10-Q Filing

MYERS INDUSTRIES INC CIK: 69488 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-072166`
Period End Date	20110630
Filing Date	20110803
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	mye-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 44 Cash Flow Statement 60 Stockholders Equity 12

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$6.05M	USD	Point-in-time
Cash	`Cash`	$4.71M	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.02M	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.95M	USD	Point-in-time
Cash	`Cash`	$4.73M	USD	Point-in-time
Cash	`Cash`	$6.94M	USD	Point-in-time
Accounts receivable-less allowances of $4,020 and $2,950, respectively	`AccountsReceivableNetCurrent`	$98.80M	USD	Point-in-time
Accounts receivable-less allowances of $4,020 and $2,950, respectively	`AccountsReceivableNetCurrent`	$101.58M	USD	Point-in-time
Finished and in-process products	`InventoryFinishedGoodsAndWorkInProcess`	$67.58M	USD	Point-in-time
Finished and in-process products	`InventoryFinishedGoodsAndWorkInProcess`	$77.15M	USD	Point-in-time
Preferred Shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSupplies`	$28.82M	USD	Point-in-time
Preferred Shares, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Shares, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Raw materials and supplies	`InventoryRawMaterialsAndSupplies`	$29.55M	USD	Point-in-time
Preferred Shares, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory net	`InventoryNet`	$106.69M	USD	Point-in-time
Preferred Shares, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory net	`InventoryNet`	$96.40M	USD	Point-in-time
Common Shares, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Shares, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.35M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.16M	USD	Point-in-time
Common Shares, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$5.78M	USD	Point-in-time
Common Shares, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$5.77M	USD	Point-in-time
Common Shares, shares outstanding	`CommonStockSharesOutstanding`	34.99M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$213.85M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$228.33M	USD	Point-in-time
Common Shares, shares outstanding	`CommonStockSharesOutstanding`	35.32M	shares	Point-in-time
Treasury Shares, shares	`TreasuryStockShares`	2.85M	shares	Point-in-time
Treasury Shares, shares	`TreasuryStockShares`	2.59M	shares	Point-in-time
Goodwill	`Goodwill`	$40.89M	USD	Point-in-time
Goodwill	`Goodwill`	$41.08M	USD	Point-in-time
Patents and other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$18.67M	USD	Point-in-time
Patents and other intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$17.65M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$6.89M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$7.17M	USD	Point-in-time
Total other non current assets	`AssetsNoncurrent`	$65.62M	USD	Point-in-time
Total other non current assets	`AssetsNoncurrent`	$66.73M	USD	Point-in-time
Land	`Land`	$4.37M	USD	Point-in-time
Land	`Land`	$4.37M	USD	Point-in-time
Buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$59.90M	USD	Point-in-time
Buildings and leasehold improvements	`BuildingsAndImprovementsGross`	$59.69M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$383.66M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$387.75M	USD	Point-in-time
Property, Plant and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$452.03M	USD	Point-in-time
Property, Plant and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$447.72M	USD	Point-in-time
Less allowances for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$309.71M	USD	Point-in-time
Less allowances for depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$295.91M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$142.31M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$151.81M	USD	Point-in-time
Total Assets	`Assets`	$432.39M	USD	Point-in-time
Total Assets	`Assets`	$436.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$64.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.30M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$18.29M	USD	Point-in-time
Employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$18.56M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$6.55M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$5.89M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$1.97M	USD	Point-in-time
Taxes, other than income taxes	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$1.93M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$195.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$281.00K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$15.53M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$14.39M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$305.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$305.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$95.32M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$106.33M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$90.42M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$83.53M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.94M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.74M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$24.94M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$24.79M	USD	Point-in-time
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common Shares, without par value (authorized 60,000,000 shares; outstanding 34,985,304 and 35,315,732;net of treasury shares of 2,845,753 and 2,592,175, respectively)	`CommonStockValue`	$21.49M	USD	Point-in-time
Common Shares, without par value (authorized 60,000,000 shares; outstanding 34,985,304 and 35,315,732;net of treasury shares of 2,845,753 and 2,592,175, respectively)	`CommonStockValue`	$21.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$281.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$279.60M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.16M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$12.80M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-101.22M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-94.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$218.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$211.81M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$436.27M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$432.39M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$362.33M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$175.91M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$176.81M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$370.25M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$283.46M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$132.77M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$274.19M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$141.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$78.86M	USD	2 Qtrs
Gross profit	`GrossProfit`	$33.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$96.06M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$75.02M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$35.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$68.39M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$10.47M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$21.04M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-9.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$8.67M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$3.65M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$2.39M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$1.15M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.85M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.65M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.86M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.52M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.82M	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-761.00K	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$2.39M	USD	2 Qtrs
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$2.86M	USD	1 Quarter
Income taxes (benefit)	`IncomeTaxExpenseBenefit`	$7.27M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$11.38M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$4.43M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.66M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.32	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.13	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.13	USD	2 Qtrs
Dividends per share	`CommonStockDividendsPerShareDeclared`	$0.07	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareDeclared`	$0.14	USD	2 Qtrs
Dividends per share	`CommonStockDividendsPerShareDeclared`	$0.13	USD	2 Qtrs
Dividends per share	`CommonStockDividendsPerShareDeclared`	$0.07	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.38M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.43M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.66M	USD	1 Quarter
Depreciation	`Depreciation`	$16.06M	USD	2 Qtrs
Depreciation	`Depreciation`	$15.02M	USD	2 Qtrs
Impairment charges	`AssetImpairmentCharges`	-	USD	2 Qtrs
Impairment charges	`AssetImpairmentCharges`	$252.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.47M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.49M	USD	2 Qtrs
Non-cash stock compensation	`ShareBasedCompensation`	$1.61M	USD	2 Qtrs
Non-cash stock compensation	`ShareBasedCompensation`	$1.13M	USD	2 Qtrs
Provision for loss on accounts receivable	`ProvisionForDoubtfulAccounts`	$327.00K	USD	2 Qtrs
Provision for loss on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.77M	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	-	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$-50.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-70.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-76.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$733.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.26M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.28M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.15M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$9.25M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-903.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-798.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.15M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-22.90M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.62M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.75M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.17M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.32M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.76M	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-73.00K	USD	2 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-848.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.92M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.08M	USD	2 Qtrs
Net borrowing on credit facility	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$6.55M	USD	2 Qtrs
Net borrowing on credit facility	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$12.55M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$4.71M	USD	2 Qtrs
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$4.61M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$72.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$70.00K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.72M	USD	2 Qtrs
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.81M	USD	2 Qtrs
Net cash (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.01M	USD	2 Qtrs
Foreign Exchange Rate Effect on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$212.00K	USD	2 Qtrs
Foreign Exchange Rate Effect on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$17.00K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.33M	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.23M	USD	2 Qtrs
Cash at January 1	`Cash`	$6.05M	USD	Point-in-time
Cash at January 1	`Cash`	$4.71M	USD	Point-in-time
Cash at January 1	`Cash`	$4.73M	USD	Point-in-time
Cash at January 1	`Cash`	$6.94M	USD	Point-in-time
Cash at June 30	`Cash`	$6.05M	USD	Point-in-time
Cash at June 30	`Cash`	$4.71M	USD	Point-in-time
Cash at June 30	`Cash`	$4.73M	USD	Point-in-time
Cash at June 30	`Cash`	$6.94M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Common stock dividends per share declared	`CommonStockDividendsPerShareDeclared`	$0.07	USD	1 Quarter
Common stock dividends per share declared	`CommonStockDividendsPerShareDeclared`	$0.14	USD	2 Qtrs
Common stock dividends per share declared	`CommonStockDividendsPerShareDeclared`	$0.13	USD	2 Qtrs
Common stock dividends per share declared	`CommonStockDividendsPerShareDeclared`	$0.07	USD	1 Quarter
Balance	`StockholdersEquity`	$218.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$211.81M	USD	Point-in-time
Net income	`NetIncomeLoss`	$11.38M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.43M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.66M	USD	1 Quarter
Balance	`StockholdersEquity`	$218.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$211.81M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.