BFNT finally turns a profit, while Bridgestone Americas Holding posts record sales
In 2005, Bridgestone Firestone North American Tire LLC turned its first profit since the company was established in late 2001. During the year, parent company Bridgestone Corp. also achieved consolidated net income of $1.53 billion on sales of $22.8 billion, while Bridgestone Americas Holding Inc. (BSAH) posted net sales of more than $10 billion, a first for the division.
The $10 billion-plus figure was an 11% increase over BSAH's 2004 results. BSAH's full-year net profit totaled $428 million versus $244 million during 2004.
"The 2005 growth in sales reflected strength in all of BSAH's major business units, due to increases in both volume and pricing," say Bridgestone officials.
Last year was BSAH's fourth consecutive profitable year.
"Results reflect the impressive performance at all of BSAH's subsidiaries, especially by its retail, diversified products and Latin American businesses.
"Additional factors that were cited as contributing to the 2005 full-year results include strong sales of truck and bus tires, impressive sales and profits in the building products segment of (BSAH's) diversified products business, and increasing sales of the company's flagship Bridgestone and Firestone brand passenger and light truck tires in the replacement market, resulting in an improved sales mix."