"We made the right decision late in 2008 to launch a record 62 new products in 2009 despite poor industry conditions. Others may have made a different decision," said Robert Keegan, Goodyear Tire & Rubber Co. chairman and CEO during a news conference to discuss the company's fourth quarter and full-year 2009 financial results.
Tags: Financials, Goodyear
It was a rebound year for almost all of the tire manufacturers trading public stocks. Fifteen of the 18 stocks www.modertiredealer.com regularly follows were worth more (in United States dollars) at the end of 2009 than they were on Dec. 31, 2008.
Tags: Cooper financials, Financials, Stock prices
Yokohama Rubber Co. Ltd. has reduced its net-loss projection for the first six months of fiscal 2010 from 8 billion yen to 5 billion yen.
Tags: Financials, Yokohama financials
"The 1H09 financial results of almost all tire manufacturers were very ugly as low volume, inefficient use of facilities, plant closings and other restructuring costs led to large losses for Goodyear, Michelin, Continental, Bridgestone, Cooper, Sumitomo, Kumho and others," says Saul Ludwig in the September installment of the "Ludwig Report" in Modern Tire Dealer magazine. "Only Pirelli Tire showed a respectable profit.
Tags: Financials, Ludwig, Ludwig Report, Saul Ludwig
Sumitomo Rubber Industries Ltd. posted a net loss of 6.9 billion yen on net sales of 229.7 billion yen for the first half of its fiscal 2009 ended June 30. That compares to net income of 2.1 billion yen on sales of 284.5 billion yen for the same period last year.
Tags: Financials, Sumitomo financials
In a conference call to discuss the company’s second quarter financial results, Roy Armes, Cooper Tire & Rubber Co. chief executive officer, said the company has started shipping consumer tires to Sears, Roebuck and Co.
Tags: Cooper, Cooper financials, Financials
Cooper Tire & Rubber Co.'s North American Tire operations generated $427 million in sales for the second quarter ended June 30, 2009. That represents 67.6% of the company's total sales.
Tags: Cooper financials, Financials, RMA
Cooper Tire & Rubber Co. reported a net loss of $6.3 million on net sales of $631.7 million for the second quarter ended June 30, 2009. That compares to a net loss of $21.7million on sales of $772.9 million for the same period last year.
Tags: Cooper financials, Financials, Roy Armes
Cooper Tire & Rubber Co. announced a second-quarter dividend of 10.5 cents per share on common stock. The dividend is payable Sept. 30, 2009, to stockholders of record at the close of business Sept. 2, 2009.
Tags: Cooper financials, Financials, New York Stock Exchange
Groupe Michelin recorded a net loss of 122 million euros on net sales of 7.1 billion euros for the first half ended June 30, 2009. That compares to net income of 430 million euros on sales of 8.2 billion euros for the same period in 2008.
Tags: Financials, Michel Rollier, Michelin financials
Yokohama Rubber Co. Ltd. posted a net loss of 1.8 billion yen on sales of 95.2 billion yen for its fiscal first quarter ended June 30, 2009. That compares to net income of 2.9 billion yen on sales of 123.1 billion yen for the same period the previous fiscal year.
Tags: Financials, Fiscal year, Yokohama financials
Hankook Tire Co. posted sales of 1.25 trillion won for its second quarter ended June 30, 2009. Sales were up 13.1% compared to the same period in 2008.
Tags: Financials, Hankook financials, Hankook Tire Co., Seung Hwa Suh