,582	)
Net cash used for investing activities—discontinued operations			(8,359	)
Net cash used for provided by investing activities			(29,941	)
Cash Flows from Financing Activities
Proceeds from long-term debt			11,000
Repayment of long-term debt			(32,683	)
Net repayments on credit facility			(24,492	)
Cash dividends paid			(9,103	)
Proceeds from issuance of common stock			5,805
Tax benefit from options			390
Repurchase of common stock			(8,096	)
Shares withheld for employee taxes on equity awards			(684	)
Deferred financing costs			(608	)
Net cash used for financing activities—continuing operations			(58,471	)
Net cash used for financing activities—discontinued operations			(2,317	)
Net cash used for financing activities			(60,788	)
Foreign Exchange Rate Effect on Cash			(2,748	)
Net increase in cash			2,591
Cash at January 1			3,948
Cash at December 31		$	6,539

 

*	Historical information has been adjusted to reflect discontinued operations presentation.

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MYERS INDUSTRIES, INC. AND SUBSIDIARIES

Condensed Consolidated Statement of Cash Flows (Unaudited)

For the year ended December 31, 2012

(Dollars in thousands)

 

		Adjusted
Cash Flows from Operating Activities
Net Income		$	29,962
Income from discontinued operations, net of income taxes			3,455
Income from continuing operations			26,507
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities
Depreciation			17,050
Amortization of intangible assets			2,138
Amortization of deferred financing costs			288
Non-cash stock compensation			2,708
Recovery of loss on accounts receivable			(836	)
Deferred Taxes			353
Other long-term liabilities			4,189
Gain from asset disposition			(1,139	)
Cancellations and terminations of share grants			253
Other			(113	)
Payments on performance based compensation			(333	)
Cash flows provided by (used for) working capital, net of acquisitions:
Accounts receivable			(3,820	)
Inventories			(6,373	)
Prepaid expenses			(798	)
Accounts payable and accrued expenses			3,772
Net cash provided by operating activities—continuing operations			43,846
Net cash provided by operating activities—discontinued operations			16,906
Net cash provided by operating activities			60,752
Cash Flows from Investing Activities
Capital expenditures			(19,861	)
Acquisition of business, net of cash acquired			(18,543	)
Proceeds from sale of property, plant and equipment			3,086
Other			(50	)
Net cash used for investing activities—continuing operations			(35,368	)
Net cash used for investing activities—discontinued operations			(7,116	)
Net cash used for investing activities			(42,484	)
Cash Flows from Financing Activities
Repayment of long-term debt			(23,281	)
Net borrowings on credit facility			17,700
Cash dividends paid			(13,006	)
Proceeds from issuance of common stock			3,122
Cancellations and terminations of share grants			(253	)
Repurchase of common stock			(4,204	)
Net cash used for financing activities—continuing operations			(19,922	)
Net cash used for financing activities—discontinued operations			(3,977	)
Net cash used for financing activities			(23,899	)
Foreign Exchange Rate Effect on Cash			2,778
Net increase in cash			(2,853	)
Cash at January 1			6,801
Cash at December 31		$	3,948

 

*	Historical information has been adjusted to reflect discontinued operations presentation.