MEMO: SPARTECH ANNOUNCES RECORD SALES EARNINGS

Spartech Corp. announced record sales and earnings for the first quarter that ended Jan. 29.

Bradley B. Buechler, Spartech president and chief executive officer, reported first-quarter sales at $234.7 million, up 18 percent from the $198.5 million of the first quarter first quarter last year.

The company's net earnings of $8.6 million, or 32 cents for fully diluted shares, down from the $11.2 million or 39 cents per diluted share reported in 2000.

The decline in earnings was the first in over nine years, due to a significant increase in financing costs as compared to last year, said Buechler. Spartech's increase in sales was due to new volume from some fiscal 2000 acquisitions.

Spartech makes thermoplastic materials and polymeric compounds, including extruded sheet and rollstock, specialty plastic alloys, compounds and color concentrates and molded profile products.