Akron polymer products manufacturer and tool distributor Myers Industries Inc. reported lower net income and revenue for its second quarter.

Myers on Tuesday reported earning $6.6 million, or 18 cents per share, on revenue of $134.3 million for the quarter ending June 30. That compares to net income of $8.6 million, or 26 cents per share, on revenue of $140.6 million a year ago.

Myers had adjusted earnings of 27 cents per share, the same as last year’s second quarter.

Earnings beat analyst projections while revenue fell short. Shares closed down Wednesday 11 cents, or 0.6%, to $17.80. Over the past 52 weeks, shares have ranged from a low of $14.24 to a high of $25.70.

The company also updated its full-year outlook.

“Second-quarter adjusted earnings were in line with our expectations, despite softer than anticipated demand in our consumer end market. Net sales were down 4.5% due primarily to continued weakness in the recreational vehicle market and softer than anticipated spring seasonal demand in our consumer end market,” Dave Banyard, president and chief executive officer, said in a news release.

“We expanded our gross margin to 35% and increased adjusted operating income by 6% as volume declines were more than offset by cost discipline, selective price increases and execution of our Distribution Segment transformation,” Banyard said.

Myers Industries is on track to meet long-term financial goals with the Distribution Segment transformation, he said.

The company said it expects full 2019 sales to be down in the low to mid single digits because of weak consumer demand.

Net income is projected to range between 62 to 72 cents for the year, down from previous projections, after taking a $4 million charge for environmental liabilities, the company said.

Adjusted earnings are projected to range between 75 to 85 cents per share.

“The important spring selling season for outdoor power equipment was unusually weak due to the historic wet weather conditions experienced across much of the country,” Banyard said. “This sluggish start to the year took a toll on our consumer end market demand, which we anticipate will continue to be weak in the third quarter and will not recover by year-end. While we expect to offset some of the decline with our new product launch, this incremental revenue will not be enough to overcome the market decline, so we are adjusting our full-year sales outlook.”

The company said it remains cautious about the state of demand for the rest of the year.

Jim Mackinnon covers business. He can be reached at 330-996-3544 or jmackinnon@thebeaconjournal.com. Follow him @JimMackinnonABJ on Twitter or www.facebook.com/JimMackinnonABJ