Bridgestone announces first quarter results
Bridgestone Corp.'s tire sales totaled $4.2 billion, or 445.7 billion yen, for the first quarter, ended March 31, 2004.
Bridgestone's Q1 operating income from tires equaled $365 million, or 38.5 billion yen.
"Operating profitability suffered from the surging cost of raw materials," according to Bridgestone officials.
"Sales were strong, however, in reflection of rising demand outside Japan."
Overall, Bridgestone Corp. achieved sales of $5.2 billion, or 559.5 billion yen, during the first quarter.
Bridgestone's total Q1 operating income was $446 million, or 47.1 billion yen.
The Tokyo, Japan-based company reports that unit sales of truck and bus tires in North America "increased greatly over the same period the previous year. Unit sales of passenger car and light truck tires in North America were basically unchanged."
The company's net income for the first quarter was $265 million, or 28 billion yen.