Bridgestone Corp. projects 2003 sales of $19 billion
Bridgestone Corp. estimates it will record consolidated net sales of $9.2 billion for the first half of this year and $19 billion for 2003, according to its revised forecasts.
Bridgestone also forecasts $243 million in net income for the first six months -- approximately 32% more than originally projected in February. For the year, net income will approach $645 million, an amount 10% higher than originally projected, and 70% greater than the previous year.
The stronger than expected outlook for earnings is based on a "substantial increase in exports from Japan to Bridgestone operations in the Americas and Europe, fueled by higher than anticipated sales demand," according to the company. The increased strength of the Euro also led to increased sales and earnings projections.
In 2002, Bridgestone Corp. recorded net earnings of $378 million on consolidated net sales of $18.7 billion.