Titan announces Q4 2001 results
Titan Tire Corp.'s fourth quarter 2001 net sales totaled $100.6 million, a $12.8 million decrease from the same period during the previous year.
Titan recorded a Q4 net loss of $21.5 million vs. its $8 million net loss during the fourth quarter of 2000.
Total 2001 sales were $457.5 million; total year 2000 sales were slightly more than $543 million.
"As reflected in our financial results, 2001 was clearly a difficult year for Titan," says Titan President and CEO Morry Taylor.
Taylor expects "a financial recovery" for Titan in 2002 thanks to the settlement of two long-running production strikes last fall and the procurement of new contracts.