Goodyear to report $4.5 billion in Q2 sales

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Goodyear Tire & Rubber Co. expects to report second quarter sales of nearly $4.5 billion vs. $3.8 billion during the same period last year.

"The increase in sales reflects higher volume, improved pricing and product mix," say Goodyear officials.

It also includes "the impact of the first quarter consolidation of two subsidiaries, as well as the favorable impact of currency translation."

All seven of Goodyear´s business units, including North American Tire, are expected to report positive segment operating income for the second quarter.

Two European busines units will be up more than 25% and the tiremaker´s Latin America, Engineered Products and Chemical divisions will be up at least 50% compared to Q2 2003 levels, Goodyear officials predict.

Goodyear also announced earlier today that it intends to refinance its $680 million senior secured United States revolving credit facility, which matures April 30, 2005.

The Akron, Ohio-based company will disclose full second quarter results on Thursday, Aug. 5, which will be followed with a conference call at 9 a.m. (EDT) that same day.

The call can be accessed by dialing (706) 634-5954.

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