Titan's 3Q sales drop versus last year
Titan International Inc. achieved $102.7 million in net sales during the third quarter, a $13.5 million drop from the same period last year. "Third quarter is always the toughest quarter due to Titan's various shutdowns," says Titan Chairman and CEO Morry Taylor.
"And usually during the third quarter most OEMs adjust their inventory levels."
Taylor also reports that Titan's costs have risen more than anticipated.
Titan's adjusted income from operations was $3.6 million during the third quarter versus $9.9 million during 3Q 2004.
However, year-to-date, Titan's net sales totaled $373.6 million, a 5% increase over 2004 levels.