Goodyear anticipates 'continued gains in operating performance'
Goodyear Tire & Rubber Co. is set to post record yearly sales for fiscal 2005, based on its financial results through the first three quarters.
Sales for the first nine months of 2005 were a record $14.8 billion, an increase of 9.4% from the $13.5 billion in sales posted in 2004. Net income for the first nine months of 2005 was $279 million, compared to a net loss of $10 million during the same period a year ago.
Segment operating income reached $938 million, a 32.7% increase compared to the first nine months of 2004. Tire unit volume was 170.7 million units, up 1.5% from a year ago.
The company says it anticipates continued year-over-year gains in operating performance in the fourth quarter; however, the rate of those gains is expected to be less than in the third quarter.